Category: Local Incentives
Tracy is committed to a strong, growing business climate. Businesses locating in Tracy will enjoy working in an economic environment with knowledgeable professionals readily available to make the development and permitting processes seamless. A wide range of business-friendly services and financial incentives are available to companies choosing to locate here.
This program aims to attract new businesses and create jobs in Tracy by providing sales tax rebates or direct financial assistance incentives, Building & Planning fee rebates, and High Wage incentives to qualifying developer-owners, prospective tenants, or tenant representatives looking to locate in Tracy’s office & industrial areas. The prospective company must:
- Generate $100 million or more in gross annual sales
- Generate sales tax to the City corresponding to the gross sales
- Provide a minimum of 1,000 FTE jobs Program incentives may include:
- Sales Tax Rebate or Direct Financial Assistance
- Building & Planning Rebates (75%, up to $20,000; Planning Division permits maximum rebate $10,000)
- High Wage Incentive ($1,000 per eligible employee/per year, up to 5 years)
- New Companies must create or relocate a minimum of 250 jobs with at least 50% of their workforce at “Head of Household” wage level
- Existing companies must have expanded their workforce by a minimum of 25% with new “Head of Household” jobs
Disclamier: All financial incentive agreements and performance contracts must be approved by the Tracy City Council and are available on a first-come, first-served basis until all designated funds have been exhausted.