Richmond has a ready workforce, acres of space to locate and expand, great transportation connections, a growing economy – and a proactive Office of Economic Development that’s ready and able to provide businesses low-cost loans for working capital, tax incentives, relocation assistance and favorable contracting opportunities.
Richmond’s Office of Economic Development (OED) helps business owners relocate existing operations, works with entrepreneurs and investors to locate businesses for sale, and facilitates business-to-business transactions.
Businesses Choosing Richmond
Businesses continue to recognize Richmond as the best choice to locate and expand. Below is a small sample of nationally recognized businesses that call Richmond home.
Amazon Blue Apron Hello Fresh Mountain Hardware Restoration Hardware Sun Power UPS Whole Foods William Sonoma
Interested in current development initiatives and opportunities Richmond? The City of Richmond offers resources and staff that are currently engaging a variety of development opportunities. Please visit our Development Services webpage to find out more information.
San Francisco Business Times: Richmond Supplement
The San Francisco Business Times has published a supplemental issue featuring Richmond. This issue highlights the assets and amenities that make Richmond one of the best options for business in Bay Area, and profiles a variety of companies that call Richmond home. Please follow the link to read and share this wonderful profile of Richmond:
Please reference the list of resources below to see the variety of resources Richmond can offer new or growing businesses of all sizes. We are here to help you - please do not hesitate to contact us with questions and inquiries.
Business & Economic Development Assistance
For more information on these programs and other business services, contact:
Economic Development Administrator
City Manager’s Office
450 Civic Center Plaza, Third Floor
Richmond, CA 94804
Revolving Loan Fund
Richmond’s Revolving Loan Fund (RLF) offers four loan options, from $5,000-$100,000, for the development of new businesses and the expansion of existing business:
Working capital – for the costs of business operations
Machinery/equipment – to acquire machinery and equipment
Fixed assets – for leasehold improvements, renovation, expansion of a structure, or purchase of fixed assets
Richmond enables businesses to save thousands – even millions – of dollars through a variety of tax credits and cost reductions. to learn more about credits and incentives and see if your business is eligible, visit our Tax Credits and Hiring Incentives webpage.
Businesses hiring a resident from a State-recognized Targeted Employment Area (TEA) can immediately qualify for the hiring tax credit.
As a designated U.S. Small Business Administration HUB Zone, Richmond helps certified small businesses gain preferential access to federal procurement opportunities, including competitive and sole-source contracting, and a 10% price evaluation preference.
California Economic Development Initiative
Through the state’s GO-Biz program, businesses can compete for available tax credits based on the number of jobs created or retained, the extent of poverty in a business development area and minimum compensation limits. Visit www.business.ca.gov.
Richmond helps stimulate and attract new investment and reduce the cost of starting and operating a business by providing access to technical assistance such as counseling, workshops, classes, business plans, marketing, credit repair, legal consulting, financing, employee recruitment, tax credit information, façade improvement, and website design. Most of these services are provided at no or reduced cost to business owners.
Employer Services are available to assist businesses with customized employment services, from recruiting to tax incentives; outplacement services and resources; on-the-job training; and labor market information. For more information, call 510-307-8024. ?
Additional Business Resources
The Richmond Chamber of Commerce helps to foster growth in Richmond and West Contra Costa. Contact the Chamber at 510-234-3512 or visit www.rcoc.com.
The East Bay Economic Development Alliance (East Bay EDA) is helping to establish the East Bay as a preferred location to grow businesses, attract capital and create quality jobs. Visit www.eastbayeda.org.
The West Contra Costa Business Development Center provides entrepreneurs with individualized services, from business consulting and entrepreneurial training to securing financing. Visit www.wccbdc.org.
The Contra Costa Small Business Development Center (SBDC) conducts research, counsels and trains business people in a wide variety of business topics and provides comprehensive information services and access to experts in a variety of fields free of charge. Visit www.contracostasbdc.org for more information.
The Richmond Workforce Investment Board (WIB) promotes creative solutions to meet the needs of job seekers and employers. Contact Sal Vaca at firstname.lastname@example.org or 510-307-8023.