SCVEDC awarded Richard Photo Lab an Industry Cluster Attraction Incentive (ICAI) of $23,694 today. Richard Photo Lab relocated to the Santa Clarita Valley in 2015. As a company in the Digital Media & Entertainment cluster, the company was eligible for the incentive.
The Industry Cluster Attraction Incentive was designed by SCVEDC to offset the costs of fees that company incur when they establish new operations in the Santa Clarita Valley. The incentive is available to any company in one of SCVEDC's target industry clusters that has at least 20 employees when it begins operations in the Santa Clarita Valley.
Richard Photo Lab is a premier lab for digital press, high-quality photo printing film processing, and film scanning for a worldwide client base. Their clients range from student photographers to award winning professional photographers. Richard Photo Lab relocated 38 employees to the Santa Clarita Valley from Hollywood. The enticement of a business friendly atmosphere, safety for the employees, a better selection of professionals to add to the staff, and lease rates were among some of the reasons for moving to Santa Clarita.
The ICAI reimburses relocating companies for fees and permits associated with moving to the area. In the case of Richard Photo Lab, most of the incentive will be used to reimburse fees that were required by the Sanitation District to increase the sewer capacity of the building.
The ICAI is made possible by a special grant from LA County and is administered by SCVEDC. The maximum award possible is $40,000. More information about the incentive is available here or by contacting SCVEDC.