Incentives
Local, state, and federal incentivesAdditional reasons to Discover Visalia! Land here, grow here
If you are looking for a place to start, relocate or expand a business, look no further than Visalia, in the heart of California’s San Joaquin Valley. Thanks to its prime location relative to Northern and Southern California, many major companies have chosen Visalia as their west coast distribution hub.
Incentives
City of Visalia Incentives
- 5-year impact fee financing, through the City of Visalia, secured by a lien against real property. An initial payment of 20% shall be due and payable at building occupancy. The remaining balance will be paid over 5 annual installments, collected on the property tax roll.
- No local utility user tax – unlike most cities in California, the City of Visalia does not charge any local utility user taxes potentially generating substantial savings. Here is an example that illustrates the savings possible for a large milk processing facility (annual estimate compared to a utility tax rate of 6%):
Electricity: $396,000
CATV/Internet: $2,000
Water: $42,079
- Fast Track- Expediting business: The Visalia way with weekly site plan review, bi-monthly planning commission, fast-track service, and permitting service.
- Hiring/training- Visalia offers several programs designed to help you recruit, hire, train, and develop your employees.
Questions about these or any mentioned, contact:
Visalia Economic Development
Devon Jones
devon.jones@visalia.city
559-713-4190
Workforce Development Incentives
- On-the-Job Training: On-the-Job Training is a program that provides wage reimbursements when qualified hires are made through a Workforce Innovation and Opportunity Act (WIOA) supported program. The reimbursement can be up to 50% of average wages for eligible employees during a training period typically ranging from 160 hours to 500 hours.
- Work-Opportunity Tax Credit (WOTC): A tax credit for $2,400 (and potentially $9,000) for hiring workers who fall under certain categories, such as food stamp recipients between 18 and 39 years old; disabled veterans, and more.
- California New Employment Credit: State of California hiring credit for eligible employers who hire qualified full-time employees to work in a designated geographic area (DGA) (most of the commercially zoned areas of Visalia are in DGA), file for and receive tentative credit reservations, and report credits on a timely filed original return.
- Employment Training Panel (ETP): ETP is a business and labor-supported program that funds the costs of vocational training. Program is performance-based, employers must provide proof that training hours have been completed and trainees have been retrained in well-paying jobs for a specific period before ETP reimburses payment. The College of the Sequoias Training Resource Center (TRC) is a Multiple Employer Contractor and as such can work with interested employers to provide customizable training of interest and administer the ETP paperwork and process.
California Incentives
- California Competes Tax Credit is a state business income tax credit available to new or existing CA businesses. Tax c redit agreements are negotiated with GO-Biz and provide the tax credits upon hitting expressed job creation and/or capital investment milestones. For more info: CA Governor’s Office of Business and Economic Development
- Employment Training Panel (ETP) is a business and labor-supported program that funds the costs of vocational training. The program targets firms threatened by out-of-state competition or who compete in the global economy. Employers must provide proof that training hours have been completed and trainees have been retrained in well-paying jobs for a specific period of time at a specified wage before ETP reimburses payment. Locally, we have an existing ETP contract that employers can participate in through the COS Training Resource Center.
- Recycling Market Development Zone (RMDZ) incentives include one-stop permitting assistance, waiver or reduction of development/permit fees, a database of land, buildings, markets and feedstock, micro revolving loan fund and installment payment of fees. For more info: https://www.calrecycle.ca.gov/RMDZ/
- Manufacturing and Research and Development Exemption. Manufacturers and certain research and development firms may obtain a partial exemption of sales and use tax on certain manufacturing and research equipment purchases and leases. For more info: CA Dept. of Tax and Fee Administration
Federal Incentives
- Opportunity Zone. OZs are a new tool for community development. Established in the Tax Cuts and Jobs Act of 2017, Opportunity Zones provide tax incentives for investment in designated census tracts through qualified Opportunity Funds. For more information contact Devon Jones at devon.jones@visalia.city The entire Industrial Park, Business Research Park, and Oval Park commercial corridor are included in the OZ as well as numerous residential, commercial, and office development opportunities across the City.
- Foreign Trade Zone. An FTZ is a designated area, which, for Customs purposes, is considered outside the U.S. A subzone can be created to allow for imported merchandise to be brought into the zone, duty-free. For more info: Regional Foreign-Trade Zone No. 226
