1. California Competes Tax Credits ($75 million available)
The State of California’s Office of Business and Economic Development (GO-Biz) was established in 2014 to serve as California’s single point of contact for economic development and job creation efforts. Through GO-Biz, there are a series of tax credit incentive programs made available to local business owners who are focusing activities toward business retention and expansion. One in particular is the California Competes Tax Credit (CCTC). The State has released $75 million of available funding for businesses who grow and expand locally. The City of Garden Grove Economic Development staff attended the CCTC workshop held in Orange County and is available to assist Garden Grove businesses through the application process. Contact Monica Covarrubias, Project Manager, of City of Garden Grove: 714-741-5788 or firstname.lastname@example.org.
2. Work Opportunity Tax Credits
The Work Opportunity Tax Credits (WOTC) is a Federal tax credit incentive that is available to employers who hire and retain veterans and individuals from other target groups with significant barriers to employment. There is no limit on the number of individuals an employer can hire to qualify to claim the tax credit and The State’s Employment Development Department administers this program. Information to the State website has been added to the City’s website.
3. Small Business Administration (SBA) and Small Business Development Center (SBDC)
The Small Business Development Center is funded through the Small Business Administration to provide small businesses and entrepreneurs with expert consulting, effective training and access to resources. Staff is currently working on a Multi-Chamber collaboration with SBDC to coordinate and host local training workshops to support local small businesses in Garden Grove.
Here are links to SBA and SBDC:
4. Recycling Market Development Zone (Orange County)
The Recycling Market Development Zone (RMDZ) provides economic incentives to businesses with the zone in the form of low-interest rate loans, permit assistance, and location assistance. The goal of the RMDZ is to promote recycling through the creation and development of markets for products made in part from postconsumer waste materials diverted from the waste stream. When these diverted materials are used to produce new products, the products are referred to as recycled-content products. Here is a link to the RMDZ website: