Enterprise zones are specific areas in the community where a variety of incentives are offered to stimulate business revitalization. The objective of an Enterprise Zone is to reduce the cost of doing business by offering state tax credits to the businesses located within the Zone. Some of the incentives include lowering of operation costs and eligibility for tax credits and deductions. For more information about the Enterprise Zone located in the San Gabriel Valley, please visit Pasadena’s Enterprise Zone.

 

A Foreign Trade Zone (FTZ) is a secured area physically located within the United States, but considered to be legally outside of U.S. Customs territory. Foreign Trade Zones allow businesses to postpone customs payments on imported goods until the product is transferred out of the zone.

 

Within the San Gabriel Valley alone, there are three Foreign Trade Zones located in the Cities of El Monte, Industry and Pomona. The San Gabriel Valley Economic Partnership acts as the authority over the FTZs located in El Monte and Pomona. However, the Titan Group operates the El Monte FTZ and the Fairplex operates the Pomona FTZ. Another FTZ, which is independently owned, is located in the City of Industry.

 

More information about the Foreign Trade Zones are available on the web:

• Foreign Trade Zone in El Monte operated by Titan Group, call (626) 279-7979

• Foreign Trade Zone in Pomona operated by Fairplex, is a designated site with expansion capabilities. Contact the San Gabriel Valley Economic Partnership at (626) 856-3400.

• Foreign Trade Zone in City of Industry.

For more information:

Los Angeles County Economic Development Corporation Business Incentives Overview.

 

Designed to encourage companies to increase their basic research and development activities in California, the research and development tax credit allows companies to receive a 15% credit against their bank and corporation tax liability for qualified in-house research expenses, and a 24% credit for basic research payments to an outside organization. It must not include research for the purpose of improving a commercial product for style, taste, cosmetic or seasonal design factors.

 

For more information:

California Business Investment Services.

 

Southern California Edison offers a number of programs to help qualifying businesses reduce energy usage and lower electricity costs. They include Express Efficiency, Standard Performance Contract (SPC) and a variety of Demand Response Programs. For more information, visit www.sce.com.

Southern California Gas Company offers a variety of energy efficiency programs and services designed to help businesses and consumers like you, to save time, money, and energy. For more information, visit www.socalgas.com.