Incentives & Grants
Here are some of the programs and tools that link businesses with valuable incentives and grant resources:
- Research and Development Tax Credit
Companies planning to take advantage of the Bay Area’s superior research and development resources will be interested to know that California offers generous research and development tax credits. The tax credit allows companies to receive a credit of 15 percent for qualifying in-house research expenses and 24 percent for basic research payments to an outside company or university.
- California Energy Commission PIER Program
The California Energy Commission’s Public Interest Energy Research (PIER) program supports research, development and demonstration projects that will help improve the quality of life in California by bringing environmentally safe, affordable and reliable energy services and products to the marketplace.
- Industrial Development Bond Program for Equipment and Facilities
For real estate and equipment projects that do not exceed $20 million, the East Bay offers one of California’s most successful tax-exempt Industrial Development Bond programs. This program provides low-cost, long-term financing for real estate and equipment projects that retain or create employment in Alameda or Contra Costa counties. The bond proceeds may be used for the financing of new capital projects, including land and building acquisition, construction, renovation, and new machinery and equipment.
- Contra Costa County Workforce Development Board
The board brings together leaders from business, economic development, education, labor, community-based organizations, and public agencies to shape programs that enhance the competitiveness of the local workforce and support economic vitality.