Econ Dev News2018-12-11T13:16:03+00:00

Economic Development News

Vote No On Proposition 6 and Save Transportation Projects in CA

Proposition 6 would eliminate funding for more than $5 billion annually in existing transportation funds that fund more than 6,500 bridge and road safety  and road safety, transportation and public transit improvement projects currently underway throughout California. Fact sheet here To learn more, go to the No on Prop 6 Website: https://noprop6.com/

October 9th, 2018|

Check Out the ARP Network Notes & Know the Agriculture Research that has been Conducted

*Provided by the Agricultural Research Partnership Network 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. Read more here [...]

October 9th, 2018|

5 Valley industries to add 137K jobs by 2024

*Posted by Reggie Ellis from the SunGazette on September 12, 2018 "California is now in the midst of the second-longest employment expansion on record – gaining more than twice as many jobs over the past eight years than it lost during the Great Recession. According to the Employment Development Department’s (EDD), job gains are spread across industry sectors with the largest number of new jobs expected in the educational services (private), health care, social assistance sector, and the construction sector. The EDD also projected California’s economy will generate a total of 4.7 million job openings between the second quarters of [...]

October 9th, 2018|

JP Morgan Chase Launches AdvancingCities Challenge to Invest More in Cities

*Provided by JP Morgan Chase & Co. The AdvancingCities Challenge will make investments of up to $3 million in cities to support creative, collaborative and sustainable solutions that address cross-cutting challenges to help more people benefit from a growing economy. Informational Calls are on 9/17 and 9/25. Sign up for one of them here Competition closes November 30, 2018 More information here

September 25th, 2018|

EIFD’s Expanded to Cover Maintenance

On Wednesday, September 19, 2018, Governor Brown signed Senate Bill 1145, a sponsored bill with CALED. This bill aimed to protect local economic development investments by allowing Enhanced Infrastructure Financing Districts (EIFDs) finance ongoing maintenance costs for public projects in their districts. In 2014, Senate Bill 628 (Beall) was enacted to have local agencies create EIFDs to finance key infrastructure projects and facilities. EIFDs become an important economic development tool that allow jurisdictions to move projects forward that might otherwise be shelved, given the absence of redevelopment. However, eligible costs for EIFDs were limited. Financing only included construction, acquisition and rehabilitation, as [...]

September 24th, 2018|

A Win for Small Manufacturers

On Friday, September 21, 2018, Governor Brown signed Assembly Bill 1547. Authored by Assemblymember Sharon Quirk-Silva, AB 1547 eliminates the California Industrial Development Financing Advisory Commission (CIDFAC) and, as a result, removes a barrier for small-to-medium sized manufacturers trying to access low-cost financing. Throughout CIDFAC’s existence, manufacturers and economic developers have expressed that CIDFAC subjected manufacturers to an expensive duplicative review process to access Industrial Development Bonds (IDB). Originally, CIDFAC was created at a time when there was a high volume of IDB projects and oversight over local industrial development authorities was deemed to be necessary to effectuate the state’s goals. [...]

September 24th, 2018|

Don’t Forget to Check out California’s Opportunity Zone Resources

The State of California created an Opportunity Zone (OZ) resource page for communities seeking guidance and support for this new community development program. Since the U.S. Treasury confirmed 879 designated Opportunity Zones in California, many of these communities have been actively seeking OZ resources and investors, step-by-step ways on how to implement the Zones, and direction on how to fully utilize this opportunity. For more information and to answer some of these questions, check out these resources below: California's Opportunity Zone Portal CALED's Investment Checklist for Communities CALED's Economic Development Checklist

September 19th, 2018|

Learn More about what Resources SBA Offers Businesses Looking to Export

*From the U.S. Small Business Administration Fee relief to end for small loans but will be instituted for rural areas and HUBZones On August 14, 2018, SBA issued Information Notice 5000-180010, announcing the SBA 7a fee structure that will be used in FY2019, i.e. beginning October 1, 2018.  SBA lenders will want to take note of the impending fee structure changes and plan accordingly.  Highlights of the new fee structure are: SBA’s longstanding waiver of the SBA Guaranty Fee on smaller 7(a) loans – loans of $125,000 or less in FY2018 – will end.  The standard 2% fee will resume beginning [...]

August 29th, 2018|

Need help Attracting Grocery Stores? Check out Buxton’s Article on How to do so

*From Buxton  Attracting grocery stores to historically underserved areas is a challenge; however, grocery store operators are integrating new location strategies that literally bring the store closer to the consumer. These changing strategies mean that there are opportunities for communities to engage with grocers who may have passed on their markets in the past. Successfully recruiting a grocery store requires an aggressive marketing strategy that first proves the economic viability of a new store by: Illustrating that the community’s trade area captures the grocer’s core customers Expressing the category dollar demand for grocery generated by the consumers within the trade [...]

August 28th, 2018|

Read Camoin Associates Opportunity Zone Update

*From Camoin Associates One of the most exciting early aspects of the Opportunity Zone program is that it can be layered with local incentives, such as tax increment financing, to enhance the appeal of districts already targeted for redevelopment. Camoin Associates is working with development organizations, attorneys, and local economic development professionals to identify how the Opportunity Zone tax incentives can be used at the local level to accelerate private investment. At the same time, Camoin Associates is gathering educational and informational resources to share. In this update, Camoin Associates has posted links to two maps identifying communities and census tracts [...]

