{"id":156,"date":"2017-02-27T14:17:16","date_gmt":"2017-02-27T22:17:16","guid":{"rendered":"https:\/\/www.yakimawa.gov\/services\/economic-development\/?page_id=156"},"modified":"2017-02-28T13:12:10","modified_gmt":"2017-02-28T21:12:10","slug":"incentives","status":"publish","type":"page","link":"https:\/\/www.yakimawa.gov\/services\/economic-development\/incentives\/","title":{"rendered":"Incentives"},"content":{"rendered":"<h2>Progress<\/h2>\n<p>No updates at this time.<\/p>\n<h2>Goal<\/h2>\n<p>Responsibly\u00a0offer\u00a0and\u00a0promote\u00a0a\u00a0diverse\u00a0portfolio\u00a0of\u00a0competitive\u00a0incentives\u00a0that\u00a0influence\u00a0business investment\u00a0in\u00a0favor\u00a0of\u00a0a\u00a0Yakima\u00a0location.<\/p>\n<h2>Why Important?<\/h2>\n<p>Incentives\u00a0alone\u00a0do\u00a0not\u00a0justify\u00a0a\u00a0business\u00a0location\u00a0decision.\u00a0However,\u00a0communities\u00a0that\u00a0provide incentives\u00a0demonstrate\u00a0they\u00a0are\u00a0business\u00a0friendly,\u00a0and\u00a0if\u00a0used\u00a0wisely\u00a0can\u00a0be\u00a0effective\u00a0tools\u00a0for\u00a0tipping the\u00a0scales\u00a0in\u00a0favor\u00a0of\u00a0the\u00a0community\u00a0when\u00a0all\u00a0things\u00a0are\u00a0equal\u00a0or\u00a0making\u00a0up\u00a0the\u00a0difference\u00a0when\u00a0a community\u00a0lags\u00a0competitively.\u00a0Incentives\u00a0are\u00a0also\u00a0valuable\u00a0in\u00a0\u201cshowing\u00a0the\u00a0love\u201d\u00a0to\u00a0expanding\u00a0local businesses\u00a0so\u00a0that\u00a0they\u00a0choose\u00a0to\u00a0expand\u00a0locally\u00a0instead\u00a0of\u00a0expanding\u00a0or\u00a0relocating\u00a0elsewhere.<\/p>\n<h2>Tactics &#8211; Incentives<\/h2>\n<ul>\n<li>Gather\u00a0information\u00a0on\u00a0current\u00a0toolbox\u00a0of\u00a0available\u00a0incentives\u00a0for\u00a0Yakima\u00a0businesses\u00a0(federal, state,\u00a0city,\u00a0SIED,\u00a0RCDR,\u00a0utilities,\u00a0WorkSource,\u00a0etc.)\n<ul>\n<li>Develop\u00a0template\u00a0to\u00a0gather\u00a0consistent\u00a0and\u00a0comprehensive\u00a0information\u00a0on\u00a0incentives<\/li>\n<li>Gather\u00a0information\u00a0on\u00a0form\u00a0of\u00a0incentive\u00a0(cash,\u00a0tax\u00a0credit,\u00a0services, etc.),\u00a0eligibility,\u00a0timing,\u00a0 process\u00a0to\u00a0apply\/how\u00a0to\u00a0access<\/li>\n<li>Research\u00a0and\u00a0write\u00a0case\u00a0studies\u00a0of\u00a0Yakima\u00a0companies\u00a0who\u00a0have\u00a0utilized\u00a0incentives<\/li>\n<\/ul>\n<\/li>\n<li>Research\u00a0what\u00a0Yakima\u00a0competitors\u00a0offer\u00a0for\u00a0incentives<\/li>\n<li>Research\u00a0what\u00a0we\u00a0can\u00a0change\u00a0internally,\u00a0by\u00a0public\u00a0vote\u00a0and\u00a0what\u00a0may\u00a0not\u00a0be\u00a0allowed\u00a0by\u00a0law\n<ul>\n<li>Determine\u00a0what\u00a0adjustment\u00a0could\u00a0be\u00a0made\u00a0to\u00a0enhance\u00a0incentive\u00a0for\u00a0local\u00a0employers. This may require\u00a0legislation\u00a0for\u00a0tweak.