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Fresno County Business Incentives Guide

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A Guide to Business Incentives in Fresno County.

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Fresno County Business Incentives Guide

  1. 1. New Employment Opportunities (NEO) Program Unique to Fresno County, the NEO Program is a six-month, short-term wage reimbursement hiring incentive program available to qualified employers hiring qualifying Fresno County residents. • Month 1 - 3 of employment: 100% reimbursement • Month 4 - 6: 75% reimbursement* • Reimbursement available for background & drug screenings • Potential for no-cost specialized training *extensions available under certain conditions New Employment Credit (NEC) California income tax credit available to qualified employers hiring qualifying employees. • Business must be in a Designated Geographic Area (DGA) • Credit is based on 35% of wage paid between 150% and 350% of California minimum wage (i.e. Credit is 35¢ on the dollar for every dollar paid over 150% of minimum wage) • Must obtain online credit reservation within 30 days of completing California new hire reporting requirements on employee Work Opportunity Tax Credit (WOTC) Federal tax credit available for hiring qualifying individuals from certain target groups. • Maximum tax credit ranges from $1,200 to $9,600, depending on the employee hired • Must complete specified form(s) before and after time of hire and submit within 28 calendar days of the employee’s start date Employment Training Panel (ETP) State program that reimburses the cost of employer-driven vocational training for new or existing employees. • Upgrade employee skills by creating a customized training program through approved training agencies • Reimbursement is performance based. A business ears ETP funds only after a trainee completes training program and is retained for a minimum time period (normally 90 days) at a pre-identified wage, in a job using the skills learned in training. California Competes Credit California income tax credit negotiated between State & businesses that want to stay and grow in California or locate within California. • Business maybe be located anywhere in California • Credit amount depends on several factors, including*: job creation, economic impact, amount of investment made in California by business *list not inclusive Manufacturing Equipment Sales & Use Tax Exemption Partial sales/use tax exemption on purchase or lease of manufacturing and related equipment. • Eliminates 3.94% of states sales tax/use portion • Immediate benefit – exemption taken at the time of purchase • Exemption may also apply to the materials needed to construct manufacturing facility • Establishments that are primarily engaged in Research and Development activities in biotechnology, physical engineering, and life sciences may qualify Research and Development (R&D) Credit Federal and State income tax credit available to businesses that incur qualified research expenses while conducting qualified research. • Credit received based on a percentage of the excess of current year research expenditures over a computed base amount Industrial Development Bond (IDB) Financing Program IDBs provide manufacturing and processing companies low-cost, low-interest financing for capital expenditures. • Eligible expenditures: acquisition of land, building construction, building renovation, purchase of machinery and equipment • Must be a manufacturing company requesting from $1 million – $10 million Guide to Business Incentives Hiring Incentives State Incentives Fresno County Economic Development Corporation • 906 N Street, Suite 120, Fresno, CA 93721 • www.fresnoedc.com
  2. 2. PG&E Economic Development Rate (EDR) Qualifying businesses in Fresno County will receive a 30% Enhanced Rate reduction on their monthly electricity costs • 5 year program • Designed for businesses with high energy loads (200 kW or greater) that are: - Considering locating within California and have other out-of-state options - Relocating from California to other states - Closing their existing California operations Fresno County Fee Deferral Program Qualifying job producing projects may defer 75% the County’s Plan Review/Building fees, with a maximum of $50,000 deferment per project. • Fees repaid 25% annually for three years • Project must create at least 20 jobs, either directly or indirectly For more information, contact the Fresno County EDC staff Recycling Market Development Zone (RMDZ) Incentive available to businesses that use recycled or recovered materials as raw materi- als in their manufacturing processes or reduce the creation of solid waste. • Low interest micro-loan program (up to $2 million) • Development and permitting assistance • Waiver or reduction of development/permit fees • Available throughout Fresno County Foreign Trade Zone (FTZ) FTZs are secured areas legally outside of U.S. customs territory, usually located in or near customs points of entry. • Allows entry of foreign or domestic merchandise without formal customs entry or government excise taxes • Fresno County part of Foreign Trade Zone No. 226 HUBZone (Historically Underutilized Business Zone) Federal program that helps small businesses in designated cities gain preferential access to federal procurement opportunities. Fresno County HUBZone designated Cities: Huron • Mendota • Orange Cove • Parlier • San Joaquin Fresno (certain areas within city) • Sanger (certain areas within city) City of Clovis – Core Area Fee Reduction • Reduction of development impact fees for in-fill development in the core area south of Sierra Avenue and west of Locan Avenue in the City of Clovis • In certain cases, fees can be reduced by as much as 70% For more information, contact the City of Clovis: Andrew Haussler (559) 324-2095 City of Fresno – iDIFER • The City of Fresno may reduce or eliminate development impact fees for qualifying industrial job producing development projects. • Project Example: A new 155,000 sq/ft industrial building that fully qualifies under iDIFER would save $176,000 in development fees. For more information, contact the City of Fresno: Larry Westerlund (559) 621-8355 City of Kingsburg Development Incentive Program The City of Kingsburg will provide the following incentives to new industrial, commercial, and retail projects: • 25% reduction of all City Development Impact Fees • 50% rebate of the City’s share of sales taxes paid for 3 years • 50% rebate of the City’s share of real property taxes paid for 3 years • Projects may be eligible for a reduction or elimination of other City fees when located within a Business Improvement Zone For more information, contact City of Kingsburg- Jolene Polyack (559) 284-2421 Federal & Local Incentives Fresno County Economic Development Corporation • 906 N Street, Suite 120, Fresno, CA 93721 • www.fresnoedc.com

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