Business and Investment in the East Bay

Industrial Development Bond Program

The East Bay Economic Development Alliance (East Bay EDA) offers tax-exempt Industrial Development Bonds (IDBs) to manufacturing businesses to relocate or expand in the East Bay.

IDB Program Requirement:

  • Manufacturing user;
  • For land and buildings (construction or renovation) and/or new equipment;
  • Between $3 million and $20 million; and
  • Meets standard lending criteria (Bank Letter of Credit required).

 

IDB Program Benefits:

  • Lower Interest rates;
  • Longer repayment (30 year real estate and/oruseful life of equipment);
  • Flexible structure (no ownership limitation and tax exempt, taxable, SBA 504 combinations);
  • Four years to draw-down the funds (construction or phased projects);
  • No prepayment penalty, the bonds are assumable; and
  • Taxable bonds can be used for ineligible expenses or projects.

 

Want to know if you are eligible? Please contact Luis Aguilar, (510) 272-3889 or luis@eastbayeda.org

EB-5 Immigrant Investor

The Immigrant Investor Program (EB-5) is administered by the United States Citizen and Immigration Services (USCIS) and was created to stimulate the economy through job creation and capital investment by foreign investors. It is an employment-based immigration policy to permit alien entrepreneurs to invest in new job-creating enterprises in exchange for an expedited lawful permanent resident immigration status. Under this program, certain EB-5 visas are set aside for investor in Regional Centers designated by USCIS based on proposal for promoting economic growth.

Employment Training Panel (ETP)

The Employment Training Panel is a state agency funded by a tax on employers, collected alongside the Unemployment Insurance tax. ETP that reimburses employers for the cost of training their workers and upgrading their skills.

Governor’s Economic Development Initiative (GEDI)

Manufacturing Equipment + Sales & Use Tax Exemption – Eliminates California portion of sales tax at the time of purchase.

New Employment Credit- California income tax credit available to employers for increasing jobs.

The California Competes Tax Credit – An income tax credit available to businesses that want to locate or stay and grow in California.