Elk Grove Approves New Financial Incentives to Incubate and Attract Startups
8/30/18 The City of Elk Grove has approved $1.5 million for
Startup Elk Grove, a program geared towards encouraging
entrepreneurs, helping existing startups that are looking to
grow, and building a base of incubator supporters such as
co-working spaces. The program provides a mix of financial,
permitting, and site selection assistance based on three tiers:
Launch, Scaleup and Spaces. The Launch program offers
incentives up to $10,000 along with city-paid co-working tuition,
Scaleup provides incentives up to $150,000 for existing startups
with high growth potential, and Spaces provides as much as
$250,000 in permit expediting and site selection assistance for
proven operators.
Competitiveness among peer metropolitan regions is increasingly
defined by a local economy’s ability to innovate and
commercialize new products, processes, and platforms. Developing
an innovation-based economy in Elk Grove by fostering the growth
of startup companies, is one way the city is developing a more
competitive and sustainable economy. It’s also a critical
component of Elk Grove’s strategy to develop a better
jobs-housing balance in order to support the regional Blueprint
program and take the pressure off increasingly congested highway
corridors such as I-5 and highway 99.