WHY Rio Vista, CA?
Gateway to the Delta, the city of Rio Vista, California, is located less than one hour from Sacramento and is a unique city with a variety of amenities and services available to both residential and business communities and continues to make strides to meet the challenges of a growing community. We have the unique advantage of being a small city with big opportunities for the right business.
AVAILABLE INCENTIVES
Numerous local, state, and federal incentives are available to both small and large businesses. In this guide we have laid out the federal, state and local business incentives, employee training, financial assistance, and additional “green “resources that can help you locate and grow your business here in family-oriented Rio Vista, CA. Rio Vista Staff and Consultants are enthusiastic and ready to work with you.
FEDERAL INCENTIVES
Work Opportunity Tax Credit (WOTC)
- Provided to businesses for hiring individuals from target groups who have faced significant barriers to employment.
- Employers can generally earn a tax credit equal to 25-40% of a new employee’s first year wages. The maximum tax credit varies from $1,200- $9,600.
- As of 2024, the WOTC program has been extended to December 31, 2025.
- Provides Federal Income Tax Credits to the investor, which equals 39% of the cost of the original investment over a seven-year period.
- Must be certified as a Community Development Entity serving or providing investment capital for low-income communities or persons.
STATE INCENTIVES
The California Competes Tax Credit
- Income Tax Credit available to businesses locating to, or stay and grow in California
- Based on the number of jobs created/retained, wages paid, and the amount of investment made in CA.
Sales and Use Tax Exclusion Program (STE) for Advanced Transportation and Alternative Sources Manufacturing Program
- Sales and use tax exclusion for property involved in the design, manufacture, production or assembly of “clean technology”
- Must have pre-approval through the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA)
- Allows businesses to carry over a loss to the next year. 100% of loss can be carried over for 20 years if the loss is in the first year of operation.
LOCAL INCENTIVES
The close-knit family-oriented small town of Rio Vista is revitalizing its downtown and aims to be the perfect home for businesses and families.
- Affordable Housing Prices (avg. $482,000)
- Low Property Taxes
- Low Development Impact Fees
- Low Rent Per Square Foot
- Accessible City Council and Staff to help develop creative approaches to development
- No Cost Pre-Application Meetings with City Staff
- Abundant Outdoor Recreational Opportunities
Yolo-Solano Air Quality Management District YSAQMD Clean Air Funds Program
- Offers grants for projects designed to reduce emissions from mobile sources.
Yolo-Solano Air Quality Management District YSAQMD Carl Moyer Program
- Provides grant funding for the switch out of agricultural tractors and stationary agricultural irrigation pump engines.
EMPLOYEE TRAINING
Works with businesses to hire, develop and train employees through matching training funds, in addition to providing customized services to meet the unique needs of your business.
On the Job Training (OJT)
- Funding up to 75% of employee wages while training on site.
Customized Training Programs
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Provides a 50% match of cash or in-kind investment in training candidates before onboarding them.
Solano Economic Development Corporation
- Provides assistance to established businesses and just starting out entrepreneurs.
Solano-Napa Small Business Development Center
- Provides expert no-cost advice, webinars and trainings to guide small business owners and entrepreneurs and foster economic growth in Solano County.
- Offers customized training programs and potential incentives. Since incentives and programs change, contact the individual college for the latest opportunities.
California Employment Training Panel
- Assists businesses in acquiring and retraining a highly skilled workforce with expertise in very specific fields
- ETP will enter into a performance-based training contract for new or existing employees, which are performed by either an approved training agency or the company itself.
FINANCIAL ASSISTANCE
Solano Economic Development Corporation
- Provides financial assistance through the Solano Biz-Grow Loan to support small businesses affected by COVID-19
Solano County Recycling Market Development Zone
- Provides low interest loans and free marketing assistance to businesses that make a product from recycled material, reuse, composting or anaerobic digestion
US Small Business Administration Loan Programs
- 7(a) Loan Program may be used to establish a new business or to assist in the acquisition, operation, or expansion of an existing business
- Microloan Program provides up to $50,000 to help small businesses over a short repayment term
- Real Estate and Equipment Loans: CDC/504 provides financing for major fixed assets such as equipment or real estate
California Small Business Loan Guarantee Program (SBLGP)
- Issues loan guarantees up to $20M and partners with eligible lenders to finance small businesses with less than 750 employees that experience capital access barriers
- Funds can be used for start-up costs, new construction, inventory, working capital, export financing, franchise fees, business expansion, lines of credit, gap financing
California Capital Access Program (CalCAP)
- Pledges cash to cover the collateral shortfall of loans made by participating lenders of $50,000 or more
California Pollution Control Financing Authority (CPCFA)
- Provides tax-exempt bond financing and low-interest loans to install new equipment and acquire or construct qualified pollution control, waste disposal, or waste recovery facilities
Federal Financing Programs for Clean Energy
- Provides financing options for energy efficiency and clean energy projects
Electric Vehicle Charging Station Program
- Provides up to 100% coverage to lenders on certain loan defaults
- May be eligible to receive a rebate of 10- 15% of the enrolled loan amount
Americans with Disabilities Act (ADA) Financing Program
- Loan guaranty that may provide up to 100% coverage on losses
- Can be used to finance physical alterations or retrofits to small business facilities less than 10,000 square feet for compliance with ADA
ENTREPRENEURIAL AND START-UP ASSISTANCE
- Invests directly into the startup along with offering mentorship and venture capital connections.
Centers for International Trade Development
- Assists thousand of companies annually in conducting international business
- Offers free or low-cost programs and services, including one-on-one technical assistance and consulting, market research, training and educational programs, trade leads, and special events.
GREEN RESOURCES
Property Assessed Clean Energy (PACE) Program
- Provides commercial property owners with an opportunity to fund energy efficiency, water conservation, and renewable energy projects on their property tax bill.
Fuel Cell Motor Vehicle Tax Credit
- Tax credit of up to $4,000 for consumers who purchase a qualified light-duty fuel cell vehicle.
Qualified Plug-In Electric Drive Motor Vehicle Tax Credit
- A federal tax credit between $2,500 and $7,500 is available for consumers who purchase a new qualified plug-in electric drive motor vehicle.
RIO VISTA COMMUNITY DEMOGRAPHIC DATA
Solano County Labor Market Report
For more information, please contact Kristina Miller, City of Rio Vista City Manager, at kmiller [at] ci.rio-vista.ca.us (kmiller[at]ci[dot]rio-) kmiller [at] ci.rio-vista.ca.us (vista.ca.us) or 707-374-6451.
Disclaimer: This guide is not all-inclusive, and the criteria included may change after its release. The information contained in the guide is not a substitute for legal counsel.