Economic Development Resources
Attend the Small Business Virtual Town Hall
*Provided by the California Department of Insurance Please join California Insurance Commissioner Ricardo Lara on Friday, April 17th at 10:00 a.m. for a Virtual Town Hall to discuss insurance issues for small businesses during the COVID-19 pandemic emergency. With many businesses experiencing tremendous economic loss, the California Department of Insurance would like to inform and hear from small business owners regarding insurance coverage issues. This will also be an opportunity to learn more details about the Commissioner’s myriad of Bulletins and Notices sent out to insurance companies designed to help protect California small businesses and consumers during this time of [...]
Get the Latest Coronavirus Information from California’s Department of Public Health
*CA Department of Public Health California is responding to the spread of a respiratory illness caused by a novel coronavirus (COVID-19) first identified in Wuhan, Hubei Province, China. Cases of COVID-19 are also being reported internationally and in the United States. See full page here.
Read from Camoin Associates Interesting Food Trends Developing & Tactics Communities Can Take to Support Food Innovation
*From Camoin Associates Where and what consumers eat is changing, and this is driving innovation in the retail food industry. Below we’ve compiled some of the interesting food trends we have seen in our work and experienced firsthand, followed by tactics that communities can take to support and encourage food innovation. Read full article here.
USDA Distance Learning Telemedicine (DLT) Grant Program was Announced
*Provided by the USDA Rural Development The Distance Learning and Telemedicine program helps rural communities use the unique capabilities of telecommunications to connect to each other and to the world, overcoming the effects of remoteness and low population density. For example, this program can link teachers and medical service providers in one area to students and patients in another. Who may apply? For both programs, eligible applicants include most entities that provide education or health care through telecommunications, including: Most State and local governmental entities Federally-recognized Tribes Non-profits For-profit businesses Consortia of eligible entities Deadline: April 10, 2020 For more [...]
Check out Smart Incentives Roadmap for Successful Incentives Programs
*Provided by Smart Incentives Click here for the Smart Incentives Roadmap
USDA Accepting Rural Business Development Grant Applications – Due Mar. 13
What does this program do? This program is designed to provide technical assistance and training for small rural businesses. Small means that the business has fewer than 50 new workers and less than $1 million in gross revenue. What is an eligible area? Rural Business Development Grant money must be used for projects that benefit rural areas or towns outside the urbanized periphery of any city with a population of 50,000 or more. Click here for more information and to apply
The Federal Reserve Bank of Atlanta has released the 2019 Report on Minority-Owned Firms
Small businesses are crucial to the nation's economy. They employ almost half of U.S. workers, and are important sources of employment and wealth building, particularly for minority communities. The number of minority-owned businesses has grown rapidly in recent years, which means that their well-being and ability to access financing is increasingly important to fostering economic opportunity and broader economic growth. The Federal Reserve Bank of Atlanta has released the Small Business Credit Survey: 2019 Report on Minority-Owned Firms. The report examines the state of minority-owned businesses, offering insights on their performance, access to financing, and experiences in the credit market. [...]
Final Opportunity Zone Treasury Regulations Released
*Provided by jdsupra "Treasury has issued two prior sets of proposed regulations. The Final Regulations consolidate these proposed regulations as well as change various parts to reflect comments received on the rules over the last two years. Among the changes that were made, the Final Regulations clarify aspects of the 180-day investment period, clarify how the substantial improvement test is met, changed the rules relating to the purchase and development of vacant property, expanded the working capital safe harbor for start-up businesses, and provided a de minimis exception for “sin” businesses." Full article here
Top Five Metros for Tech Job Growth – Three are from California
*from Clearancejobs.com "According to new research from the Brookings Institution, about 90% of growth in high-tech jobs was concentrated on five cities: Boston, San Francisco, San Jose, Seattle and San Diego. The Washington, D.C.-based think tank found that these metropolitan areas accounted for nearly all of the nation’s innovation-sector growth from 2005 to 2017. Brookings noted these cities have increased their respective shares of the nation’s total innovation employment from 17.6% to 22.8%. One-third of the nation’s innovation jobs now reside in just 16 counties in the United States." For full article, click here.
Cruise Industry Drives $2.5 Billion into California Economy
*Provide by the Orange County Register "California is the home of headquarters and support facilities for several cruise lines including Princess and Crystal Cruises; it has four major cruise ports in Los Angeles, Long Beach, San Diego and San Francisco. Last year the ports generated nearly 2.2 million passenger visits and crew arrivals, or 8% of the nation’s total. Those visits fueled an estimated $151 million in passenger and crew onshore spending, or about $70 per passenger visit and crew arrival, CLIA reported. That was up 4.9% from 2016. When total direct spending by passengers, crews and vendors who support [...]
