State Treasurer Gives L.A. Business Leaders First Look at
New, Robust Online Business Development Gateway
Designed to Spur Job Creation and Economic Expansion
California Business Incentive Gateway (cbig.ca.gov) matches businesses with
economic development opportunities by category, incentive type, location and more
Mar. 21, 2018
LOS ANGELES -- California State Treasurer John Chiang today introduced Los Angeles business leaders to CBIG.ca.gov, the California Business Incentives Gateway. The Treasurer’s new, online gateway connects business owners and entrepreneurs to a powerful new interactive suite of growth and job incentives – including tax credits, loans and bond financing. Chiang provided the in-depth look at CBIG to the Los Angeles Economic Development Council (LAEDC)’s Board of Governors.
“CBIG is open for business. California is launching its version of Amazon or Angie’s List, but instead of connecting people with products or services, we will be connecting businesses — ranging from local mom-and-pops to multinational corporations — with the economic incentives, permitting assistance, and employee training that they need to grow and prosper,” Chiang said. “Today, there are hundreds of incentives and opportunities for businesses just a click away, tomorrow there will be thousands. We are taking a page from the innovative marketplaces pioneered by California’s tech sector to propel not just business creation and expansion, but ultimately jobs, jobs, and more jobs.”
Landon Miller, COO of Aemerge RedPak Services, agrees. Aemerge converts problematic waste into clean energy. The company was recently awarded millions in tax-exempt bonds and a $3.1 million sales tax exclusion from the State Treasurer’s office to build a state-of-the-art medical waste recycling processing plant in the City of Hesperia.
“The business incentives gateway created by the State Treasurer’s Office represents a new and useful tool to view many of the programs that we have used to aid in the expansion of our company and the construction of new facilities,” Miller said.“The financial assistance has allowed us to create more good-paying jobs right here in California.”
Businesses, including those within the region’s vast film and television industry, will discover opportunities to encourage more government agencies to post more incentives through a simple, searchable platform.
CBIG features such incentives as:
- Sales tax exclusions
- Training grants
- Fee waivers
- Permit assistance
- Reduced utility rates
- Employee recruitment
CBIG makes it simple for local, state and federal government agencies to post an incentive. Its user interface makes searching and applying for incentives akin to state-of-the-art online shopping experiences, like Amazon.com. Businesses can search by location or industry to find the most advantageous opportunities.
“Nothing yet built has aimed to deliver precisely the benefits CBIG can deliver to California businesses,” the Treasurer said. “Twenty counties, cities and municipalities in the L.A. region have already seeded the site with incentives. From West Hollywood to El Monte and from Burbank to La Mirada – Los Angeles is burgeoning with incentives and economic development opportunities. But who knows what they are? Or how to connect with them? CBIG is the answer.”
Already, 84 federal, state, and local government agencies are offering nearly 340 incentives on CBIG. Another 50 public agencies – associated with hundreds of additional economic incentives – have registered and are in various stages of listing their offerings on this new and exciting online platform.