The City of Pomona offers a generous package of local and State business development incentives.
Revitalization Zone
The City of Pomona Revitalization Zone offers the following tax incentives to qualifying businesses:
Hiring Credit: Allows for a five-year tax credit of up to 50% of a qualifying employee's wages per year.
Construction Hiring Credit: Allows for a tax credit of 50% of the lesser of actual wages paid or 150% of the minimum wage paid to qualifying construction employees.
Sales and Use Tax Credit: Allows Sales and Use Taxes paid on qualifying property to be used within a Revitalization Zone to be credited against taxes.
Business Expense Deduction: Allows the purchase of tangible personal property used for business purchases (i.e. equipment and furnishings) to be deducted as a business expense.
Net Operating Loss Carryover: Allows 100% of net operating losses to be carried over to future years.
Net Interest Deduction for Lenders: Allows lenders to deduct net interest on loans made to a trade or business in a Revitalization Zone from taxable income.
These incentives are available nowhere else in the San Gabriel Valley or the Inland Empire.
Property Tax Rebates
The City of Pomona Redevelopment Agency may offer substantial property tax rebates based on number of jobs created, revenue generated, contribution to reducing blight, and other factors. The specific amount of rebate is dependent on these factors.
Assistance with Infrastructure
The Redevelopment Agency may also offer substantial assistance with infrastructure, including but not limited to sewage, utility, and easement assistance. Other departments may be able to lend assistance as needed.
Permit Streamlining
The City of Pomona offers a "One Stop Permitting" center, which substantially facilitates obtaining permits.
Employee Training
The City administers several programs (both locally and State funded) that provide training for employees at little or no cost to the employer.
Redevelopment Project Areas
The Pomona Redevelopment Areas allow the use of tax increment funds for assistance with development projects. While specific terms of the RDA assistance is determined by agreement with the Redevelopment Agency and the City Council, substantial assistance can be provided.
Utility Tax Cap
The City of Pomona's utility user's tax is capped at $85,000 total and $5,000 for businesses with 50 or fewer employees.
Revitalization Zone Employment Resources
The organizations listed below offer assistance in finding employees who meet the requirements for Revitalization Zone tax incentives. Both the Urban League TEC Center and the Pomona Adult School provide job reference services and can refer qualified applicants who live within the revitalization zone to employers. For more information, contact:
Los Angeles Urban League
TEC Center
Dorothy Durr
264 E. Monterey Ave.
Pomona, California 91767
(909) 623-1581 Pomona Adult School
Ceci Lopez
Job Placement Specialist
605 N. Park Ave.
Pomona, California 91767