Opportunity Zones are a federal economic development tool aiming to improve the outcomes of distressed communities around the country. They offer tax incentives to groups who invest and hold their capital gains in Zone assets or property for at least 5 years, and a permanent exclusion from a tax on capital gains from the Opportunity Zones investments for investments held for 10 years. Central California has 157 designated Census Tracts included. Map
The iHub program improves the state's national and global competitiveness by stimulating partnerships, economic development, and job creation around specific research clusters through state-designated iHubs. In Central California, Fresno and Stockton have an iHub.
The federal government has designated sections of several California communities as Renewal Communities, Empowerment Zones and Enterprise Communities (RC, EZs and ECs). Within Central California, the cities of Fresno, Orange Cove, and Parlier are designated.
Central California's Foreign Trade Zones (FTZ) are located in Merced/Madera/Fresno/Tulare counties, Kern, County, Stockton. FTZs are secured areas legally outside of U.S. customs territory usually located in or near customs points of entry. FTZs allow entry of foreign or domestic merchandise without formal customs entry or government excise taxes.
Recycling Market Development Zone (RMDZ)
The RMDZ program combines recycling with economic development to provide attractive loans, technical assistance, and free product marketing to businesses that use materials from the waste stream to manufacture their products and are located in a zone. In Central California, the zones are located in Kern, Tulare, Fresno, Madera, Merced, Stanislaus and San Joaquin counties.