May 13, 2014 > Think Fremont Ð Think Business Friendly
Think Fremont Ð Think Business Friendly
By Jennifer Chen, Economic Development Coordinator
We understand that operating a business in California is more than an economical proposition. ItÕs about proximity to customers, talent, and innovation. But to help you maximize your investment, we gathered a list of easily accessible local and state incentives that can help reduce your operating costs and increase profitability. If you would like assistance with these programs, we would be happy to connect you.
No Utility User Tax (UUT)
Companies located in Fremont have a cost advantage as the City does not levy any Utility User Taxes on services such as electricity, gas, and water. In some Silicon Valley cities, utilities fees can add as much as 20 percent for these combined services.
Clean Technology and Biotechnology Business Tax Exemption
Clean technology and biotechnology companies located in Fremont may be exempt from the CityÕs business license fees for up to five years.
California Alternative Energy & Advanced Transportation Financing Authority (CAEATFA) Sales & Use Tax Exemptions (STE) for Green and Advanced Manufacturing
Manufacturers can apply to receive sales tax exclusions on qualified equipment and machinery purchases used in an advanced manufacturing process or for the design, manufacture, production, or assembly of advanced transportation technologies.
Industrial Development Bonds (IDB)
Industrial Development Bonds (IDBs) offer tax-exempt financing issued up to $10 million by a governmental entity to provide money to acquire, construct, rehabilitate, and equip manufacturing and processing facilities for private companies.
Employment Training Panel (ETP) Funds
ETP is a state-funded employee training assistance program that provides funds to offset the cost of training employees up to $26 per training hour/per trainee for up to 200 hours.
Go-Biz provides a single point of contact for businesses looking to grow or locate in California. The office provides a range of services to business owners and is the key point of contact for State programs, as well as coordination with local and regional agencies. The office has an extensive guide on investing in California.
Less tangible, but just as important, is the CityÕs relationship with local companies to help them grow and thrive. LetÕs connect to find out how else we can help Ð whether itÕs entitlement facilitation, local supply chain mapping, or B2B connection.