A
wage tax credit is available for a business that creates new employment in
its Zone facility. The credit is equal to $1,500 for each new job created
that pays 135 percent of minimum wage, the credit doubles if the employee is
a registered targeted employee through the Department of Labor. (ie. Unemployed,
honorably discharged veterans, social services, recipients, poverty income persons, or
families).
The credit is increased $500 for wages over $40,000. The
credit may be taken for 5 consecutive years. Additional jobs created in the
subsequent four year period are also eligible for credits for the balance of
the years remaining.
Any unused credits may be carried forward until expired.