VICA
VALLEY BUSINESS EXCHANGE
A business-to-business platform to foster strategic partnerships among Valley-based businesses.
A membership-based benefits program for chamber of commerce members and their employees.
Benefits will include group discounts on purchases of goods and services from national and local participating retailers and service providers.
Launch date to be announced.
Contact Ed Crowe 818-883-3374
More than 70,000 businesses registered and operating in the San Fernando Valley.
Business tax: The Business Tax Advisory Committee voted unanimously this week to support a four-year, gradual elimination of the gross receipts tax for all existing businesses in the city. VICA has been a long-time proponent of eliminating the City of L.A.’s gross receipts tax.
Economy: President Barack Obama's new jobs package will allow 710,000 California businesses to apply for a payroll tax cut for employees, according to the White House. Administration officials also predict the state will receive at least $3.9 billion in highway and transit dollars under the president's plan.
Elections: President Barack Obama's job approval rating has plummeted among voters, according to a new Field Poll. For the first time since Obama took office in 2009, less than half of California voters (46 percent) approve of the job he is doing, just two percentage points more than disapprove.
Local government: The Los Angeles County Board of Supervisors voted to raise the local bid preference to 8 percent for businesses competing for county contracts. Small businesses based in Los Angeles County are currently eligible for a 5 percent bid price reduction when they bid on county contracts.
Online retail: The passage of AB 155 will put a new online tax collection law on hold until at least Sept. 15, 2012—the delay could be extended until 2013 if Congress enacts a federal online sales collection law by next summer. In exchange for the reprieve, Amazon has agreed to drop its referendum campaign to overturn the tax law, which was approved as part of this year's state budget package.
Redistricting: Fairness & Accountability In Redistricting (FAIR), a Republican Party-backed group, has filed a lawsuit arguing that California's newly drawn Senate districts are unconstitutional. The group is also collecting signatures in a referendum drive aimed at asking voters to reject the newly drawn Senate districts in a statewide election next June.
Taxation: Gov. Jerry Brown’s corporate tax package (SB 166) failed to pass the state Senate prior to the end of the legislative session. Brown’s plan, supported by VICA, proposed changing the corporate tax formula to a mandatory single sales factor apportionment.
Valley Industry & Commerce Association (VICA)
San Fernando Valley, California
5121 Van Nuys Blvd, Ste 203
Sherman Oaks, CA 91403
Tel (818) 817-0545
Fax (818) 907-7934
www.vica.com
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ABOUT VICA
Presenting the business perspective on behalf of employers in the San Fernando Valley cities of Los Angeles, Burbank, Glendale, Calabasas, Hidden Hills, San Fernando and Santa Clarita.
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State bills arrive on the Governor’s desk
VICA calls on Brown to sign/veto end of session legislation
VICA is urging Gov. Jerry Brown to sign 10 pieces of legislation and veto 11 bills that made it through the Legislature as the regular session closed last week. These pieces of legislation are vitally important to the business community. VICA encourages Gov. Brown to carefully consider the recommendations. VICA has actively worked with state elected officials throughout the year to debate the merits of these bills. We hope our advocacy efforts will pay off for business, and the overall economic recovery of our state. Brown has 30 days from the end of the session to act on the bills that reached his desk.
Film production credits vital to local economy
VICA provides commentary for the SCV Business Journal
While most of the world conjures up images of Hollywood when they think of film and television production, Los Angeles county residents know filming (and the businesses that support it) is a vital part of the region's economy. In fact, more production takes place in the Santa Clarita and San Fernando valleys than in Hollywood. As L.A. County residents, we are also aware of the phenomenon known as runaway production — filming being lured away from California to other states by generous tax incentives. This exodus of California's staple industry means lost jobs and subdued economic activity at a time when the state desperately needs both.
