Incentives

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The City of Rancho Cordova is committed to providing a business-friendly environment that fosters community growth and prosperity. The City is proud to offer the following development incentives for a variety of projects.

Local

Brownfields Program - Free Phase I & II Environmental Site Assessments

The City of Rancho Cordova invites you to take advantage of a free opportunity to secure your property investment. An expensive and stressful situation that many property owners face while rehabilitating or selling their land is the presence of unforeseen hazardous substances. These hazards may have been left-over from previous occupants and often times current property owners are unaware that their land is contaminated. To encourage economic growth, the City of Rancho Cordova has teamed up with the U.S. Environmental Protection Agency (EPA) to offer Phase I and Phase II environmental site assessments at zero cost to you.

The brownfield assessment program has been made possible by the U.S. Environmental Protection Agency (EPA) “Community-wide Brownfields Assessment Grant" to provide environmental site assessments on eligible properties along the Folsom Blvd Corridor. Brownfields are abandoned or under-used industrial and commercial properties where redevelopment is complicated by possible environmental contamination.

As a property owner, concerned community member, or prospective buyer in Rancho Cordova that is interested in a free brownfield assessment, please contact Amanda Norton in the City's Economic Development Department at (916) 851-8783 or anorton@cityofranchocordova.org.

Development Impact Fee Deferral Program

In order to help stimulate economic development and be responsive to the needs of our customers, the City of Rancho Cordova is offering a fee deferral program for residential, commercial, and industrial projects. Rather than requiring developers to pay all “development impact fees” at the time a building permit is issued, developers may request approval to defer the payment of select impact fees. Download a Temporary Development Impact Fee Deferral Program and Applications.

Development Services Team

The Development Services Team (DST) is a multi-disciplinary team that acts as an internal coordinator to assist the development community, local businesses, and residents with issues or questions related to the development permitting and plan check processes. Team members include representatives from City departments and partner agencies that are involved in development applications. 

Project Assistance

The City’s Economic Development Team is available to assist with development at any stage of the process. Services include business resources, single point-of-contact, site selection assistance and fast-tracking a project. Please call us at (916) 851-8700 or email econdev@cityofranchocordova.org. 

Revolving Fund Loan Program

In November 2014, the citizens of Rancho Cordova approved the Community Enhancement Fund. As part of the approval process, the community and city business partners expressed interest in assisting local businesses to grow and expand by creating a Revolving Loan Fund Program. The Program was awarded initial funding in the 2015/2016 budget cycle. For more information, contact our Economic Development Department.

Regional

Building Industry Association Workforce Program

The Hiring Assistance Program provides employers a stipend of up to $5,000 for hiring and providing initial orientation & training to a new full time employee. The program places unemployed people in a wide array of skilled and professional occupations within a variety of industries. 

Grow Sacramento Fund

The Grow Sacramento Fund is a partnership among SMUD, Sacramento Housing & Redevelopment Agency (SHRA), City of Sacramento, Sacramento County, and the National Development Council (NDC). Small businesses can obtain loan financing to grow their small business through the program. Visit SMUD's website for more details about the program. Contact Diana Sasser with the Grow America Fund at growsac@smud.org or (916) 732-5499 for more information. 

Historically Underutilized Business (HUB) Zone

The HUB Zone Program stimulates economic development and creates jobs in urban and rural communities by providing federal contracting preferences to small businesses. Mather Commerce Center and other areas of Rancho Cordova are part of the zone. Visit the HUB Zone Website for more information.

Recycling Market Development Zone (RDMZ)

The Sacramento Regional RMDZ encompasses Sacramento County, including all of Rancho Cordova. This program combines recycling with economic development to fuel new businesses, expand existing ones, create jobs, and divert waste from landfills. This program provides attractive loans, technical assistance, and free product marketing to businesses that use materials from a waste stream to manufacture their products and are located in a zone. In addition to loans, the CIWMB offers free product marketing through the RecycleStore. Visit the RMDZ Website for more information. 

Sacramento Employment and Training Agency (SETA)

SETA connects people to jobs and business owners to quality employees. Its workforce arm, Sacramento Works, provides the following services: job posting, customized recruitment events, applicant screening services, job fairs, skills assessment, tax credit, and labor market information. Visit the SETA Website for more information.

Sewer Credits

The City may be able to offer sewer hookup fee incentives for certain projects. See also Sacramento Regional County Sanitation District.

State

California Competes Program

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 will be 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, one appointee each by the Speaker of the Assembly and Senate Committee on Rules.

Employment Training Panel (ETP)

ETP is a business and labor supported state agency that assists employers in strengthening their competitive edge by providing funds to off-set the costs of job skills training necessary to maintain high-performance workplaces. Employers match training funds awarded by ETP for training existing workers, making these projects true public-private partnerships. ETP also funds training for unemployed workers and prioritizes small businesses and employers in high unemployment areas of the state. Visit the ETP Website for more information.

Infrastructure Development Bonds (IDBs)

IDBs provide manufacturing and processing companies low-cost, low-interest financing for capital expenditures. The borrower must be a "manufacturing company" requesting from $1 million to $10 million. Manufacturing businesses are essential to the local economy because they increase employment opportunities by creating new, good paying jobs and increase local tax revenue. Visit the IDB Program Website for more information.

Manufacturing and Research & Development Equipment Exemption, California Board of Equalization

Manufacturers and certain research and developers can now obtain a partial exemption of sales and use tax from the California Board of Equalization. To be eligible, businesses must be engaged in certain types of business, purchase qualified property, and use qualified property for certain uses. Learn about the exemption, and make sure to get your answers in writing. We suggest you discuss these opportunities with your tax accountant.

New Employment Credit, California Franchise Tax Board

The California Franchise Tax Board offers a new employment credit to taxpayers that hire a qualified full-time employee on or after January 1, 2014. The program applies to Rancho Cordova small businesses that meet certain business classifications and requirements and excludes temporary help services or retail trades. Click here for the list of qualifications and frequently asked questions. We suggest you discuss these opportunities with your tax accountant.

Statewide Community Infrastructure Program (SCIP)

The program allows property owners to obtain financial assistance for non-residential development impact fees associated with infrastructure. SCIP issues tax-exempt revenue bonds and uses the proceeds to finance development fees. Developers can make use of an impact fee reimbursement program or an impact fee prefunding program. Visit the following websites for more information: SCIP Overview and www.cacommunities.org.

National 

Google's Get Your Business Online

Getting online may seem like a huge challenge, but it doesn’t have to be difficult. In fact, Google’s Get Your Business Online program makes it quick, easy, and free. For one year, you will receive a free website, custom domain name, web hosting, and more.

Local Incentives Awarded

Incentives have been awarded to the following businesses  D&S Development, American River Brewing Company, and Donahue Schriber Corp

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