Yakima County Development Association - Incentives for growing companies in Yakima County

Business Incentives

New Vision works closely with both existing and new companies to ensure firms are best able to take full advantage of tax incentives and other similar programs that can save businesses time or money. Companies expanding in Yakima County can tap into a variety of tax, financing, and employee training incentives:

                                                     

 

Sales Tax Exemptions on New Construction, Machinery & Equipment

Manufacturers (plus companies specializing in conditioning of vegetable seeds, commercial testing laboratories, and research and development firms) qualify for sales tax credits on building construction or renovation costs. This incentive program includes tax deferrals on the planning and construction of the project. This exemption also applies to purchases of qualifying machinery and equipment used in manufacturing, research and development, or computer-related businesses. This exemption program includes equipment installation, equipment replacement parts with a life of over one year, and maintenance and repair labor. 
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B & O Tax Reductions

Businesses locating in Yakima County are eligible for a credit against the state business and occupation (B&O) tax. Manufacturing, computer services, and research and development firms can claim a $2000 per employee B&O tax credit when wages and benefits are less than $40,000, or $4000 per employee when wages and benefits exceed $40,000 per year.

Food processors also receive an exemption on B&O taxes for products sold outside the state.
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 Employment Training

The Washington State Jobs Skills Program provides matching grants for customized job training. The program is tailored to meet the needs of new or expanding employers. The program requires a 50 percent matching investment from the company, but this match can include in-kind contributions (ex. use of facilities or equipment, training instruction, etc). The Workforce Development Council (WDC) can also subsidize on-the-job or customized training for new companies. The WDC works closely with local vocational schools and community colleges to design and fund training that meets an expanding employer’s needs.
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Site Development Assistance

An expanding company in Yakima County can benefit from a state-financed infrastructure fund which can lower the cost of providing access roads, rail lines, sewer and water extension, or other public works needed for industrial development. Yakima County also offers funds through its SIED (Supporting Investments in Economic Development) program that can be used to offset or reduce costs of a non-retail development project. Job creation and capital investment are crucial criteria needed to trigger access to state and local infrastructure financing programs. For issuing process and application call (509) 575-1140.
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Fast Track Permitting

Yakima County and its municipalities are committed to reduce roadblocks and paperwork that stand in the way of private investment projects. Permits and licenses can generally be approved within 30-60 days from the time a company submits completed applications. Expect excellent customer service, and look to the Yakima Valley if you want a project to unfold on your terms and time lines.
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Industrial Revenue Bonds

Local public corporations may issue tax-exempt Industrial Revenue Bonds (IRB) on behalf of private companies. Because interest payments to IRB buyers are not subject to federal income tax, bonds can subsequently be sold at lower interest rates. This may greatly reduce project cost. Expenses that are eligible for IRB financing include: property acquisition, machinery and equipment, design, consulting, legal, and accounting services, and financing costs. For issuing process and application call (509) 575-1140.
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"We're impressed with the work ethic that we find here in Yakima County. " - Jesse Rodriguez, HR Manager, Can Am Steel Sunnyside