RCEDA 8.5x11 Report d3

RiversideCounty BusinessCenters –Network of Innovation The Riverside County Business Center network serves as a hub for EDA to coordinate economic development and small business service delivery. The Centers are strategically located in downtown Riverside, the Coachella Valley and French Valley. Highlights for 2017/18 include: • The French Valley Business Center opened at the French Valley Airport where economic and workforce development staff work together to serve the business community. • The Riverside Business Center hosts business assistance seminars and one-on-one consulting in partnership withmany organizations. During this fiscal year, Riverside County EDA and the University of California, Riverside established the EPIC Small Business Development Center which calls the Riverside Business Center home. The Center is also used by technology meet-up groups who need an after-hours location for their meetings.

California Competes Tax Incentive During this fiscal year, the State of California implemented the California Competes Tax Credit which offers an income tax credit for companies that are growing and expanding in California. The Economic Development division has actively promoted the tax credit to the business community which this fiscal year has resulted in:

7 companies receiving $11,250,000 million in tax credits 1,847 jobs will be created Over $457 million capital investment in Riverside County

Business Seminar Series Assisting business access themyriad of services available to them is a key principle of the division’s goals and objectives. Economic Development continued its business seminar series by partnering with the EPIC Small Business Development Center, Inland Empire Small Business Development Center and the Coachella Valley Small Business Development Center to deliver topical seminars on topics such as: How to Start a Business Emprendedores ( How to Start a Business in Spanish) Small Business Financing Quickbooks for Small Businesses Cocineros (Spanish Language Food Entrepreneurship Program in Coachella) Payroll Taxes and Unemployment Insurance for Businesses Seminars were held in Riverside and Indio and attracted several hundred business owners who learned about important resources and tools that help businesses.

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