Kern County Economic Incentive Policy Highlights

KERN COUNTY ECONOMIC INCENTIVE PROGRAM

Incentives:

+ Individually tailored performance-based incentives with NO CAP on maximum incentives.

+ County managed economic incentives may include:

–Reimbursement of a percentage of the cost of constructing offsite improvements.

          –Revenue sharing subsidies including property, sales taxes, use taxes, transient occupancy taxes, documentary transfer taxes, business license taxes, and any other local revenue stream generated directly by the project.

          –The County may offer other indirect financial incentives or forms of assistance.

+ Other governmental incentives that may be available include:

–Employee training/placement assistance.

          –Assistance obtaining state tax incentives.

          –Recycling Market Development Zone incentives.

          –Industrial Development Bond Financing.

Eligibility:

Generally speaking, the amount of assistance provided will be reflective of the benefits to the community provided by the project, including the creation of jobs of a number, type and quality reflective of expanding Kern County’s economy, with priority given to those projects that fall within the County’s identified cluster of priority focus and meaningfully increase Kern County’s job base with new full time jobs.  In addition, the project:

+ Is occupied or operated by the owner of the property, or is subject to a long-term lease agreement.

          + Retains or creates at least 100 new FTE jobs or creates at least 10 full time jobs that pay 200% or more of the sustainable wage for each job.

          + Includes “local hire” as a component, to the extent legally feasible.

          + Is located in an area where existing infrastructure exists or can be readily extended.

          + Is located within unincorporated Kern County and not within a municipal boundary or sphere of influence of any city.

          + Would not require a Zoning Code amendment or General Plan amendment to change the land use designation for the property in order to obtain authorization for the use.

          + Does not violate any local, State or Federal regulation.

          + Includes specific performance criteria such as job creation and net increases in County revenues that are quantifiable.

Targeted industries:

         + Logistics

         + Warehousing

         + E-Commerce

         + Destination retail

         + Value-added agriculture

         + Transportation

         + Tourism

         + Recreation and entertainment

         + Medical technology

         + Aerospace and defense

 

Contact:           John DeGrinis, SIOR    (818) 325-4110

                        john.degrinis@colliers.com

                       

Link to Kern County Economic Incentive Policy and application information