<\/li>\n<\/ul>\n<\/li>\n<li>Review\u00a0lost\u00a0projects\u00a0as\u00a0to\u00a0Yakima\u2019s\u00a0weaknesses\u00a0to\u00a0determine\u00a0if\u00a0new\u00a0incentive\u00a0offerings\u00a0might impact\u00a0positively<\/li>\n<li>Research\u00a0gaps\u00a0where\u00a0Yakima\u00a0falls\u00a0behind\u00a0or\u00a0has\u00a0higher\u00a0development\u00a0and\u00a0operational\u00a0costs\u00a0than competitors<\/li>\n<li>Package\u00a0City\u00a0permitting\u00a0services\u00a0as\u00a0incentive\u00a0service\u00a0offering\u00a0(i.e.\u00a0timing,\u00a0payment\u00a0deferrals, ombudsman)\n<ul>\n<li>Investigate\u00a0guarantees\u00a0for\u00a0turnaround\u00a0with\u00a0complete\u00a0permit\u00a0submitted<\/li>\n<li>Research\u00a0and\u00a0write\u00a0case\u00a0studies\u00a0for\u00a0recent\u00a0Yakima\u00a0developments\u00a0with\u00a0successful\u00a0permitting\u00a0 experience<\/li>\n<\/ul>\n<\/li>\n<li>Package\u00a0Business\u2010to\u2010Business\u00a0(B\u20102\u2010B)\u00a0coupons,\u00a0deals\u00a0and\u00a0other\u00a0offerings\u00a0for\u00a0new\u00a0business locating\u00a0in\u00a0Yakima<\/li>\n<li>Design\u00a0other\u00a0incentive\u00a0offering(s)\u00a0as\u00a0allowed\u00a0by\u00a0law<\/li>\n<li>Develop\u00a0and\u00a0adopt\u00a0incentive\u00a0policy\u00a0to\u00a0define\u00a0criteria\u00a0for\u00a0projects\u00a0that\u00a0align\u00a0to\u00a0Yakima\u2019s\u00a0goals<\/li>\n<li>Monitor\u00a0results\u00a0of\u00a0incentives\u00a0to\u00a0see\u00a0if\u00a0they\u00a0make\u00a0an\u00a0impact\u00a0toward\u00a0goals;\u00a0utilize\u00a0economic\u00a0and fiscal\u00a0impact\u00a0analysis\u00a0for\u00a0award\u2010worthy\u00a0projects\u00a0and\u00a0defendable\u00a0scrutiny<\/li>\n<li>Promote\u00a0incentives\u00a0to\u00a0local\u00a0employers\u00a0to\u00a0raise\u00a0awareness\u00a0and\u00a0help\u00a0businesses\u00a0fully\u00a0utilize\n<ul>\n<li>Develop\u00a0communications\u00a0and\u00a0outreach\u00a0plan<\/li>\n<li>Implement\u00a0communications\u00a0and\u00a0outreach\u00a0plan<\/li>\n<li>Post\u00a0information\u00a0on\u00a0City,\u00a0YCDA\u00a0and\u00a0other\u00a0Core\u00a0Working\u00a0Group\u00a0organizations\u2019\u00a0websites respectively<\/li>\n<li>Match\u00a0incentives\u00a0to\u00a0business\u00a0needs\u00a0and\u00a0situation\u00a0during\u00a0Business\u00a0Retention\u00a0&amp;\u00a0Expansion visits<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>Core Working Group &#8211; Incentives<\/h2>\n<table class=\"table table-striped table-bordered\">\n<tbody>\n<tr>\n<th scope=\"row\">Lead<\/th>\n<td>Yakima\u00a0County\u00a0Development Association &amp;\u00a0City\u00a0of\u00a0Yakima\u00a0\u2013\u00a0Economic Development\u00a0Department<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Team<\/th>\n<td>City\u00a0of\u00a0Yakima\u00a0\u2013\u00a0City\u00a0Attorney,\u00a0Planning\u00a0Department<br \/>\nGreater\u00a0Yakima\u00a0Chamber\u00a0of\u00a0Commerce<br \/>\nHispanic\u00a0Chamber\u00a0of\u00a0Commerce\u00a0of\u00a0Yakima<br \/>\nRural\u00a0Community\u00a0Development\u00a0Resources<br \/>\nSupporting\u00a0Investments\u00a0in\u00a0Economic\u00a0Development\u00a0(SIED)<br \/>\nUtilities<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Resources<\/th>\n<td>Washington\u00a0State\u00a0Department\u00a0of\u00a0Commerce<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Progress No updates at this time. Goal Responsibly\u00a0offer\u00a0and\u00a0promote\u00a0a\u00a0diverse\u00a0portfolio\u00a0of\u00a0competitive\u00a0incentives\u00a0that\u00a0influence\u00a0business investment\u00a0in\u00a0favor\u00a0of\u00a0a\u00a0Yakima\u00a0location. Why Important? Incentives\u00a0alone\u00a0do\u00a0not\u00a0justify\u00a0a\u00a0business\u00a0location\u00a0decision.\u00a0However,\u00a0communities\u00a0that\u00a0provide incentives\u00a0demonstrate\u00a0they\u00a0are\u00a0business\u00a0friendly,\u00a0and\u00a0if\u00a0used\u00a0wisely\u00a0can\u00a0be\u00a0effective\u00a0tools\u00a0for\u00a0tipping the\u00a0scales\u00a0in\u00a0favor\u00a0of\u00a0the\u00a0community\u00a0when\u00a0all\u00a0things\u00a0are\u00a0equal\u00a0or\u00a0making\u00a0up\u00a0the\u00a0difference\u00a0when\u00a0a community\u00a0lags\u00a0competitively.\u00a0Incentives\u00a0are\u00a0also\u00a0valuable\u00a0in\u00a0\u201cshowing\u00a0the\u00a0love\u201d\u00a0to\u00a0expanding\u00a0local businesses\u00a0so\u00a0that\u00a0they\u00a0choose\u00a0to\u00a0expand\u00a0locally\u00a0instead\u00a0of\u00a0expanding\u00a0or\u00a0relocating\u00a0elsewhere. Tactics &#8211; Incentives Gather\u00a0information\u00a0on\u00a0current\u00a0toolbox\u00a0of\u00a0available\u00a0incentives\u00a0for\u00a0Yakima\u00a0businesses\u00a0(federal, state,\u00a0city,\u00a0SIED,\u00a0RCDR,\u00a0utilities,\u00a0WorkSource,\u00a0etc.) Develop\u00a0template\u00a0to\u00a0gather\u00a0consistent\u00a0and\u00a0comprehensive\u00a0information\u00a0on\u00a0incentives Gather\u00a0information\u00a0on\u00a0form\u00a0of\u00a0incentive\u00a0(cash,\u00a0tax\u00a0credit,\u00a0services, etc.),\u00a0eligibility,\u00a0timing,\u00a0 process\u00a0to\u00a0apply\/how\u00a0to\u00a0access Research\u00a0and\u00a0write\u00a0case\u00a0studies\u00a0of\u00a0Yakima\u00a0companies\u00a0who\u00a0have\u00a0utilized\u00a0incentives Research\u00a0what\u00a0Yakima\u00a0competitors\u00a0offer\u00a0for\u00a0incentives Research\u00a0what\u00a0we\u00a0can\u00a0change\u00a0internally,\u00a0by\u00a0public\u00a0vote\u00a0and\u00a0what\u00a0may\u00a0not\u00a0be\u00a0allowed\u00a0by\u00a0law Determine\u00a0what\u00a0adjustment\u00a0could\u00a0be\u00a0made\u00a0to\u00a0enhance\u00a0incentive\u00a0for\u00a0local\u00a0employers. This may require\u00a0legislation\u00a0for\u00a0tweak. Review\u00a0lost\u00a0projects\u00a0as\u00a0to\u00a0Yakima\u2019s\u00a0weaknesses\u00a0to\u00a0determine\u00a0if\u00a0new\u00a0incentive\u00a0offerings\u00a0might impact\u00a0positively Research\u00a0gaps\u00a0where\u00a0Yakima\u00a0falls\u00a0behind\u00a0or\u00a0has\u00a0higher\u00a0development\u00a0and\u00a0operational\u00a0costs\u00a0than competitors Package\u00a0City\u00a0permitting\u00a0services\u00a0as\u00a0incentive\u00a0service\u00a0offering\u00a0(i.e.