SACRAMENTO, CA – January 7, 2010 – (RealEstateRama) — California homebuilders applauded Governor Schwarzenegger for his determination to reinvigorate the state’s economy by focusing on jobs, streamlining the construction permitting process and establishing a new homebuyer tax credit.
Liz Snow, CBIA’s President and CEO, said the inclusion of the programs designed to kick-start the economy by stimulating California’s moribund housing sector and streamlining the construction approval process are critically important steps to take towards creating jobs and generating more positive economic activity.
“The tax credit program enacted last year was tremendously popular and proved to be successful in helping to push prospective buyers off the fence and stimulate the homebuilding sector,” said Snow. “Enacting a new homebuyer tax credit and streamlining the building process would definitely help continue that positive momentum and help our economy recover more quickly.”
Snow noted that because building a new home generates some $16,000 in state tax revenues alone, a new tax credit would more than pay for itself.
“Additionally, we applaud Governor Schwarzenegger for recognizing the importance of streamlining the approval process and advancing critically important development projects that would result in thousands of well paying jobs throughout the state,” said Snow. “CBIA looks forward to working with the Governor and state lawmakers to flesh out the details and initiate these programs in the near future.”
The California Building Industry Association is a statewide trade association representing thousands of homebuilders, remodelers, subcontractors, architects, engineers, designers, and other industry professionals. More information is available on the Association’s Web site, www.cbia.org.
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