Small Business Assistance

The City of Wasco office of Economic Development has partnered with the Valley Small Business Development Corporation (VSBDC)

We are your one stop shop for all things business. If you are in need of business development  assistance, start-up assistance, relocation, business loan, or expansion, give us a call and we can help. Allow us to help you grow with us!

VSBDC (559) 438-9680

www.vsbdc.com

Workforce

Employment Training Panel (ETP):
Provides funds to offset the cost of developing and implementing customized training programs for current and new employees.

Welfare to Work Tax Credit (WWTC):
Federal tax credit up to $8,500 per individual over two years for hiring qualified long-term public assistance recipients.

 

Work Opportunity Tax Credits (WOTC):
Federal tax credit up to $2,400 per individual based on qualified first year earned wages.

 

Employers' Training Resource Workforce Investment Act (WIA):
On-The-Job Training program offers employers up to 50% reimbursement of trainee’s wages during their training. This incentive to employers will increase employment, promote job retention, and provide occupational skills while improving the quality of the workforce.

 

Career Services Center:
No fee services include: developing a customized recruitment plan, posting available positions locally and on the internet, qualifying applicants according to employer specifications, and providing technical assistance during the hiring process.

 

Financial

Kern County Incentive Program:
Rebates of property and sales/use taxes city incentives- additional financial assistance.

Kern Microenterprise Opportunity Program:
Financial and business assistance for businesses with five or fewer employees, whose owners reside or business location is within Kern County excluding the city limits of Bakersfield, Delano, McFarland, Taft, Wasco, and where low to moderate income persons will benefit.

Economic Revitalization Manufacturing Property Tax Rebates:
For expanding and new businesses that create at least ten, $10 per hour jobs.

Sales Tax Exemption:
Five percent state sales tax exemption on purchase of tangible property for manufacturing, processing, refining, fabricating or recycling businesses.

Net Operating Loss Carryover:
Businesses that experience a loss can carry the loss forward to next year to offset income in the following years.

Industrial Development Bonds:
Used for assembling, fabricating, manufacturing or processing projects which create a product for sale, energy development projects, production, collections or conversion projects which manufacture or process recycled or reused products and materials.

Research & Development Credit:
Eleven to twenty-four percent state income tax credit.

Child Care Tax Credit:
Credits against bank and corporations tax liability for start up costs of a childcare program or construction of childcare facility.

SBA 504 Loans:
Provides ninety percent real estate financing.

USDA Rural Development:
Infrastructure grants, loan guarantees, rural economic development grants and loans.

Small Business Assistance:
Small and start up business assistance, financing, business plans.

CDBG Grant Assistance:
Wasco has received multiple awards of Block Grants and has the ability to assist businesses with infrastructure, equipment, and purchasing.

Incentive Zone

RMD:
Recycling Market Development Zone (RMDZ) - Low interest loans and assistance for manufacturers using recycled materials.