\u00a0timing,\u00a0payment\u00a0deferrals, ombudsman) Investigate\u00a0guarantees\u00a0for\u00a0turnaround\u00a0with\u00a0complete\u00a0permit\u00a0submitted Research\u00a0and\u00a0write\u00a0case\u00a0studies\u00a0for\u00a0recent\u00a0Yakima\u00a0developments\u00a0with\u00a0successful\u00a0permitting\u00a0 experience Package\u00a0Business\u2010to\u2010Business\u00a0(B\u20102\u2010B)\u00a0coupons,\u00a0deals\u00a0and\u00a0other\u00a0offerings\u00a0for\u00a0new\u00a0business locating\u00a0in\u00a0Yakima Design\u00a0other\u00a0incentive\u00a0offering(s)\u00a0as\u00a0allowed\u00a0by\u00a0law Develop\u00a0and\u00a0adopt\u00a0incentive\u00a0policy\u00a0to\u00a0define\u00a0criteria\u00a0for\u00a0projects\u00a0that\u00a0align\u00a0to\u00a0Yakima\u2019s\u00a0goals Monitor\u00a0results\u00a0of\u00a0incentives\u00a0to\u00a0see\u00a0if\u00a0they\u00a0make\u00a0an\u00a0impact\u00a0toward\u00a0goals;\u00a0utilize\u00a0economic\u00a0and fiscal\u00a0impact\u00a0analysis\u00a0for\u00a0award\u2010worthy\u00a0projects\u00a0and\u00a0defendable\u00a0scrutiny Promote\u00a0incentives\u00a0to\u00a0local\u00a0employers\u00a0to\u00a0raise\u00a0awareness\u00a0and\u00a0help\u00a0businesses\u00a0fully\u00a0utilize Develop\u00a0communications\u00a0and\u00a0outreach\u00a0plan Implement\u00a0communications\u00a0and\u00a0outreach\u00a0plan Post\u00a0information\u00a0on\u00a0City,\u00a0YCDA\u00a0and\u00a0other\u00a0Core\u00a0Working\u00a0Group\u00a0organizations\u2019\u00a0websites respectively Match\u00a0incentives\u00a0to\u00a0business\u00a0needs\u00a0and\u00a0situation\u00a0during\u00a0Business\u00a0Retention\u00a0&amp;\u00a0Expansion visits Core<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-156","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.yakimawa.gov\/services\/economic-development\/wp-json\/wp\/v2\/pages\/156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yakimawa.gov\/services\/economic-development\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.yakimawa.gov\/services\/economic-development\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.yakimawa.gov\/services\/economic-development\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yakimawa.gov\/services\/economic-development\/wp-json\/wp\/v2\/comments?post=156"}],"version-history":[{"count":3,"href":"https:\/\/www.yakimawa.gov\/services\/economic-development\/wp-json\/wp\/v2\/pages\/156\/revisions"}],"predecessor-version":[{"id":200,"href":"https:\/\/www.yakimawa.gov\/services\/economic-development\/wp-json\/wp\/v2\/pages\/156\/revisions\/200"}],"wp:attachment":[{"href":"https:\/\/www.yakimawa.gov\/services\/economic-development\/wp-json\/wp\/v2\/media?parent=156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}