Financing
The City of Kingsburg offers a wide variety of financial incentives in order to help your business grow! These can vary from the incentives seen on our Incentives page, to the grant programs seen in our Facade/Alley Program page.
California Competes Credit is an tax credit program for businesses wanting to move into California. It can provide income tax credit as well as sales tax exemptions for purchasing manufacturing related equipment.
If you are doing research and development within California you may qualify for income tax credit.
Industrial Development Bonds (IDBs) provide manufacturing companies with low interest, low cost financing for capital expenditures.
The California Capital Access Program (CalCap) encourages banks and financial institutions to loan to small businesses that do not quite meet most banks' conventional underwriting standards. CalCap will cover 100% of certain loan defaults, if they qualify.
The New Employment Opportunity (NEO) Program is a 6-month wage reimbursement program that will cover 100% of wage costs for the first 3 months and 75% the following 3 months.
New Employment Credit can be provided to qualified new businesses. The employment must be within a specific Designated Geographic Area (DGA) and employer must obtain credit reservation on employee prior to hire. Credit is 35% of wages paid between 150% to 350% of California minimum wage. In certain areas, credit is based on wages paid between $10.00/hr and 350% of minimum wage.
Federal Tax Credit is available for the hiring of qualified personnel for specific positions. Maximum credit ranges from $1,200 to $9,600 all depending on the position in question. This program is pending renewal
The Employment Training Panel is a California incentive that reimburses employers the cost of training new and current employees. Reimbursement varies depending on the job type
State Incentives
California Competes Credit is an tax credit program for businesses wanting to move into California. It can provide income tax credit as well as sales tax exemptions for purchasing manufacturing related equipment.
If you are doing research and development within California you may qualify for income tax credit.
Industrial Development Bonds (IDBs) provide manufacturing companies with low interest, low cost financing for capital expenditures.
The California Capital Access Program (CalCap) encourages banks and financial institutions to loan to small businesses that do not quite meet most banks' conventional underwriting standards. CalCap will cover 100% of certain loan defaults, if they qualify.
Other Incentives
The New Employment Opportunity (NEO) Program is a 6-month wage reimbursement program that will cover 100% of wage costs for the first 3 months and 75% the following 3 months.
New Employment Credit can be provided to qualified new businesses. The employment must be within a specific Designated Geographic Area (DGA) and employer must obtain credit reservation on employee prior to hire. Credit is 35% of wages paid between 150% to 350% of California minimum wage. In certain areas, credit is based on wages paid between $10.00/hr and 350% of minimum wage.
Federal Tax Credit is available for the hiring of qualified personnel for specific positions. Maximum credit ranges from $1,200 to $9,600 all depending on the position in question. This program is pending renewal
The Employment Training Panel is a California incentive that reimburses employers the cost of training new and current employees. Reimbursement varies depending on the job type
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Jolene Polyack
Consulting Economic Development CoordinatorPhone: 559-284-2421