Quarterly Economic Snapshot: Strategic Consideration of Development Fees in Economic Development
In partnership with Economics & Planning Systems, the California Academy for Economic Development has released the latest quarterly economic report. You can read the economic snapshot to learn about the effect of Development Impact Fees (DIFs) and some possible solutions for reducing DIFs or augmenting funding for infrastructure and facilities. Read Snapshot here
DOT Launches Rural Opportunities to Use Transportation for Economic Success (ROUTES) Initiative
*Provided by U.S. Department of Transportation "Rural Opportunities to Use Transportation for Economic Success (ROUTES) is an initiative to address disparities in rural transportation infrastructure. Specifically, rural transportation infrastructure’s unique challenges need to be considered in order to meet our Nation’s priority transportation goals of safety and economic competitiveness." For more information, click here
Check out the Latest ARP Network Notes from USDA
*Provided by the USDA The ARP Network enlists the help of partners to spark economic development, entrepreneurship and community development. USDA ARS founded the ARP Network to expand the impact of ARS research and provide resources to help companies grow. By combining ARS research expertise with complementary capabilities and talents of partnering organizations, the ARP Network helps stimulate economic growth through technological advancements. The ARP Network matches business needs with ARS innovations and research capabilities and provides business assistant services to help companies and startups solve agricultural problems, develop products and create new jobs. Click here for full notes and [...]
Opportunity Zones Aren’t a Gimmick—They’re a Legitimate Investment Option
*Provided by Fortune.com "Among the many benefits, the initiative allows investors to defer tax on capital gains by investing in Qualified Opportunity Funds (QOF), vehicles organized specifically for injecting money into designated Opportunity Zones. Additionally, the longer an investment is held in a QOF, the lower the capital gains tax liability. Through step-up of basis (the readjustment of the value of an appreciated asset), investors receive a 10% exclusion of the deferred gain after five years, which grows to 15% after seven years. Furthermore, if the investment is held for at least 10 years, any appreciation of the QOF investment [...]
Learn More About USDA Rural Development’s Value-Added Producer Grant Program
Provided by USDA Rural Development "Helping our nation’s agricultural producers remain strong, vibrant businesses is an important goal of USDA Rural Development’s Value-Added Producer Grant program. The VAPG program is open to agricultural producers, producer groups and co-ops looking to generate new products, and create and expand marketing opportunities while increasing producer income and customer base. VAPG funds can be used for either planning and working capital projects. Planning grants can pay a qualified (third-party) consultant for development of a feasibility study, or a marketing and business plan related to the processing and/or marketing of a value-added product. Working capital grants can pay eligible project expenses [...]
DGS & HCD Announce Interactive Map Identifying State-Owned Sites for Potential Affordable Housing Development
Click here for Interactive Map
EDA Announces Availability of $587 Million to Aid Communities Impacted by Natural Disasters
*Provided by the EDA "EDA has a long history of successfully supporting disaster recovery and resiliency efforts. EDA's role in disaster recovery is to facilitate the timely and effective delivery of Federal economic development assistance to support long-term community economic recovery planning and project implementation, redevelopment and resiliency. EDA is uniquely positioned to coordinate regional disaster recovery efforts in partnership with its extensive network of Economic Development Districts (EDDs), University Centers, institutions of higher education and other partners in designated impact areas. EDA has published the FY19 Disaster Supplemental Notice of Funding Opportunity making $587 available to eligible grantees serving [...]
Check Out the California Investment Guide Online
*Provided by Site Selection Click here for the 2019 California Investment Guide
Soil Wealth: Investing in Regenerative Agriculture Across Asset Classes
*Provided by Croatan Institute “This study quantifies the U.S. landscape of investment funds that explicitly make sustainable food and agriculture or regenerative agriculture part of their investment strategy or criteria across investment asset classes – not only in farmland but also in cash and cash equivalents, fixed income, public equities, and private equity and venture capital. We have also identified a wide range of financial mechanisms, instruments, and approaches commonly used in more traditional conservation or agricultural finance transactions that could potentially be mobilized more explicitly to support regenerative agriculture outcomes in the future. This report therefore provides a roadmap to [...]
Join CDBG for Interactive Training on the Redesigned Community Development Block Grant Program
*Provided by HCD Join the California Department of Housing and Community Development (HCD) to learn, provide feedback, and get answers to your questions about the Community Development Grant (CDBG) program. Training will be provided in a classroom setting and will include the following topics: CDBG 101: Introduction to CDBG and HUD terminology from planning to reporting. CDBG Redesign: The proposed new method of distribution for funds and other changes in the CDBG program. CDBG Program Income: Managing program income and new policies and procedures. CDBG Cross-Cutting: Meeting federal cross-cutting requirements, including procurement, environmental review, and labor compliance. CDBG Monitoring: What [...]
Check Out USDA’s ARP Network Notes to Learn More About Resources in Agriculture
*Provided by the USDA USDA ARP Network enlists the help of partners to spark #econdev, entrepreneurship & community development. Check Out the latest Notes from the ARP Network to learn more about resources in agriculture here.