On August 25, 2009, the Board of Supervisors approved extending an agreement with Tri-Tool, Inc. located in Rancho Cordova. Extending this agreement will allow for the issuance of Industrial Development Bonds (IDBs) to support the continuing growth and success of Tri-Tool Inc. Industrial Development Bonds (IDBs) are tax-exempt securities issued up to $10 million by a governmental entity, to provide money for the acquisition, construction, rehabilitation and equipping of manufacturing and processing facilities for private companies. The County does not actually issue the bonds. They are issued by the California Enterprise Development Authority. The Board action will allow Tri Tool to apply for up to $10,000,000 in IDB’s. The Board action allows Tri-Tool to achieve lower annual debt service costs. By assisting Tri Tool Inc. in managing its financial obligations, Sacramento County will continue to have the economic benefit from Tri Tool Inc.’s manufacturing facility.

Tri Tool is the world leading designer and manufacturer of precision portable machine tools for pipe cutting. The Rancho Cordova plant employs nearly 200 employees and the company’s recent $14 million expansion resulted in the creation of 54 new positions.

The County is happy to assist Tri Tool, Inc. with its needs and hopes to hear from other manufacturers if they should need assistance in expanding their businesses.

The State has conditionally approved a new and expanded Sacramento Enterprise Zone which consolidates three existing zones (North Sacramento, Florin-Perkins, Army Depot) and expands the Zone by 40,000 acres. The new Enterprise Zone area includes industrial zoned areas in Sacramento County and the Cities of Sacramento and Rancho Cordova. Enterprise Zones allow businesses within the boundaries to receive various incentives. The Zones, which are designated for 15 years, provide businesses located in them with a wide range of financial incentives including operating loss carryover, accelerated depreciation of equipment, rebates of sales tax paid on qualified equipment purchases, preference points on state contracts and hiring tax credits.

In August 2007, Sacramento auto dealer giant Vince Maita purchased Turner Nissan. With assistance from Sacramento County’s Department of Economic Development, the dealership, now called Maita Nissan of Sacramento, has both a new name and facility. Maita Nissan of Sacramento relocated the new car dealership from its long-time home on Fulton Avenue to 2820 Auburn Boulevard. The new facility has a state-of-the-art show room and is visible from the Capital City Freeway. More than 100 employees work at the 47,000-square-foot dealership with 28 service bays. Sacramento Nissan is one of Nissan’s larger stores.

Siemens Transportation Systems, part of Sacramento-based Siemens Mobility Division, is now seeing green (savings) from their decision to install what is Sacramento’s largest privately owned solar energy system. The South Sacramento County manufacturer of light rail train cars activated a one megawatt solar farm installed over an employee parking lot eight months ago.

The panels cover approximately 100,000 square feet and provide the manufacturing plant with one half of its electricity need.

"Using solar energy to power our operations complements our green product portfolio," Oliver Hauck, president and CEO of the Mobility Division of Siemens in the United States, said in a news release.