Business Incentives

Font Size: + -

Feedback Print

Incentive Programs

The City of Rancho Cordova offers four incentive programs to attract and retain businesses, create additional job opportunities and enhance the overall quality of life in Rancho Cordova. These programs are supported by the city’s Community Enhancement & Investment Fund, and assistance through these programs is offered on a first-come, first-served basis.

To find out if you qualify for any of the programs described below, please contact the city’s Economic Development team at EconDev@cityofranchocordova.org.

1. Jobs and Talent Attraction Program

This program is designed to offer incentives to businesses who are either expanding or relocating in the City of Rancho Cordova.

Program Overview

To be eligible for a maximum of $10,000 incentive per net new job created, the minimum requirements must be met:

Must be locating to or expanding in the City of Rancho Cordova.
Must be listed in the eligible industries codes. The program focus is on attracting R&D, semiconductors, life sciences, engineering and manufacturing companies.
Create a minimum of twenty (20) net new jobs.
Each job at or above $100,000 in W2 wages, can qualify for the incentive.

Note regarding eligibility: Jobs that are relocated or consolidated from within the surrounding six (6) county regions (El Dorado, Placer, Sacramento, Sutter, Yuba, and Yolo) are not eligible for the program.

Contact econdev@cityofranchocordova.org to find out if you qualify to apply for this incentive.

2. Business Incentive Program

The Business Incentive Program is designed to promote development of new businesses, expansion of existing businesses that will fill vacant business space and support enterprises that will hire or retain employees in the city. The Program is also intended to enhance the city’s competitiveness in attracting businesses that will further enhance the existing quality of life within the City by providing high quality services and products to its residents.

3. Sign and Façade Program

Through this program, businesses can receive support to enhance the physical appearance and economic vitality of their commercial property. Ultimately, the long-term goal of this program is to help retain existing businesses and increase property values and tenant stability.

There are two different types of grants offered in this program:

Commercial Façade Improvement Mini Grant – This grant provides for reimbursement for up to $5,000 for commercial building façade improvements with no match requirement.
Commercial Façade Improvement Matching Grant – This grant provides a reimbursable matching grant of up to two-thirds of eligible project costs for projects where the total project cost is $25,000 or less, up to a maximum of $16,500. Approved applicants must contribute at least one-third of the total cost of improvements.

Government Code 53083 Reports

This webpage is provided pursuant to Government Code 53083 which requires local agencies to provide a report with specific information to the public before approving an economic subsidy within its jurisdiction. The reports below will be available to the public though the City Clerk’s office and through the City of Rancho Cordova website.

Reports must include: (1) The name and address of all corporations or any other business entities, except for sole proprietorships, that are the beneficiary of the economic development subsidy, if applicable; (2) The start and end dates and schedule, if applicable, for the economic development subsidy; (3) A description of the economic development subsidy, including the estimated total amount of the expenditure of public funds by, or of revenue lost to, the city as a result of the economic development subsidy; (4) A statement of the public purposes for the economic development subsidy; (5) The projected tax revenue to the city as a result of the economic development subsidy; and (6) The estimated number of jobs created by the economic development subsidy, broken down by full-time, part-time, and temporary positions.

Local Incentives Awarded

2015

2016

2024

Additional Resources

There are also additional local, state and federal resources available. See below for more information.

Financing

Small Business Financing through the U.S. Small Business Administration (SBA)

Loans, investment capital, disaster assistance, surety bonds and grants for small business owners.

SBA Website

Bond Opportunities for Land Development

Developers can finance public infrastructure needed for new development using municipal bonds issued by the California Municipal Finance Authority.

Bond Opportunities for Land Development Website

Statewide Community Infrastructure Program (SCIP)

Defer development fees of construction and pay back over 30 years for commercial, industrial and residential construction.

SCIP Website

Industrial Development Bonds (IDBs)

Businesses investing in the acquisition, construction, rehabilitation, and equipping of manufacturing and processing facilities can receive funds from tax-exempt IDBs issued by a government entity.

IDBs Website

California Alternative Energy and Advanced Transportation Financing Authority

Advanced manufacturers and manufacturers of advanced transportation products are eligible for a full sales and use tax exclusion on equipment purchased.

California Alternative Energy and Advanced Transportation Financing Authority Website

Pollution Control Financing

Businesses investing in the acquisition, installation or construction of qualified pollution control, waste disposal, or waste recovery facilities and equipment can receive funds through tax-exempt bond financing programs.

Pollution Control Financing Website

Tax Credits

California Competes Tax Credit

Competitive, performance-based, corporate income tax credit is awarded to companies providing economic benefits to the state through the creation of new jobs and new capital investments.

California Competes Tax Credit Website

Sales and Use Tax Exemption for Manufacturing

Businesses purchasing basic manufacturing equipment are eligible for a sales tax exemption of the state’s share of sales/use tax (4.1875%). Additionally, equipment for food processing, research and development, and biotechnology are eligible for the exemption.

Sales and Use Tax Exemption for Manufacturing Website

Research and Development Tax Credits

Businesses investing in in-house and outsourced research and experimental development in the state are eligible for credits against bank and corporate tax liabilities.

Research and Development Tax Credits Website

Development Zones

Foreign Trade Zones (FTZs)

Merchandise exported from or imported into an FTZ is excluded from customs duty and excise taxes until the time of transfer from the zone.

FTZ Website

Recycling Market Development Zones

Loans, technical assistance, free marketing, relaxed building codes, streamlined permits, reduced taxes and licensing fees are available in these zones.

RMDZ Website

Opportunity Zone

Defer or eliminate federal taxes on capital gains in designated areas.

Opportunity Zone Website

Technical Assistance and Workforce Development

Rancho Cordova Chamber of Commerce

Rancho Cordova Chamber of Commerce Website

Northern California Small Business Development Center

Whether it’s planning your first startup, access to capital, human resources, compliance, marketing, accounting, or any other business need — NorCal SBDC is the region’s one-stop-shop for accelerating small business success.

Northern California Small Business Development Center Website

California Capital Financial Development Corporation

A continuum of services through their Women’s Business Center, Procurement Technical Assistance Center, Business Information Center, Women Veterans One-Stop and Market Research, Data and Mapping Programs, State Loan Guarantee Program and Micro Lending Program, allows California Capital to offer a full complement of programs that effectively builds the capacity of an entrepreneur to start, grow and sustain their business.

California Capital Financial Development Corporation Website

Folsom Cordova Community Partnership (FCCP)

Connect with potential employees through the FCCP’s job center.

FCCP Website

California Employment Training Panel

State-backed funding to employers to assist in upgrading the skills of their workers through training that leads to good paying, long-term jobs.

California Employment Training Panel Website

Contact

If you have questions or need additional information, please contact the Economic Development Department at 916.851.8780 or EconDev@cityofranchocordova.org.

City of Rancho Cordova

FIND A SERVICE

How Do I...