The Los Angeles City Council unanimously voted on Friday to give tax breaks to new businesses that open in Los Angeles.
If you like this story, consider signing up for our email newsletters.
SHOW ME HOW
You have successfully signed up for your selected newsletter(s) - please keep an eye on your mailbox, we're movin' in!
The businesses will qualify for the "Business Tax Holiday" exemption only if they gross less than $500,000 a year. The exemption will only last until the end of 2012.
"We sent the message loud and clear that Los Angeles is committed to leveraging every resource it has to attract businesses and put Angelenos back to work," said Mayor Antonio Villaraigosa.