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.
FEATURED: Jobs and Talent Attraction Program
The Jobs and Talent Attraction Program's goals focus on levels of economic impact to the community, job creation and new capital investment. For the next 24 months (beginning September 1, 2019), the City of Rancho Cordova is looking to invest up to $2.5 million in firms that create at least 20 net new full-time jobs. To receive $5,000 per job (max $100,000 per company), the following criteria must be met:
- Must create at least 20 net new full-time equivalent jobs to receive $5,000 per job in incentives with a maximum of award of up to $100,000 per company.
- To receive incentives per job, average wage criteria must be 125% of average wage in the City of Rancho Cordova. Currently, the City’s average wage is $56,400. 125% of the average wage would be at least $70,500. Industries in the City with wages above $70,500 include advanced manufacturing, management and professional services and life sciences.
- Companies should be post-revenue or have recently secured a Series A or above round funding, sufficient to sustain capital and operating expenses.
Contact firstname.lastname@example.org for more information or call 916-851-8780.
Business Incentive Program
The Rancho Cordova Business Incentive Program promotes new business development; existing businesses wanting to expand into vacant, existing space; and enterprises that will hire or retain employees in the City, thereby contributing to the local economic prosperity. Each project will be reviewed on a case-by-case basis and any incentives offered will depend on the type of project and its capital investment, as well as the project's ability to address the Program Priorities. Click here to view the priorities and other guidelines. Please call us at (916) 851-8700 or email email@example.com if you have any questions.
Commercial Façade Improvement Program
The Commercial Façade Improvement Grant Program leverages public funds and private investment to enhance the physical appearance and economic vitality of commercial businesses in the City of Rancho Cordova. The long-term objective is to improve the physical appearance of our commercial properties, encourage retention of existing businesses, and increase property values, tenant stability and lease rates for the property. Click here to view the full guidelines of the program. Please call us at (916) 851-8700 or email firstname.lastname@example.org if you have any questions.
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.
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 email@example.com.
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 the Grow Sacramento Fund website for more details about the program. Contact Diana Sasser with the Grow America Fund at firstname.lastname@example.org or (916) 732-5499 for more information.
SMUD Loan Programs
Sacramento Municipal Utilities District (SMUD) has several Loan Programs to help small businesses start, expand and succeed. Read about their options here.
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.
The City may be able to offer sewer hookup fee incentives for certain projects. See also Sacramento Regional County Sanitation District.
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.
California Infrastructure Economic Development Bank (IBank)
IBank is the State of California only general purpose financing authority. The Legislature created IBank in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy, and improve the quality of life in California communities. IBank's current programs include Infrastructure State Revolving Fund (ISRF) Program, Bond Financing Program, as well as the Small Business Finance Center. Visit the IBank website to learn about these programs.
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.
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.