Incentives/Incentive Zones

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The City of Eastvale Business Incentive Loan and Community Development Block Grant (CDBG) Job Creation and Business Incentive Loan Policies are intended as a guide in making credit decisions regarding applications for Business Incentive Loan projects. It should be used as a tool to provide consistency for project selection. Projects will be considered on a case-by-case basis, until available funding is exhausted. Interested parties should fill out a Business Incentive Loan or Community Development Block Grant Job Creation and Business Incentive Loan Application (last pages of each policy document) which will be reviewed by a loan committee.

Business Incentive Loan Policy

Community Development Block Grant Policy 

 

Incentive Zone - Foreign Trade Zone 244

Foreign Trade Zone 244 Flyer
Foreign Trade Zone 244 Savings Calculator: Please use this worksheet to calculate potential savings.

The Foreign Trade Zone (FTZ) program helps American companies improve their competitive position versus their counterparts abroad. The FTZ program allows U.S. based companies to defer, reduce, or even eliminate Customs duties on products admitted to the zone.

 

 What are the benefits to a zone user?
  • Duty Exemption. No duties on or quota charges on re-exports.
  • Duty Deferral. Customs duties and federal excise tax deferred on imports.
  • Inverted Tariff. In situations where zone manufacturing results in a finished product that has a lower duty rate than the rates on foreign inputs (inverted tariff), the finished products may be entered at the duty rate that applies to its condition as it leaves the zone-subject to public interest considerations.
  • Logistical Benefits. Companies using FTZ procedures may have access to streamlined customs procedures (e.g. "weekly entry" or "direct delivery").
  • Other Benefits. Foreign goods and domestic goods held for export are exempt from state/local inventory taxes. FTZ status may also make a site eligible for state/local benefits which are unrelated to the FTZ Act.

 

 What are the public benefits?
  • Help facilitate and expedite international trade.
  • Provide special customs procedures as a public service to help firms conduct international trade related operations in competition with foreign plants.
  • Encourage and facilitate exports.
  • Help attract offshore activity and encourage retention of domestic activity.
  • Assist state/local economic development efforts.
  • Help create employment opportunities.

 

What activity is permitted in Zones?  
  • Merchandise in a zone may be assembled, exhibited, cleaned, manipulated, manufactured, mixed, processed, relabeled, repackaged, repaired, salvaged, sampled, stored, tested, displayed and destroyed.
  • Manufacturing, processing and any activity that results in a change of the tariff classification must be specifically approved by the FTZ Board.
  • Retail trade is prohibited in zones.

 

Low-Income Housing Tax Credit Programs

The California Tax Credit Allocation Committee (TCAC) facilitates the investment of private capital into the development of affordable rental housing for low-income Californians. TCAC allocates federal and state tax credits to the developers of these projects. Corporations provide equity to build the projects in return for the tax credits. TCAC verifies that the developers have met all the requirements of the program and ensures the continued affordability and habitability of the developments for the succeeding 55 years.

The City of Eastvale is considered “high resource” and you may be eligible for incentives. https://www.treasurer.ca.gov/ctcac/tax.asp

 

 Choose the City of Eastvale for FTZ 244 benefits!