Local Option Economic Development Plan

The City of Fremont invests Local Option Economic Development Plan funds for the purpose of attracting new industries and retaining or expanding existing businesses in Fremont. Funds are offered to businesses in the form of low or 0% interest loans and performance-based forgivable loans (grants), based upon creation of new jobs and investment in Fremont. Job creation criteria are detailed in the application, including wages and benefits. Businesses must provide matching funds for the project.

Goals
It is the intent of the City of Fremont to implement an Economic Development Plan with the following purpose and goals:
• Create new jobs
• Attract new business
• Assist existing business expansions
• Attract new capital investment
• Develop attractive sites for industrial and business park development

  1. Eligibility
  2. Application Process
  3. Background

Eligible Activities
Eligible activities under the Economic Development Plan may include the following to attract new and existing business and industry development in Fremont
• Land purchase/options
• Infrastructure to new or existing business and industry
• Site improvements
• Construction for new or existing business or industry or on a speculative basis
A complete list of eligible activities can be found in the current Local Option Economic Development Plan (PDF).


Eligible Businesses
A qualifying business shall mean any corporation, partnership, limited liability company, or sole proprietorship which derives its principal source of income from any of the following:
• Research and development
• Manufacturing
• Warehouse/Distribution
• Sale of services in interstate commerce
• Headquarter facilities
• Telecommunications
• Tourism-related activities