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Business: The Key Business Center to the Coachella Valley

City of Indio-Key Business Center of the Coachella Valley
Commonly referred to as the City of Festivals — for attracting close to a million visitors each year through its various festivals, shows, concerts, events, and attractions — the City of Indio is also recognized for its entrepreneurial outlook and aggressive approach to attracting and expanding businesses. Business development opportunities abound for those who are looking to benefit from the residential explosions in and around Indio.

The Indio Chamber of Commerce
Businesses in Indio thrive in large measure to the commitment of the board of directors and staff of the Chamber whose programs of work include:
• Creating a Strong Local Economy
• Promoting the Community
• Providing Numerous Networking Opportunities
• Representing the Interests of the Business Community
• Political Action

Strategic Location
Indio has four exits off of Interstate 10, is linked to Palm Springs and other desert cities through Highway 111, and is accessible to Mexico via Highway 86 — known as the NAFTA Highway — making Indio regionally and internationally accessible. Located within the State Enterprise Zone and Federal Empowerment Zone, Indio is an ideal location to establish a business. Indio is also a member of the Coachella Valley Economic Partnership, and it benefits from an active Redevelopment Agency.

Residential Development — Growing Clientele Base
Indio is taking advantage of the huge population growth — from its current population of 77,000-plus to an expected population of over 150,000 within the next few years. Recent residential developments have increased home ownership opportunities for those homeowners who entered the housing market starting from the $300,000 home purchase range. In 2005/2006, 2,429 new single-family home building permits were issued in Indio north of Interstate 10 with over 10,000 units in the entitlement stage. This new residential development continues to create the clientele base to sustain commercial development. There are over 200,000 well-educated, higher-income residents living within 20 minutes of Indio. Taxable sales for 2006 were estimated at $921 million.

Downtown Revitalization Area
1-Downtown Indio Area
Indio has taken the initiative to refocus its attention on revitalizing the existing Downtown Area, also known as Old Town Indio. This area, considered the city’s center and foundation, provides an opportunity for developers who are looking to create mixed-use urban developments. The Redevelopment Agency currently owns approximately 60 acres of land in the Downtown Area and is pursuing the acquisition of additional land for development. Ample public parking will complement the emergence of commercial uses in the revitalized Downtown Area. Featured will be retail, restaurants, entertainment, office space, open space, and more…making Indio “the place to be.”

Expansion and Marketability of Retail/Commercial Corridors
The West Highway 111 Hospitality Corridor Gateway, the Central Highway 111 Regional Commercial Corridor, and the Indio I-10 Freeway Corridor are great examples of how Indio is expanding its business opportunities and increasing Indio’s marketability. Each area comprises a unique opportunity for development.

• The West Highway 111 Hospitality Corridor Gateway comprises an area of approximately 200 acres and is located between Jefferson St. to Madison St. on Highway 111. Zoned for mix-use, hospitality, regional commercial, and entertainment uses, this area provides the ideal location for easily accessible hotels, restaurants, and night entertainment uses. Traffic count: 33,000 vehicles daily.

• The Central Highway 111 Regional Commercial Corridor is located in the center of the city, at the intersection of Highway 111 and Monroe St., and provides an ideal location for a lifestyle center and/or expansion or revitalization to the existing Indio Fashion Mall. Traffic count: 30,000 vehicles daily.

• The Indio I-10 Freeway Corridor accommodates the I-10 Auto Mall, where the city owns over 16 acres for potential expansion. This area also features a proposed Home Depot Shopping Center and a proposed Super Target Center. The Corridor provides unparalleled freeway visibility and accessibility with a tremendous traffic count. Traffic count: 140,000 vehicles daily.

Quality of Life and Enhancement of Existing Amenities
The City of Indio is addressing current community needs. Major streets are being repaved and expanded; youth and senior centers are being developed; museums and parks are being renovated; new parks and fire stations are being built; new post offices are being planned; and water systems are being augmented and enhanced. Living, shopping, dining, and visiting opportunities abound.

For further information, please contact Mariano Aguirre, Development Manager, Community Development Department, City of Indio, at (760) 342-6500.

Building the Future
Polo Square is a proposed large-scale mixed-use project on prime Highway 111 frontage. The concept is completely unique to the desert cities, which adds to the excitement and anticipation. Within the 50 acres, over 350,000 square feet are dedicated to retail/restaurant/entertainment uses, and 200,000 square feet will be for professional offices, a 250-room 5-star hotel, a 120-room extended stay hotel, 450 luxury condominiums, 120 master-planned single-family units (each with their own pool, and a civic library). Polo Square received full city approvals with groundbreaking set for the fall of 2007.

Coachella Valley Enterprise Zone
The Enterprise Zone encompasses most of the commercial and industrial sites within the city. The Zone provides five major financial incentives. The most powerful is the Hiring Credits. Employers get state tax credits for new employees. Employers can reduce their state tax by up to $30,000 for each qualified employee (over a five year period). If new hires live within the Targeted Employment Area (TEA), which covers most of the local area, they automatically qualify. Many employers are saving tens of thousands of dollars each year with this incentive. Unused credits roll over to future years. There is no red tape or lengthy paperwork involved in using this program, and all businesses are eligible.

The other major incentives include Sales and Use Tax Credits, Business Expense Deduction, Net Operating Loss Carryover, and Net Interest Deduction for Lenders. The Zone also offers assistance with Bidders’ Preference on State Contracts, Manufacturers Investment Credit, Fee Waivers, Fast Track Permitting, and Site Selection Assistance.

Desert Communities Empowerment Zone
The Empowerment Zone only covers certain designated areas of Indio’s commercial/industrial land. However, there are some areas that overlay with the Enterprise Zone, therefore doubling the incentives. This Zone offers financial incentives somewhat similar to the Enterprise Zone, except they are Federal Tax Credits. The Hiring Credit offers employers up to $3,000 in savings off their income tax for every qualified employee. Unused credits roll over for up to 20 years. In order to qualify, employees must live and work in the Empowerment Zone boundaries. Indio is one of the very few locations in the country with both an Enterprise Zone and Empowerment Zone. Other incentives include Accelerated Depreciation and Tax-Exempt Bond Financing.