August 28th, 2018|

How can Your Community Benefit from the Opportunity Zones?

*Provided by E21 “An important milestone in America’s economic recovery was reached last month when the Treasury Department approved the last round of Opportunity Zone designations. The Tax Cuts and Jobs Act of 2017 created a new financial product called “Opportunity Funds,” which allow investors to defer and reduce their capital gains tax bills in exchange for investing in projects located in economically distressed areas referred to as Opportunity Zones. An initial review of the 8,700 designated Opportunity Zones reveals just how far removed these communities are from the national economic recovery. The average unemployment rate is a stubbornly high [...]

August 21st, 2018|

Read Article from LA Times about the Split Roll Tax Initiative and how it will impact California

*Provided by the Los Angeles Times “A big battle over property taxes in California is shaping up for the 2020 ballot. Supporters of a bid to increase taxes on commercial land announced Tuesday they’ve collected more than 860,000 signatures to force a vote on the issue in two years. ‘This is a defining moment for California,' Fred Blackwell, CEO of the San Francisco Foundation, said in a statement. 'Closing the commercial property tax loopholes is important to our state.’ Backers, including the California Federation of Teachers, the League of Women Voters and community organization California Calls held news conferences Tuesday [...]

August 14th, 2018|

Provide Written Comments to Go-Biz about the CA Competes Changes by 5:00pm on Sept. 24

*Provided by the Governor’s Office of Business and Economic Development The Governor’s Office of Business and Economic Development (GO-Biz) proposes to adopt amendments to Title 10, Chapter 13, Article 1, Sections 8000, 8020, and 8030 after considering all comments, objections, and recommendations regarding the Proposed Action.  These proposed regulatory amendments are hereafter referred to as the “Proposed Action.” PUBLIC PROCEEDINGS, AUTHORITY, AND REFERENCE Any interested person, or his or her authorized representative, may submit written comments relevant to the Proposed Action to GO-Biz at the address below.  Comments may also be submitted by email to calcompetes@gobiz.ca.gov.  The written comment period closes [...]

August 14th, 2018|

AB 2853 adds More Requirements to Local Agencies Investing in Warehouse or Distribution Centers

*Provided by the California Legislative Information Read full bill here Description: "AB 2853, Medina. Local government: economic development subsidies.Existing law requires each local agency, as defined, to provide specified information to the public before approving an economic development subsidy within its jurisdiction, and to, among other things, hold hearings and report on those subsidies, as provided. Existing law defines “economic development subsidy” for these purposes to mean any expenditure of public funds or loss of revenue to a local agency in the amount of $100,000 or more, for the purpose of stimulating economic development within the jurisdiction of a local [...]

August 14th, 2018|

Cal OES 2018 Notice of Funding Opportunity for Pre-Disaster Mitigation & Mitigation Assistance Program

*Provided by California Governor's Office of Emergency Services   The California Governor's Office of Emergency Services (Cal OES) has received the Notice of Funding Opportunity (NOFO) announcement for the 2018 Pre-Disaster Mitigation (PDM) and the Flood Mitigation Assistance (FMA) Grant Programs. This includes $235.2 million nationwide for the PDM Program and $160 million nationwide for the FMA Program. These programs provide funding for the development of local hazard mitigation plans (LHMPs) and implementation of hazard mitigation projects. The NOFO and specific Cal OES information concerning the funding opportunities, NOI, application process/instructions, and webinar schedule may be accessed on the Cal OES Pre-Disaster and Flood Mitigation [...]

August 13th, 2018|

SCORE/SBA & Home Shopping Network (HSN) have Partnered to Give Small Business An Opportunity to Promote their idea on TV

SCORE/SBA and Home Shopping Network (HSN) have partnered up to search for new consumer products to be introduced to HSN's audience of 96 million households! Start-up/small business clients who focus on consumer products, and encouraging them to submit their product offering evaluation. This is a unique opportunity for the nascent entrepreneurs o pitch their new consumer products directly to hSN senior executives. If selected, they get a chance to present their products on "American Dreams" a new HSN TV show. Additionally, HSN will commit to purchasing a renegotiated number of units and placing their products on the HSN eCommerce site [...]

August 9th, 2018|

League Shares New Cannabis Regulations that Undermine Local Authority to Ban Deliveries

*Provided by the League of California Cities League Shares New Cannabis Regulations that Undermine Local Authority to Ban Deliveries Proposed Bureau of Cannabis Control (BCC) regulations released in July would preempt cities’ local control and regulatory authority in several ways. The regulations would authorize cannabis businesses to deliver in any jurisdiction and reduce the amount of time cities have to determine the validity of a cannabis business license. If approved, the regulations formally adopt the emergency regulations BCC implemented in December 2017. Cities have until Aug. 27 to voice opposition to this problematic proposal. Proposed Regulation Details Under the proposed [...]

