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Attracting jobs to the SCV

Posted: March 24, 2014 6:17 p.m.
Updated: March 24, 2014 6:17 p.m.

The SCVEDC is looking to connect with business owners who live in the SCV, but commute to work outside of the region.

 

In partnership with the County of Los Angeles, $200,000 has been made available to support an Industry Cluster Attraction Incentive (ICAI). The goal of ICAI is to attract new businesses to the Santa Clarita Valley in targeted industries. These industries include Aerospace & Defense, Medical Devices & Biotech, Manufacturing, Digital Media & Entertainment, and Information Technology.

To qualify, companies must begin operations in the Santa Clarita Valley with at least 40 employees. The incentive is used to reimburse costs associated with permitting from the County of Los Angeles and the City of Santa Clarita. Because it’s designed to grant $40,000 to companies with at least 40 employees, informally the incentive is referred to as the “Forty for Forty” program.

With 30 Million square feet of industrial and office space, including 2 Million square feet of new construction breaking ground in the upcoming months, the SCV offers tremendous opportunities for businesses to open a new operational location.

The decision to establish a new location is a big one for any company. This incentive helps defray permitting costs so companies can find the location that is right for them. The Santa Clarita Valley Economic Development Corp. (SCVEDC) is actively working with a list of companies believed to be good candidates to locate in the SCV and join the industry clusters in the region. For example, the SCVEDC is looking to connect with business owners who live in the SCV, but commute to work outside of the region.   

Qualifying companies also need to purchase their property or sign a five-year lease to ensure the jobs are created in the SCV. The “Forty for Forty” program is just one of the many incentives that the SCVEDC employs to attract, expand and retain jobs in the SCV. 

The SCVEDC works to provide an integrated approach to creating a diverse and robust economic base of businesses and industries in the Santa Clarita Valley. Please contact the SCVEDC at www.scvedc.org or (661) 288-4400 for more information about all available incentive programs.

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