This just in from Councilman W. Wilson Goode:

Councilman Goode will introduce New Philadelphia Jobs Tax Credit Bill

(Philadelphia, January 8, 2009) – City Councilman At-Large W. Wilson Goode, Jr. will introduce the “New Philadelphia Jobs Tax Credit Bill” on Thursday, January 22 at council’s first session after winter break. The legislation establishes a two-year employment stimulus program under which a credit against the City's business privilege taxes will be given to businesses that create new jobs within the City of Philadelphia. The businesses will receive a $3000 credit for each new job created for tax years 2010 and 2011. The new credit is patterned after the New American Jobs Tax Credit proposed by the Obama campaign during the presidential election.

Councilman Goode said, “This legislation will help to attract and create jobs within Philadelphia. As we work toward economy recovery on all levels, business and job growth will require the right kind of financial stimulus. Objective analyses suggest that the federal New Jobs Tax Credit of 1977-78 was crucial to recovery from the economic recession in the mid-1970s. Our goal must be to maximize our competitiveness as the Obama Administration steers us toward economic recovery. This stimulus bill would expand upon the 3000-plus jobs already slated to be created under my existing program which was enacted in 2002.”