August 8th, 2018|

Nominate a Rising Star in Economic Development for the 40 Under 40 Awards

*Provided by Jorgenson Consulting and Development Counsellors International   Nominate a Rising Star in Economic Development for the 40 Under 40 Awards 40 Under 40 is a biennial awards program recognizing the top “rising stars” under 40 years old in the economic development industry. This year, DCI is proud to partner with Jorgenson Consulting, a leading national executive search firm, to find the most innovative, impactful young economic developers around the globe. Do you know someone in the industry who has made a big splash in their community? Maybe they implemented a new program supporting local start-ups or spearheaded an RFP that [...]

August 8th, 2018|

Applications for $500 Million in Grants to Address Homelessness Open on Sept. 5

*Provided by the League of California Cities Apply for $500 Million in Grants to Address Homelessness Crisis at Local Level Applications Accepted Starting Sept. 5 Cities are eligible to apply for a Homeless Emergency Aid Program (HEAP) grant through the California Homeless Coordinating and Financing Council (HCFC). HEAP is the $500 million block grant program designed to provide direct assistance to cities and counties to address the homelessness crisis throughout California authorized by this year’s budget. Important Dates The first Notice of Funding Availability (NOFA) will be released on Sept. 5 and applications will be accepted at that date through Dec. 31. The [...]

August 8th, 2018|

USDA Awards $125,000 to the California Association for Local Economic Development for Rural Financial Assistance

  The U.S. Department of Agriculture: Rural Development has awarded the California Association for Local Economic Development (CALED) $125,000 to help rural communities finance rural infrastructure. July 30, 2018  – On Thursday, July 26 2018 the Central Sierra Economic Development District (CSEDD) hosted a Summit & Workshop with neighboring counties of Tuolumne, Mariposa, Calaveras, Alpine, and Amador. At the event, Kim Dolbow Vann, the California State Director for USDA Rural Development, announced that CALED has been awarded $125,0000 for rural financial assistance. The grant will allow CALED to work with three rural counties: Colusa, Del Norte, and Mono, to identify [...]

July 30th, 2018|

Go-Biz has Opened Applications for California Competes Tax Credit

*Provided by the Governor's Office of Business and Economic Development Overview The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California. Tax credit agreements a re negotiated by GO-Biz and approved by a statutorily created “California Competes Tax Credit Committee,” consisting of the State Treasurer, the Director of the Department of Finance, the Director of GO-Biz, and one appointee each by the Speaker of the Assembly and Senate Committee on Rules.   California Competes Tax Credit Webinar Information Prior to each application period, GO-Biz hosts online [...]

July 30th, 2018|

Participate in the CDFA California Financing Roundtable Conference

The CDFA California Financing Roundtable is a special one-day conference. This event will feature a number of economic development finance experts from around the state discussing development finance tools, authorities, resources and approaches, and how these can affect the California economy going forward. Meet your colleagues in the development finance industry and share best practices and approaches for financing economic development in the state The agenda for the CDFA California Financing Roundtable is now online. Check out the excellent topics that will be covered, including: Legislative Update: Sacramento to D.C. Public-Private Partnerships + Innovative Infrastructure Next Wave Infrastructure: Working with [...]

July 25th, 2018|

CDFI Fund will Award About $142 million to CDFI’s & Qualified Nonprofit Housing Organizations

The Community Development Financial Institutions (CDFI) Fund today opened fiscal year 2018 funding round for the Capital Magnet Fund. The CDFI Fund will award approximately $142.9 million to CDFIs and qualified nonprofit housing organizations this year to finance affordable housing activities, related economic development activities and community service facilities, with the goal of attracting private capital to economically distressed communities. The two-part application and guidelines can be found on  the CDFI website. The deadline to file the SF-424 form is Aug. 20 at 11:59 p.m. ET and the Capital Magnet Fund application is due by Sept. 17 at 5 p.m. [...]

July 24th, 2018|

Check Out this Grant & Loan Opportunity from the State Water Resources Control Board

*Information Provided by the California Consulting  State Water Resources Control Board: Proposition 1 Small Community Wastewater Program Deadline: Continuous Amount/Financing: $260 Million allocated to program.  Like CWSRF (see above) there is no maximum funding or disbursement limits. Financing Term up to 30 years or the useful life of the project.  Interest Rate is ½ the most recent General Obligation (GO) Bond Rate at time of funding approval. Eligibility: Most cities, towns, districts, or other public bodies created under state law, including state agencies Section 79723 of Prop 1 allocates $260 million to the Clean Water State Revolving Fund (CWSRF) Small Community Grant (SCG) Fund. The [...]

July 24th, 2018|

Registration for the California Land Recycling Conference is Now Open!

2018 California Land Recycling Conference October 24 & 25, 2018 | Carson, CA This two-day statewide event will bring together public, private and non-profit leaders from throughout California. This first-of-its-kind gathering will engage regulators and highlight tools and funding sources to advance land reuse. Participate in the event as California continues to address brownfield redevelopment in a brave new world post-Redevelopment Agencies. For more information and to register visit: www.cclr.org/california-land-recycling-conference-2018

July 18th, 2018|