Union Bank – Banner
PizzaRev – Banner
Green Convergence – Sun Power – Banner
Galpin Motors – Banner
IHOP – Banner
AV Party Rental – Banner
SCV Senior Center – Touch A Truck 2015 – Banner
Academy Swim Club – Banner
Simply Taylored – Banner
Patterson’s Collision Center – Banner
Nothing Bundt Cakes – Banner
Brent’s Carpet One – Banner
College Of The Canyons – Banner
Santa Clarita Transit – Dump the Pump – Banner
Disneyland – Diamond Celebration – Banner
Action Family Counseling – Banner
All Americans Bail Bonds – Banner
San Diego Zoo – Generic – Banner
Beyond Harmony – Banner
Newhall Land – 2015 – Banner
Newhall Land – Banner
Adage IT – Banner
Santa Clarita Autosound – Banner
Facey – Banner
Valencia Town Center – Farmer’s Market – Banner
Hugo Naturals – Banner
It is forecast to be Partly Cloudy at 7:00 PM PDT on May 26, 2015
Partly Cloudy
Home » Santa Clarita News » Santa Clarita Opts For Industrial Strength Business Incentives

Santa Clarita Opts For Industrial Strength Business Incentives


Council approves Industrial Development Authority

The city of Santa Clarita made a big move toward providing local businesses with added incentives after a unanimous vote approving the creation of an Industrial Development Authority (IDA) Tuesday night.

The designation allows varying types of businesses new opportunities to access tax-exempt private activity bonds of up to $20 million dollars for projects located within City limits.

“A tax exempt bond status is huge for a local business because it significantly lowers the rate for them to borrow money,” said Denise Lellan, administrative analyst for the City.

The bond proceeds can be put toward purchases of land, facilities or equipment.

According to Lellan, even businesses outside of what is typically referred to as “industrial” lines of work can take advantage. Businesses that manufacture, fabricate or assemble items for sale qualify, as do those which specialize in intellectual products such as design, copyrights or software.

The idea for the IDA came about after City staff was charged to find new ways to spark economic development.

“The City Council directed Economic Development staff to basically leave no stone unturned and look at every possible avenue to increase benefit to our community,” Lellan said.

It isn’t clear just yet how much impact the designation will have on our community, however Lellan believes it could be large.

“A $20 million dollar investment in our community is huge, through building expansion, new equipment, new processes, new products, more employees…it’s an exponential growth.”

The IDA still needs to be passed out of a second reading before Council and a vote is scheduled for February 23. Once the item clears that hurtle, the designation should become effective 30 days later.

Santa Clarita Opts For Industrial Strength Business Incentives

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

About KHTS AM 1220

Academy Swim Club – News Banner
AV Party Rental – News Banner
Action Family Counseling – News Banner
Hugo Naturals – News Banner
Beyond Harmony – News Banner
College Of The Canyons – News Banner
All American Bail Bonds – News Banner
AV Party Rental – Tile
Newhall Land – Tile
Brent’s Carpet One – Tile
Newhall Land – 2015 – Tile
Facey – Tile
Academy Swim Club – Tile