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Home > By DEPARTMENTS > Finance and Financial Management for Green Business > Grants for green businesses in California

Location Provides Green Business Strategy

Location based incentives and tax programs to help balance business and community goals

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"Green business" can be defined many ways, but all definitions contain two elements, doing business...and community responsibility. Location can be used to fine tune both of those elements for sustainable success.

Incentivized Business Locations

Rarely will either legislated or discretionary incentives turn a poor location into an acceptable one. Therefore, they should be considered only after a number of locations have been identified that satisfies a company's key operation requirements. But among roughly equal alternatives, incentives can represent a decisive factor. Incentives should be combined with other factors as part of a "big picture" comparison of contending site locations.

Enterprise Zone Credits

Enterprise zones are specific areas in the community where the state & local government partner and offer a variety of incentives to attract private business investment.

There are 10 Enterprise Zone areas in Los Angeles County: Central LA, Mid-Alameda Corridor, NE San Fernando Valley, Eastside, Harbor, Pasadena, Long Beach, Lancaster-Palmdale, South Gate, Huntington Park

The Enterprise Zone Program spurs business development in designated communities through special zone incentives. Businesses located within the boundaries of an enterprise zone are eligible for tax credits against their California bank and corporation tax liability.

Some of the Tax Credits include Sales and Use Tax Credit, a Hiring Tax Credit; Research and Development Tax Credit; and Net Operation Loss Carryover.

Federal Empowerment Zone

Employer Wage Credits provide an incentive to hire individuals who both live in the Empowerment Zone and work for an Empowerment Zone business.

Foreign Trade Zones (FTZ)

Deferral, reduction or elimination of US Customs duties for importers and exporters. Foreign Trade Zones allow business to postpone customs payments on imported goods until the product is shipped out of the zone. Foreign trade zones are secured areas legally outside of U.S. customs territory usually located in or near customs points of entry.

Foreign trade zones allow entry of foreign or domestic merchandise without formal customs entry or government excise taxes. Merchandise entering a zone may be stored, tested, sampled, re-labeled, repackaged, displayed, repaired, manipulated, mixed, cleaned, assembled, manufactured, salvaged, destroyed or processed. Products exported from or imported into foreign trade zones are excluded from customs duty and excise taxes until the time of transfer from the foreign trade zone. From or imported into foreign trade zones are excluded from customs duty and excise taxes until the time of transfer from the foreign trade zone.

General Purpose Foreign Trade Zones in Los Angeles County:

  • Zone No. 50, Long Beach, California Grantee
  • Zone No. 191, Palmdale, California Grantee
  • Zone No. 202, Los Angeles, California Grantee
  • City of Industry's Foreign Trade Zone

New Market Tax Credits

The New Market Tax Credit (NMTC) Program permits taxpayers to receive a credit against Federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs). Substantially all of the qualified equity investment must in turn be used by the CDE to provide investments in low-income communities. The credit provided to the investor totals 39% of the cost of the investment and is claimed over a 7-year credit allowance period.

Industrial Development Bonds

California cities, counties and state government have the authority to offer low interest financing to businesses locating in their communities through the use of tax-exempt industrial revenue bonds. An eligible bond project can be the construction of a new plant, or replacement of all or part of an existing plant. Industrial activities eligible for financing include assembly, fabrication, manufacturing and processing.

The primary advantage of industrial development bonds is that the financing provided bears an interest rate significantly lower than conventional methods (the lower interest rate is the result of the tax exempt status of the securities), the bonds are long term 15-30 years maturity, and are assumable.

City of Los Angeles Renewal Community

The Renewal Community creates business and community revitalization through Federal tax credits and incentives. The Renewal Community covers 9.5 sq. miles inclusive of Pico Union, Chinatown, Downtown's garment and jewelry districts, and South Central Los Angeles.

LA County Recycling Market Development Zone (RMDZ)

The RMDZ is a low-interest loan program &technical assistance for manufacturers who use recycled material or process recycled material into a form usable to manufacture a new product. It also helps businesses that reuse post-consumer secondary materials and add value to recycled materials.

Zone areas are unincorporated LA County &cities of Burbank, Carson, Compton, Commerce, Covina, El Monte, Glendale, Huntington Park, Los Angeles, Lynwood, Montebello, Pasadena, South El Monte, South Gate, Long Beach, and Vernon and Santa Clarita.

City of Los Angeles Section 108 Loan Program

This loan program has been established to facilitate larger real estate based projects that will result in the economic and physical revitalization of the City of Los Angeles. Funds are intended to finance real estate acquisition, construction or other related project costs whose objective will benefit low and moderate income communities through job creation or retention.

And there are more...and programs change by the month or year...



Edited by Carolyn Allen, owner/editor of California Green Solutions
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