Business Tax Credits & Incentives are very valuable tools to help businesses minimize tax liabilities. The links below will guide you to various sites that may be able to help your business obtain credits or other incentives.
WORK OPPORTUNITY TAX CREDIT
The Work Opportunities Tax Credit (WOTC) promotes the hiring of individuals who qualify as members of target groups, by providing a Federal tax credit incentive of up to $9,000 for employers who hire them.
Visit the Work Opportunity Tax Credit (WOTC) page on the EDD website
NEW MARKETS TAX CREDIT
The National New Markets Fund (NNMF) bridges financing gaps in real estate development projects by providing equity and debt to developers. NNMF identified four areas nationwide, including the Central Valley of California.
Visit the New Markets Tax Credit Program page on the Community Development Financial Institution (CDFI) website
The Historically Underutilized Business (HUB) Zone is administered by the Small Business Administration and was designed to stimulate economic development and create jobs in urban and rural communities by providing Federal contracting preferences to small businesses.
Visit the HUB Zone Information page on the City of Fresno website
FOREIGN TRADE ZONE
A U.S. Foreign Trade Zone (FTZ) is a designated area which, for Customs purposes, is considered outside the U.S. Nearly any imported merchandise can be brought into a FTZ for almost any kind of manipulation, duty-free.
Visit the Foreign Trade Zone page on the City of Fresno website