Incentives

GIS MAP OF YUMA COUNTY “NMTC & OPPORTUNITY ZONES”

NMTC & Opportunity Zones map

 

Site Selection Incentives

The Yuma region offers new and existing companies with a multitude of incentive packages for almost any industry sector. Lucrative training grants, tax credits and reductions in the taxes provide assistance to start-ups and mature enterprises alike.

City of Yuma Economic Development Incentive Fund

The City of Yuma has created a performance based incentive fund designed to encourage new business development, business expansions, and relocations. The fund can provide up to $1,500 per new hire, given to the company in an upfront cash grant award.

YUMA COUNTY ECONOMIC DEVELOPMENT INCENTIVE FUND

Yuma County has created a performance based incentive fund designed to encourage new business development, business expansions and relocations with infrastructure improvement requirements. The value of the fund is indexed based upon the cost to hire and train qualified new employees and/or infrastructure improvements to county maintained property up to $1,000/per new hire.

New market tax credit

Below market interest loans guaranteed by the federal government for the purpose of stimulating development in rural communities. Companies utilizing New Market Tax Credits pay on the interest only of the loan for seven years. After the 7th year, the loan is forgiven and the company is awarded the principal and equity of the loan.

Workforce Salary and Training Grant

Yuma’s Workforce Board offers programs that cover the entire costs of employee training, including teaching, materials, equipment and other expenses. Companies can additionally qualify for reimbursement of 50% employee salaries paid during training for up to 6 months.

construction sales tax reimbursement

The incentive provides up to 100% credit of construction sales tax to qualifying expenses such as job-training, public infrastructure improvements and/or offsets to impact fees.

plan permit expedition and fee waivers

The Cities pledged to expedite permits in as little as 15 days based upon designed and application completion. The City may also waive building, plan, and development permit fees.

mexican health care plan

The Mexico plan is underwritten by U.S. based firms and affords individuals the option to seek medical care in either San Luis Rio Colorado, MX or Algodones, Baja, MX (both sister cities to Yuma). Premium cost savings can include up to a 1/3 of the cost of a traditional U.S. plan.

yuma opportunity zones

Users within designated census tracts can benefit from no capital gains tax along with tax breaks on untaxed capital gains rolled into a zone.

Foreign Trade Zone #219

Along with duty and tariff elimination or reduction, Arizona offers up to an 80% reduction in state real and personal property taxes by operating in a  federally qualified Foreign Trade Zone.  The reduction is good for the entire time that a company operates in the FTZ.

STATE AND FEDERAL INCENTIVES