In coordination with the Arizona Commerce Authority (ACA), Greater Yuma Economic Development Corporation (GYEDC) and 4FrontED, new or existing companies can take advantage of lucrative training grants, tax credits and reductions in the corporate taxes, and development assistance to start-ups. These incentives are applicable to the Yuma region and are offered as incentive packages for almost any industry sector.
At the State level, the Arizona Commerce Authority (ACA) is comprised of a team of expert business professionals knowledgeable in streamlining processes and navigating channels for faster results. 4FrontED as the regional and binational leader in southwest Arizona and in coordination with private/public agencies in northwest Mexico and Imperial County in California, shares ACA’s mission and incentive programs.
In addition, cities within the binational region offer local incentives to assist new companies or existing companies planning to expand their existing operation:
City of Yuma. 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 $500 per new hire, given to the company in an upfront cash grant award. For a link to the policy, CLICK HERE.
City of San Luis. The City of San Luis Incentive Policy offers many opportunities for investment. The City is currently in the process of adopting a policy and will be available soon. For a copy of the policy, CLICK HERE.
City of Somerton. The City of Somerton offers electronic and expedited plan reviews and with City Council approval, a reduction of permit fees or plan check fees.
Town of Wellton. The Town of Wellton offers lower permit, impact, and land development fees. No property taxes and the electric power rates is lower than other cities in Yuma County.
Yuma County. Yuma County utilizes two tools to promote regional economic development. The first tool is the Yuma County Economic Development Incentive Policy which lays the foundation for incentives based on improvements to county infrastructure and jobs-based incentives. The second tool is the Yuma County Virtual Building Policy which allows developers to pre-design a building that meets general business needs, have the design reviewed and approved by the County, have the review fees deferred until building occupation, and market the property as though an actual building exists on the property.
San Luis Rio Colorado, Sonora, Mexico. This information is being developed in conjunction with COPRESAN and will be published when completed.
Opportunity Zones: The Federal Tax Legislation passed by Congress provides incentives to investors that may take advantage of tax breaks when they invest in communities in need of re-investment. Based on existing conditions and infrastructure in place, nine (9) Census Tracks were selected in the Yuma County area. This is now one of the new upcoming Yuma Region economic development incentives.