Depending where you’re located local utilities may provide money-saving services of great benefit. An example is Southern California Edison (SCE – http://www.sce.com/b-ebd/economic-development.htm). This web site displays SCE’s coverage area and provides details of SCE’s many business assistance services.
California is a notoriously expensive place to operate a business. For nearly twenty years SCE has invested heavily in economic development programs to retain and expand wealth creating businesses in its service delivery area.
I’ve partnered with SCE on many projects, often saving companies up to $100,000 or more. These savings go directly to the business’ bottom line and may be recurring. Energy programs are offered with California’s Public Utilities Commission consent and some come and go. Contact SCE’s business assistance unit via the link above. Establish a relationship with a SCE business development rep. But first, do an internal audit of your company’s specific plans. If you are relocating, contact SCE before doing modifications of the new site.
Economic development programs often provide one-time incentives that are okay, but should not be the determining factor where to locate a business. What you need to look for is long-term benefit of relocating or staying where you are. Energy cost reduction is only one area of financial planning.
Over the years I’ve become an expert on business assistance programs, having personally interviewed more than 7,000 companies in the Los Angeles 5-County region. With a background working in many industries I understand business needs and am always surprised how little some owners and managers actually know about running a business.
Do your homework, tap into regional programs offered at low or no cost. You will be surprised at what is on the table for your benefit, such as California’s Employment Training Panel (ETP – http://www.etp.ca.gov/). The ETP program provides funds for employee training. This is not a loan, but funded training to your specifications that is paid for by 1/10 of one percent of a business’ unemployment tax. Annually the fund has perhaps $60 – 80 million with employee training payouts of up to $1,800 for each person trained.
Wherever you are doing business the odds are in your favor that public or private programs are available to benefit your business. Especially in today’s difficult economy.
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