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RIVERSIDE COUNTY ECONOMIC UPDATE
E-NEWSLETTER
e Division continued sharing Riverside County’s good news
via the Economic Update e-newsletter which provides
monthly communication about exciting new developments
in Riverside County.
TRADESHOWS AND SPECIAL EVENTS
e Economic Development Agency promoted Riverside
County to over 60,000 business decisionmakers at the following
key venues:
SelectUSA International Investment Conference,
Washington, D.C.
Medical Design & Manufacturing in Anaheim, California
International Council of Shopping Centers in Las Vegas,
Nevada
Industrial Asset Management Council Forum in Indian
Wells, California
Meet the Consultants Forum in Santa Rosa, California
Inland Empire Manufacturing Summit, Riverside, California
CALIFORNIA COMPETES TAX INCENTIVE
PROMOTION
During this fiscal year, the State of California implemented
the California Competes Tax Credit which offers an income
tax credit for companies that are growing and expanding in
California. e Economic Development division has actively
promoted the tax credit to the business community which
thus far has resulted in thirteen companies receiving $8.3
million in tax credits. ose companies will create 3,695 jobs
and invest over $521 million in Riverside County.
BUSINESS SEMINAR SERIES
Assisting business access to the myriad services available to
them is a key principle of the division’s goals and objectives.
Economic Development continued its business seminar series
by partnering with the State of California Board of Equalization,
the County’s Environmental HealthDepartment, the CDC Small
Business Finance Corporation, and ShareKitchen to deliver
topical seminars on topics such as:
How to Start a Food-Based Business
Small Business Financing
Sales and Use Tax for Food Operations
Seminars were held in Cathedral City and Corona and attracted
over forty business owners who learned about important
resources and tools that help businesses. Upcoming seminars
will focus on the California Competes Tax Credit and various
business assistance programs and services.
INLAND SOCAL LINK INNOVATION HUB
e Inland SoCal Link iHub was designated in the fall of 2013
by theGovernor’sOffice of Business and EconomicDevelopment
(GO-Biz) and recognizes an innovative partnership between
the counties of Riverside and San Bernardino, the University of
California, Riverside and the Port of Los Angeles. e iHub
partnership is based on the premise that the inland Southern
California counties and the Port of Los Angeles are linked by
trade corridors that are part of an international economy that
spans the entire region. Collaboration amongst the iHub partners
is mutually beneficial and facilitates economic development in
inland Southern California while supporting the goals and
objectives of the Port of Los Angeles.
Highlighted achievements of the iHub have included the following:
Coordinated and participated in the University of California,
Riverside’s Innovation Day which highlighted start-up and
emerging technology entrepreneurs from the campus.
Riverside and SB County EDAs attended (with LA Port’s
support) the SelectUSA conference inWashington D.C. to
promote the Inland So Cal Link iHub to an international
audience (March 2015)
Supported the TriTech Small Business Development Center
including its annual Funding theBig Ideaevent andcompetition.
Support the establishment of the Riverside County and
University of California, Riverside ExCITE incubator which
has already yielded 6 new start-up companies and created
25 jobs.
Hosted statewide iHub Coordinators at the University of
California, Riverside on February 26, 2015.