Financial software provider BlackLine Systems plans to hire 40 new employees as a result of new economic incentives it will receive through its relocation from Calabasas to Woodland Hills. Through the State Enterprise Zone’s hiring tax credit, BlackLine Systems plans to hire the new employees within the next year, which will be added to the 50 employees the company will already be bringing in the move. The enterprise zone was expanded last year within the San Fernando Valley and other parts of Los Angeles. BlackLine Systems will also be able to take advantage of the city of Los Angeles’ recently adopted Business Tax Holiday, which will allow it to become exempt from paying the gross receipts tax for three years. Once the city’s local preference policy is adopted, the company will also qualify to receive an 8-percent preference on all city contracts. “The City of Los Angeles has been very proactive in terms of educating us on our options, supplying us with the information and research we needed to move our decision along, and answering our questions,” said Mario Spanicciati, executive vice president of operations for BlackLine Systems. “In order to handle our continuing fast growth and maintain BlackLine’s reputation for providing world-class service to our clients, we are very excited to move to a bigger space in the popular Warner Center are of Woodland Hills.” BlackLine Systems’ revenues increased by more than 50 percent in both 2009 and 2010, and it has more than tripled its staff over the last two years. Jessica Vernabe
