Taxes & Incentives

The proof is in the performance

As the world’s fourth largest economy, the nation’s #1 state for startups, and the top state for Fortune 500 companies (57—the most of any state), California grows business and nurtures success. Transformative financial and tax incentives are key to that growth; they are also part of Loma Linda’s tailored package of state and local support that helps businesses flourish.
In Loma Linda, incentives facilitate growth across critical areas of need:

Rewards for job creation.

California Competes Tax Credit (CCTC) provides performance-based income tax credits for qualified businesses expanding or relocating in the state. Unlike other states’ job tax credits, the CCTC can be carried forward to future years. Since 2022, the CalCompetes credit has energized sectors including manufacturing and financial services with credits of more than $17 million.
Work Opportunity Tax Credit offers employers a federal tax credit up to $9,600 when they hire people in targeted groups.

Funding and expertise for workforce development.

Reduced-cost staffing and development through several entities including:

San Bernardino Workforce Development Department (WDD) is a one-stop nexus for employers and job seekers where employers can access a large pool of screened applicants. Customized and on-the-job training is also available at reduced costs for incumbent workers as well as new hires.
California Employment Training Panel (ETP) provides funding for employer-driven upskilling efforts. This empowers employers to effectively assess needs, customize curricula and implement training. Since 1982, ETP has reimbursed 80,000 employers well over $1 billion for training.

Assistance in startups and ongoing operations.

Manufacturing Sales and Use Tax Credit is a partial tax exemption for select manufacturing equipment purchase or leases for qualified business
Research and Development Tax Credit is a tax credit for qualified business for up to 15% for qualified in-house research expenses and up to 24% for payments to outside contractors.
Manufacturing and R&D Partial Sales and Use Tax Exemption is a tax exemption of 3.9375% for qualified business in manufacturing and for other entities primarily engaged in life sciences-related R&D.
California Infrastructure and Economic Development Bank (iBank) provides loans and financial resources for a variety of purposes for both large and small businesses, including funding mechanisms such as Industrial Revenue Bonds and the Small Business Loan Match program.

Rewards for job creation.

California Competes Tax Credit (CCTC) provides performance-based income tax credits for qualified businesses expanding or relocating in the state. Unlike other states’ job tax credits, the CCTC can be carried forward to future years. Since 2022, the CalCompetes credit has energized sectors including manufacturing and financial services with credits of more than $17 million.
Work Opportunity Tax Credit offers employers a federal tax credit up to $9,600 when they hire people in targeted groups.

Funding and expertise for workforce development.

Reduced-cost staffing and development through several entities including:

San Bernardino Workforce Development Department (WDD) is a one-stop nexus for employers and job seekers where employers can access a large pool of screened applicants. Customized and on-the-job training is also available at reduced costs for incumbent workers as well as new hires.
California Employment Training Panel (ETP) provides funding for employer-driven upskilling efforts. This empowers employers to effectively assess needs, customize curricula and implement training. Since 1982, ETP has reimbursed 80,000 employers well over $1 billion for training.

Assistance in startups and ongoing operations.

Manufacturing Sales and Use Tax Credit is a partial tax exemption for select manufacturing equipment purchase or leases for qualified business
Research and Development Tax Credit is a tax credit for qualified business for up to 15% for qualified in-house research expenses and up to 24% for payments to outside contractors.
Manufacturing and R&D Partial Sales and Use Tax Exemption is a tax exemption of 3.9375% for qualified business in manufacturing and for other entities primarily engaged in life sciences-related R&D.
California Infrastructure and Economic Development Bank (iBank) provides loans and financial resources for a variety of purposes for both large and small businesses, including funding mechanisms such as Industrial Revenue Bonds and the Small Business Loan Match program.