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Porterville Incentives

DEVELOPMENT FEE PAYMENT PLANS

The City of Porterville's Development Fee Payment Plan program is available for industrial, commercial, and affordable housing projects located within City limits. The Development Fee Payment Plan allows property owners to finance the development fees on a project over ten years at zero percent interest, with the first payment due upon permit issuance and annual installments made for the remainder of the term.

RECYCLING MARKET DEVELOPMENT ZONE (RMDZ)

The City of Porterville was designated as one of California's  first Recycling Market Development Zones (RMDZ) in 1990. The Department of Resources Recycling and Recovery (CalRecycle) administers a Recycling Market Development Zone (RMDZ) Loan Program to encourage California-based recycling businesses located within California to locate new manufacturing facilities as well expand existing operations. 

HISTORICALLY UNDERUTILIZED BUSINESS ZONE (HUB)

HUBZone program seeks to encourage economic development in historically underutilized business zones through establishment of preferences for award of Federal contracts to small business located in such areas. 
To participate in the program:
  • Be a small business
  • Be at least 51 percent owned and controlled by U.S. citizens, a Community Development Corporation, an agricultural cooperative, an Alaska Native corporation, a Native Hawaiian organization, or an Indian tribe
  • Have its principal office located in HUBZone
  • Have at least 35 percent of its employees living in a  HUBZone

COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) FUNDING

Federal funding may be available for low interest business loans, for businesses located within City Limits.

FOREIGN TRADE ZONE (FTZ)

The City of Porterville is part of the Central San Joaquin Valley Region Foreign Trade Zone, a seven-county area.
  • Merchandise imported into a FTZ and later re-exported from the Zone is never assessed any customs duties.
  • Imported merchandise admitted into a Zone and then rejected, scrapped, or consumed in the Zone is not assessed any Customs duties.
  • Merchandise imported into a FTZ and then shipped to another Zone can be shipped duty-free to the receiving Zone. 
  • When components are imported into a FTZ and manufactured into a new product for re-export or sale in the U.S., the importer may elect to apply the finished product duty rate, or the component duty rate, whichever is lower. 
  • Importers located in a FTZ are only required to submit one Merchandise Processing Fee (MPF) per week, thus reducing MPF costs to importers who otherwise would file multiple entries. 

OPPORTUNITY ZONE

The Opportunity Zones program is designed to incentivize patient capital investments in low-income communities nationwide. All of the underlying incentives relate to the tax treatment of capital gains, and all are tied to the longevity of an investor's stake in a qualified Opportunity Fund, providing the most upside to those who hold their investment for 10 years or more. 
  • A temporary deferral of inclusion in taxable income for capital gains reinvested into an Opportunity Fund. 
  • A step-up in basis for capital gains reinvested in an Opportunity Fund. 
  • A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in an Opportunity Fund if the investment is held for at least 10 years. 

FUNDING
           
The California Department of Resources Recycling and Recovery (CalRecycle) offers funding opportunities authorized by legislation to assist public and private entities in the safe and effective management of the waste stream. Applicants can apply online for many of CalRecycle's grant programs by using the Grants Management System (GMS). Applicant must first go tot the GMS Information page to obtain appropriate access to GMS, and then may search the GMS for available grants or go to the specific grant's webpage for information about the next offering. Visit CalReycle at https://www.calrecycle.ca.gov/Funding/

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