Economic Development Coalition: Your Catalyst for Economic Growth In Southwest Riverside County

By: Sharjeel Sohaib

• 

Jul 1, 2022

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Economic Development

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Economic Development Coalition is a Californian non-profit organization. Its goal is to bring together public and private partners to capitalize on California’s comparative advantage to draw in business and support a high standard of living.

We Covered this in our Weekly Wire Roundup

Overview of the Economic Development Coalition (EDC)

The EDC is a non-profit organization established more than 30 years ago to support thriving businesses. They have the people and relationships to bring you from seeking to construction, whether you’re a local or new to California.

The EDC of California has been working with local governments and other organizations to accelerate the business community in California.

The organization’s goal is to improve the growth of the company and retention by fostering economic expansion and a favorable business climate that contributes to the region’s long-term prosperity. The Economic Development Coalition is trusted by businesses in Southwest California to take the lead in economic development to build a thriving, sustainable economy that offers high-paying employment.

Services Offered by Economic Development Coalition

California Competes Tax Credit: The income tax credit is given to companies who wish to move to, remain in, or expand in California. To determine whether your company qualifies, the EDC team offers no-cost consultations.

Advanced Transportation and Manufacturing Sales and Use Tax Exemption: Manufacturers who support alternative energy and advanced transportation are eligible for a complete sales and use tax exemption, according to the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA).

Research & Development Tax Credit: If a firm paid for or incurred qualifying research costs while engaging in qualified research activity in California, it may be eligible for an income tax credit. Wages, materials, and contract research fees are all examples of qualified research expenses.

ZEV Financing Opportunities: The state of California and local governments provide a range of incentives, financing choices, and grants to assist property owners, companies, and Californians in switching to zero-emission cars (ZEVs) and installing ZEV infrastructure with a qualified workforce. 

Economic Development Rate Program: This program offers exclusive utility savings to companies in California that need high energy loads to start up or maintain operations.

Workforce Training Funds: Companies can take advantage of a range of recruiting and tax incentive programs through On the Job Training Programs (OJT) and the Employment Training Panel. These programs can help a company hire new staff or improve the abilities of its present team.

Site Selection: EDC will use its network to locate the ideal site for you to launch or expand your business. Local companies profit from a culture that is supportive of business, a highly trained (and available!) labor force, conveniently accessible logistics and transportation, and a group of experts that are prepared to assist you in starting to expand right away. They won’t squander a minute of it because they are aware of how important your time is.

Conclusion

The EDC’s mission is to help businesses grow. The organization does this by offering services on a state level, ranging from member recruitment to marketing and workshops to government relations. The EDC works with big and small businesses and has proven to be effective for many regional companies.


In one of our previous news articles, we covered Entrepreneurs Exchange (TVE2), a business incubator and regional resource center supporting entrepreneurship.

TVE2 is a resource for entrepreneurs and small business owners that supports starting, growing, and expanding their businesses. They aim to provide an environment that fosters innovation, collaboration, and learning opportunities for entrepreneurs.

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