There are various types of incentives and financing programs to help your business. Click on the type of program below to view more detailed information.
- Special Property Tax Valuation for Historic Properties - The City of College Place is a Certified Local Government and as such has the ability to offer Special Property Tax Valuation to property owners who petition to add a site to the local city historic building registry. Staff Contact: Jon Rickard - Planning Director Phone: (509)-394-8524 Email: email@example.com
- Downtown Catalyst Incentive - This program was created in early 2020 and is only applicable to properties within the Downtown mixed-use College Avenue corridor. If a project is 3,000 sq ft on the first floor with commercial, residential above, and fits the College Ave Design Guidelines, the project can be approved for a waiver of building/grading permit fees. Staff Contact: Mike Rizzitiello - City Administrator, Phone (509)-394-8506, Email: firstname.lastname@example.org.
- Micro-Business Asistance Program - The City of College Place has partnered with the City of Walla Walla, Port of Walla Walla, Walla Walla Valley Chamber of Commerce, and MercyCorp NW to offer a Micro-Business Assistance Program. Participants in the first cohort learn how to develop a business plan, operate a business, and obtain a $4,500 matching grant if they manage to save $500 over six months. Staff Contact: Mike Rizzitiello - City Administrator Phone: (509)-394-8506 Email: email@example.com.
- Opportunity Zone - Census Tract #920300 whose borders are Myra Rd to the east, Academy Way/Davis to the west, Electric Avenue to the north, and Lamperti Rd to the south has been certified as a Opportunity Zone by Governor Inslee. This program is good until 2026. This program allows for deferral of capital gains taxes until 2026 as well as a deduction for investments in projects in the Opportunity Zone. Staff Contact: Mike Rizzitiello - City Administrator Phone: (509)-394-8506 Email: firstname.lastname@example.org
- Business Analyst Demographic & Market Reports - The City will run market and demographic reports for businesses which reside in the City or are thinking about locating into the City of College Place. Staff Contact: Mike Rizzitiello - City Administrator Phone: (509)-394-8506 Email: email@example.com
Please visit the Choose Washington Incentive & Financing portal for more information on state programs.
Economic Development Administration—This office is in charge of leading the federal economic development agenda.
HUBZones—The Historically Underutilized Business Zones (HUBZone) program run by the Small Business Administration (SBA) helps small businesses in urban and rural communities gain preferential access to federal procurement opportunities.
International Trade Administration (ITA)—The ITA strengthens the competitiveness of U.S. industry, promotes trade and investment, and ensures fair trade through the rigorous enforcement of our trade laws and agreements.
New Market Tax Credits—This program encourages investment in low-income communities.
Small Business Administration—The United States Small Business Administration (SBA) offers business assistance and several types of loans and grants to assist small businesses throughout the country.
Export-Import Bank of the United States (Ex-Im Bank)—The Ex-Im Bank assists in financing the export of U.S. goods and services to international markets.
BanksTraditional banks offer financing options for your business. Visit your local branch officer for more information on business loans. Banks may be able to assist with new market tax credits (NMTC), historic preservation loans, and other financing options for your business. A directory of regional banks is located here.
Community Development Financial Institute (CDFI)Several organizations in the State of Washington offers a certified nonprofit CDFI serving urban and rural communities in the Pacific Northwest, specializing in higher risk business loans.
Non-Traditional Loan Organizations