The HUB Zone program seeks to encourage economic development in historically
underutilized business zones through establishment of preferences for award of Federal
contracts to small businesses located in such areas. The program falls under the
auspices of the U.S. Small Business Administration.
The goal of the program is to channel at least one percent of overall federal procurement
to HUB Zone small business.
- A small business' principal office must be located in a HUB Zone
- 35% of a participating firm's workforce must reside within a HUB Zone location
- The qualified company must be owned and operated by U.S. citizens
RECYCLING MARKET DEVELOPMENT ZONE
The City of Porterville was designated as one of California's first Recycling Market
Development Zones (RMDZ) in 1990. This program was created by the California
legislature to stimulate markets for recyclables and provide incentives to businesses
that use secondary materials from the waste stream for manufacturing. In 2003, the
City joined the Greater South San Joaquin Valley Recycling Market Development Zone to
expand its oportunities for market linkages in the Central Valley region.
FINANCIAL ASSISTANCE
The California Integrated Waste Management Board provides direct low-interest loans
of up to $2 million to qualified companies! Interest rates of 5.25% are available for
qualifying loans approved thru June, 2005. See grants and loans at www.ciwmb.ca.gov.
Funds may be used for:
- Acquisition of machinery and equipment
- Acquisition of owner-occupied real property
- Leasehold improvments
- Working capital
- Refinance of onerous debt (if related to the project)
GREATER SOUTH SAN JOAQUIN VALLEY
RMDZ BUSINESS DEVELOPMENT TEAM
The RMDZ Business Development Team may help you:
- Develop market and business plans
- Provide information on current market conditions
- Evaluate technology and equipment
- Development Fee Payment Plans
FOREIGN TRADE ZONE
The City of Porterville is part of the Central San Joaquin Valley Region Foreign Trade
Zone, a seven-county area.
FOREIGN TRADE ZONE (FTZ) BENEFITS:
- Merchandise imported into a FTZ and later re-exported from the Zone is never
assessed any Customs duties.
- Imported merchandise admitted into a Zone and then rejected, scrapped, or
consumed in the Zone is not assessed any Customs duties.
- Merchandise imported into a FTZ and then shipped to another Zone can be shipped
duty-free to the receiving Zone.
- When components are imported into a FTZ and manufactured into a new product for
re-export or sale in the U.S., the importer may elect to apply the finished product duty
rate, or the component duty rate, whichever is lower.
- Importers located in a FTZ are only required to submit one Merchandise Processing
Fee (MPF) per week, thus reducing MPF costs to importers who otherwise would file
multiple entries
