• The California Infrastructure and Economic Development Bank (IBank) – offers a suite of low-cost infrastructure financing options to political subdivisions interested in building structures to accommodate onshoring suppliers and technology companies.
  • California Governor’s Office of Business & Economic Development (Go-Biz) –  offers income tax credits, sales tax exemptions, R&D tax credits and utility discounts to onshoring suppliers and technology companies.
  • The California Competes Grant – makes available $120 million ($36 million max available to potential awardee) to private companies that create jobs and are willing to invest in California’s less affluent inland regions.
  • Federal Grants and Incentives
  • CHIPS and Science of 2022 (Federal Agency: DOC) – The US government has authorized an initial $39 billion to incentivize expansion and manufacturing capacity for semiconductors and strengthen supply chain resilience.
    Critical Date: guidance for smaller companies will be released Fall of 2023
  • Regional Tech Hubs Grant (Federal Agency: EDA) – An initiative designed to drive regional innovation, commercialization and deployment of critical technologies to achieve global competitiveness.  Authorized $10 billion over five years with $500 million of initial funding for FY 2023.
    Milestone achieved: Phase 1 application complete
    Critical Date: Phase 2 guidance to be released Fall of 2023
    Phase 2 award amount: $50-75 million
  • Public Works and Economic Adjustment Assistance Programs AKA PWEAA (Federal Agency: EDA) – Aimed at assisting communities to promote long-term economic development and job creation through investments in incubators and technology parks.
    Critical Date: ongoing applications being accepted
    Anticipated FY 2023 award amount: $1 million to $7.5 million