2016-17 Annual Report

benefit to the County in the form of lead generation, policy formulation and capacity building. Because of its expertise in Economic Development, EDA is frequently sought to participate in strategy development and planning with a number of statewide and local organizations Partners include: • Governor’s Office of Business and Economic Development • California Association for Local Economic Development • Inland Empire Economic Partnership • Corporate Real EstateNetwork Southern California Chapter • California Association for Local Economic Development • Economic Development Corporation of Southwest California • Coachella Valley Economic Partnership • Inland Empire Economic Partnership • Riverside County Innovation Alliance East Valley Coalition and Coachella Valley Small Business Development Center • The cities of Coachella, Indio, La Quinta and the County of Riverside formed a partnership in order to conduct regional economic development activities. The Coalition has defined measures and outcomes within a formalized structure. EDA manages markets and administers economic development programs and projects in the eastern Coachella Valley. Activities of the East Valley Coalition include:

and objectives. Economic Development continued its business seminar series by partnering with the TriTech Small Business Development Center (SBDC), Inland Empire SBDC and the Coachella Valley SBDC to deliver seminars on topics such as: • How to Start a Business • Small Business Financing • Quickbooks for Small Businesses • Payroll Taxes and Unemployment Insurance for Businesses Seminars held in Riverside and Indio attracted over 75 business owners who learned about important resources and tools that help businesses. Upcoming seminars will focus on the California Competes Tax Credit and various business assistance programs and services. Small Business Assistance Services The Economic Development division partners with the Inland Empire and TriTech Small Business Development Centers and the Coachella Valley Economic Partnership to offer numerous services to the County’s business community. These organizations had the following economic impact: • 75 Business Start-ups • 191 Jobs Created • 234 Jobs Retained • $31.5 million Total Economic Impact Riverside County’s involvement has forged critical partnerships with internal and external partners that allow it to be on the forefront of economic development activity at the state and local level. Involvement in these organizations yields tremendous Strategic Partnerships & Organizational Leadership

• Serve as a clearinghouse for small business assistance to aid start-up and business expansion efforts. • Assist with the coordination and targeting of available federal, state and local incentive and development programs. • Provide technical assistance and relevant demographic data via the agency’s Business Intelligence Team. • Serve as a lead generation source for new business investment and primary source of contact for companies exploring the eastern Coachella Valley region. In 2016, EDA applied to be the operator of the Coachella Valley SBDC on behalf of the U.S. Small Business Administration and SBDC Lead Center, Cal State Fullerton. As the successful applicant, EDA will receive over $200,000 in annual funding to provide in-depth, high-quality assistance to small business and prospective small business in complex areas that require specialized expertise. These areas may include, but are not limited to: management, marketing, financing, accounting, strategic planning, regulation and taxation, capital formation, venture capital, procurement, human resource management, production, operations, economic and business data analysis, engineering, technology transfer, innovation and research, new product development, product analysis, plant layout and design, computer application, business law and referral, exporting, office automation, site selection, or any other areas of assistance required to promote small business growth, expansion and productivity in the State. SBDC/EVC Statistics: • 12 projects in process • 505 jobs

• $100 million capital infusion in process • 126 Clients Counseled Economic Development Capacity Building The Division contributed over $200,000 to the following regional and specialized agencies to provide additional programs and services that reinforce EDA’s economic development objectives: • Inland Empire Small Business Development Center • Temecula Valley Wine Growers Association • Temecula Valley Balloon & Wine Festival Association • Coachella Valley Economic Partnership • TriTech Small Business Development Center • Cal State San Bernardino Spirit of the Entrepreneur Awards • Cal State San Bernardino Report on Business • Inland Empire Economic Partnership • University of California, Riverside Center for Economic Development and Innovation

24 Active projects completed or in process.

$438million Capital infusion.

3,847 Jobs.

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