City of Long Beach Business Brief
February 4, 2022
Welcome to the Economic Development Department's Business Brief! We are continuing to ensure you are updated on the latest business resources and news.
Utility Pandemic Relief Program and Payment Delinquency Moratorium Extended to No Earlier than June 30, 2022
In a previous memorandum dated August 9, 2021, staff of the Energy Resources, Water, Public Works, and Financial Management Departments detailed efforts undertaken to provide relief to utility customers impacted by the COVID-19 pandemic. Since March 2020, the City of Long Beach (City) suspended charging late fees to all utility customers; suspended terminations (shut-offs) of utilities for non-payment; and suspended collection efforts for amounts in arrears. These moratoriums continue to date and were anticipated to terminate January 31, 2022. However, recent State action requires extension of these moratoriums to no earlier than June 30, 2022. 
Governor’s FY 2022-23 Budget Plan Includes Additional Investments in Economic Development, Job Training, and Infrastructure
On January 10, Governor Gavin Newsom released his proposed FY 2022-23 Budget projecting a $47.5 billion surplus, with a continued focus on combating climate change, expanding assistance to disadvantaged residents, and promoting economic recovery. Investments include tax relief for business, augmentations to economic development programs, tax credits focused on green technologies, and funding for workforce training, immigrant assistance, infrastructure, and affordable housing. A few of many of the proposed expenditures can be found below:

  • Tax Relief: Removes the temporary cap imposed in the 2020 Budget on net operating losses and research and development credits. The removal of this cap is estimated to save businesses $5.5 billion in 2022-23.
  • COVID Relief Grants: Allocates $150 million for additional small business COVID relief grants, of which $20 million will be reserved to assist non-profits.
  • Retail Theft Relief: Allocates $20 million to GO-Biz to assist businesses damaged by retail theft.
  • Small Business Development Centers: Proposes $3 million in annual funding for Small Business Development Centers (SBDCs) beginning in FY 2023-24 for the continuation of the Capital Infusion program which assists small businesses to access capital. 
  • Pre-Development of Green Energy Technologies: Offers $100 million ($300 million total) over three years for pre-development costs of new technologies such as: electric vehicle manufacturing and infrastructure, geothermal, lithium extraction, battery manufacturing, long-duration storage, methane emissions, hydrogen technologies, and methods to reduce the use of natural gas. 
  • UC Regional Workforce Hubs: Allocates $35 million to the University of California for regional workforce development and training hubs focused on climate change. Another $50 million is designated for UC regional incubators.
LongBeachBuys
The City of Long Beach will launch a new procurement platform, Long Beach Buys, in mid-2022! We are excited about the new possibilities and hope you will join us on our new platform.

Starting on February 16, 2022, registration on Long Beach Buys will be open to all vendors. Once the new platform goes live, all vendors must have registered through Long Beach Buys to access and participate in opportunities, even if you already created a profile in the past. Registration and use of Long Beach Buys is free to all vendors.

Note that the City of Long Beach will continue to post opportunities and receive proposals in our current system until the new platform is fully live in mid-2022. For regular updates navigate to https://www.longbeach.gov/purchasing!
The City of Long Beach is committed to advancing solutions to civic challenges by engaging the community, staff, and private sector to explore and implement emerging technology and innovative approaches to City service delivery. Our vision for a smarter Long Beach is not one that we can achieve alone, and we encourage collaboration and partnerships to design, test, and implement solutions through the Pitch Long Beach program!

Pitch Long Beach! allows vendors to pitch an idea for a project to the City. The ideas that offer promising solutions to legitimate City needs will be shared with our subject matter experts, evaluated with transparent criteria, and then may be implemented as pilot projects.

Companies and entities of all sizes may pitch an idea. Vendors may pitch an idea at any point in time electronically by completing the Pitch Long Beach! Idea Form. The City will accept proposals on an ongoing basis. Additional information about the City’s financial cycle and budget may be found here.

The City will accept pitches on an ongoing basis.
Long Beach Accelerator Summer 2022 Cohort Now Accepting Applications
The Long Beach Accelerator is thrilled to open the application period for their Summer 2022 Cohort expected to start in June 2022.

The Long Beach Accelerator has graduated 12 cohort companies, 25% of which have received acquisition offers, and collectively raised over $4.5M in capital and earned over $1M in revenue since February 2021.

Startups accepted to the program will receive the resources and runway needed to flourish, including:
  • $75,000 to $100,000+ in capital funding in exchange for 7% equity.
  • Access to prime working space in Downtown Long Beach.
  • A specialized four month program where each month the startups will work on a specific component of the business with expert instructors, mentors and other resources.
  • Digital resource package worth approximately $500,000 and include services such as Amazon Web Services, Airtable, Stripe, Zoom, and many more.

Application Deadline: February 18th, 2022
Small Business Accelerator
NEXT Long Beach Small Business Accelerator powered by OmniWorks is helping women and BIPOC entrepreneurs grow their business.

The FREE program includes personalized mentorship, mastermind sessions for peer idea exchange and accountability, expert workshops, and online networking events with other entrepreneurs in our community.
 
Building your business is challenging – but you don’t have to do it alone.
 
Click here to register today!
Contact the City of Long Beach BizCare Hotline for Immediate Assistance:

Phone number: 562-570-4BIZ (4249)
Days: Monday - Friday
Hours: 8:00 a.m. to 5 p.m.

City staff will respond to voicemails made after business hours within 24 hours.