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ECONOMIC DEVELOPMENT NEWSLETTER
Quarter 2, 2024
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Tracy Makes Organizational Changes to
Better Serve Business Community
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New Community and Economic Development Department
The City of Tracy recently created its new Community and Economic Development Department (CED), which is dedicated to more effectively serving Tracy's business community. CED unites Economic Development, Planning, and Building Safety in an effort to be a one-stop shop for Tracy's local businesses. Visit the City of Tracy website to learn more about these services.
Tracy aims to build a community where everyone can thrive, and continues to work on streamlining the process for businesses looking to invest in Tracy.
So far, in 2024, CED has approved 36 projects and received 26 new applications. These applications are for various-scale projects, including sign permits for annexation and greenfield development. There are 125 pending applications under review, including over 6 million square feet of industrial and commercial space and 4,077 residential units.
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Economic Development Division Creates
Real Property Unit
In the continued effort to support the Tracy business community and achieve Tracy City Council's strategic priorities, the Economic Division created a new business unit, Real Property. Real Property supports acquiring, disposing of, and leasing city-owned real property. The unit encourages investment in catalytic opportunity areas by identifying and optimizing underperforming, underdeveloped and underutilized properties that need development, redevelopment, and asset maximization.
Tracy is taking bold strides in property management to align with our council's strategic priorities for FY 2024-2025 with the creation of the unit. This move underscores Tracy’s dedication to efficient resource utilization and strategic asset management.
To learn more about the Real Property Unit, visit Tracy's Economic Development website.
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Tracy Embarks on Strategic Efforts to
Further Economic Development
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Economic Development Strategic Plan
Tracy's Economic Development Strategic Plan (EDSP) provides the City with a strategic framework and roadmap to enhance economic development and community resiliency.
The EDSP aligns with established Economic Development Administration (EDA) guidance, which frames economic development and resiliency as a set of factors that speak to a region's capacity to recover quickly from a shock, withstand a shock, or avoid a shock altogether, with a specific focus on regional susceptibility. The three distinct sets of forces are global factors, structural changes and economic consequences of natural disasters.
Intended to support the City of Tracy, the EDSP will help focus implementation efforts on strategic economic development priorities by leveraging data-driven decision-making supported by stakeholder consensus.
To read the strategic plan, visit the City's Economic Development website.
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Tourism and Commercial Development
Tourism is one of Tracy's strategic priorities, especially recreational tourism. The two latest hotels under construction support this initiative, providing economic benefits such as increased tax generation and the creation of jobs. The La Quinta Inn & Suites, a 48,845-square-foot hotel on 1.91 acres, will offer 87 rooms. The TownePlace Suites by Marriott, a 58,800-square-foot hotel on 2.69 acres, will offer 108 rooms and an outdoor pool.
The new BJ’s Restaurant is under construction and scheduled to open in September 2024. It will be a new commercial amenity offering the community more dining options while also increasing the City’s tax base and creating new jobs.
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Business Resources and News | |
There are many ways to boost your business! Explore the options and resources to get the support you need for your small business journey while staying updated on the latest economic development news. | |
Employee Retention Tax Credit
The Employee Retention Credit (ERC), or Employee Retention Tax Credit (ERTC), is a refundable tax credit for certain eligible businesses and tax-exempt organizations that had employees and were affected during the COVID-19 pandemic.
The ERC gives eligible employers payroll tax credits for wages and health insurance paid to employees after March 12, 2020, and before January 1, 2022. Employers have the opportunity to claim the ERC for up to three years retroactively: April 15, 2025, if filing for 2021.
Eligibility and credit amount vary depending on when the business impacts occurred. The ERC is not available to individuals.
For more information, interest in applying or questions, contact the Economic Development Division at EconDev@CityOfTracy.org or (209) 831-6490.
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San Joaquin County is embarking on the creation of a five-year Comprehensive Economic Development Strategy (CEDS), and we need YOUR input to ensure it reflects the values and priorities of our community.
Our county has faced numerous economic challenges in recent years, affecting jobs, businesses, health, housing, and overall economic stability.
This strategy will guide critical investment decisions in infrastructure, public works, industrial and commercial site development, and job-creating initiatives to build a sustainable economic future for all.
Get involved and share your input through our online survey. Your feedback is confidential and crucial for developing a plan that meets our community’s needs. The survey will be open until July 31, 2024.
For more information, visit the project webpage or contact Nicole Snyder at EDA@sjcworknet.org, or (209) 468-3615.
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SJC Board of Supervisors Supports Local Small Businesses by Funding Retail Theft Initiative
The San Joaquin County Board of Supervisors authorized fund transfers to support local businesses fight retail theft and assist local shoppers. The Board reallocated $1.3 million from the Employment and Economic Development Department's (EEDD) Small Business Assistance Grant Programs (SBAG) to fund the Greater Stockton Chamber of Commerce's Stockton Takes Action Against Retail Theft Program (STAART) and a security camera grant program. The grant is part of the American Rescue Plan Act (ARPA) and must be used to respond to the negative impacts of the public health emergency (COVID-19) including aid to impacted industries.
The Greater Stockton Chamber of Commerce will also administer a Security Camera Grant program for local businesses with the proposed one-time funding allocation of $500,000. The STAART will provide San Joaquin County small business owners one-time grants to install a camera system in their places of business. Grants will be administered by the Chamber and be available to businesses countywide on a first-come, first-served basis until funds are exhausted. The maximum grant per property is $2,000.
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Click on the images to learn more. | | |
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Shop San Joaquin
Spread the word about “Shop San Joaquin: A Rewards Program for SJC Shoppers”(Shop San Joaquin) to promote support of your business, your fellow community and local businesses!
Shop San Joaquin which will be powered by BluDot on its Open Rewards platform. The rewards program will start with an attractive 100% reward rate and a maximum reward cap of $50 per transaction. Consumers can earn rewards up to $200 per calendar year, subject to the availability of program funds. Eligible businesses include those that have less than 500 employees, are not chain establishments, and were established as of January 1, 2020. The identified eligible businesses have no requirements, no need to sign up, train staff, or adjust their daily business routine.
Chances are your business is already included in the program, but if not follow these online steps to add your business or access more promotional features. For FAQs, visit the dedicated webpage.
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The SBDC provides virtual and in-person trainings and workshops designed for business development on various key topics! Don't miss these free trainings!
Access the full list of upcoming trainings on the San Joaquin SBDC website.
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Interested in joining the City of Tracy team and working inside the triangle?
Visit www.CityofTracyJobs.com to learn more about current job opportunities.
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Tracy Chamber of Commerce | |
We invite you to explore Tracy, one of the friendliest cities in California. Tracy is a place to kick off your shoes, hang your hat, sit back, and relax. Tracy offers a vibrant arts and entertainment scene. The City of Tracy hosts numerous festivals and community events throughout the year, as well as live theatre, art shows and music concerts. We are an enthusiastic supporter of the arts. From Tracy it is an easy drive to recreation hot-spots like the Bay Delta, Yosemite, Tahoe and the San Francisco Bay. | |
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Ask How Tracy Can Help Today
Demand for industrial, retail, and office space in many business segments will continue to increase in Tracy, and the City is committed to a strong, growing business climate. Whether an existing building space or new construction on available land is in your future, the City of Tracy understands these opportunities and partners with the business community to enable success. A wide range of business-friendly incentives can be found in the City’s Office and Industrial Incentive Program, and are available to companies choosing to locate in Tracy. Learn how you can start or grow your business in Tracy today!
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City of Tracy
333 Civic Center Plaza,
Tracy, CA 95376
www.cityoftracy.org
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