How does Palmdale differentiate itself?
Palmdale is located in the heart of the Antelope Valley, affectionately known as Aerospace Valley, where hundreds of innovative aerospace, commercial space, research and development and government facilities employ more than 260,000 highly skilled people. Although Palmdale is known for its rich aerospace history, the City is also quickly becoming a manufacturing and logistics hub for Southern California. Businesses are attracted to Palmdale’s business-friendly approach, streamlined development process and skilled workforce. People who value a high quality of life, recreational programs for every age group, and the opportunity of homeownership, call Palmdale home. With more than 5,300 new housing units in the development pipeline, there are plenty of opportunities to support the long-term housing needs of this growing community.
What type of opportunities exist for businesses looking to relocate or expand to Palmdale?
More than 60% of the City’s 106 square miles is undeveloped, so there is ample opportunity for businesses seeking to expand and relocate. With affordable land and buildings — in comparison to the rest of the LA market — Palmdale also creates opportunities for businesses who are tired of leasing to finally own. Unlike many communities in Los Angeles County, Palmdale welcomes development, allowing businesses of all sizes to develop facilities to suit their specific needs. National developers are entitling more than 13 million square feet of new industrial space, with new facilities from 100,000 to more than 1,000,000 square feet.
Which industries are demonstrating the most interest in Palmdale today?
Aerospace, manufacturing, logistics, lm and renewable energy industries have staked a claim in Palmdale. The City’s strong aerospace presence, history of innovation and flight test continue to make it a top choice for aerospace businesses. Manufacturing and logistics businesses are drawn by the skilled workforce and easy access to major highways, ports and airports. Palmdale is expanding its film-friendly reputation as shooting days continue to increase with new investment in film stages, warehouses and rental facilities, including the opening of the new Palmdale Film Stage. These industries collectively contribute to Palmdale’s economic diversification and make it an attractive destination for a variety of businesses.
What financial, tax incentives or other programs have been created to help Palmdale attract businesses?
Palmdale offers several incentive programs and other opportunities to make business relocation or expansion less burdensome. The Palmdale Enhanced Infrastructure Financing District (EIFD) provides funding for the City to partner with businesses to help build offsite infrastructure improvements to support new development. Palmdale enjoys its own Foreign Trade Zone designation allowing businesses to reduce or eliminate tariffs and duties paid on imported and exported goods. This benefits companies engaged in foreign trade. The new Aerospace Incentive Program, launching later this year, is designed to attract small and medium-sized businesses supporting the aerospace industry. The program provides financial incentives to qualified businesses bringing high-paying jobs and new capital investment in Palmdale.
Palmdale is part of the expanded TMZ Secondary Film Zone which provides incentives to filmmakers and production companies, encouraging them to lm in Palmdale. Film Palmdale will also soon launch a new incentive program to provide rebates on lm permit fees, making Palmdale an appealing destination for lm and television productions.
