The City of Yokohama has put in place a variety of incentive programs in order to attract foreign businesses to Yokohama. The incentive programs support companies that for instance open new offices, R&D facilities or manufacturing sites in specially designated areas, are active in designated industries that Yokohama wants to foster, or move their Japanese headquarters to Yokohama. Financial support within the framework of these incentive programs includes subsidies for office rent and tax reductions. The kind of support and maximum amount depend on the individual program and the specific business.
Companies have to meet certain criteria in order to receive support through incentive programs. Criteria include the size of the company, the amount of investment in Yokohama, and the number of new jobs created. Companies need to be aware that at least a part of the application forms must be submitted to the City of Yokohama before signing a lease contract. If the total value of subsidies applied for exceeds the annual budget for the program, subsidies to individual companies will be reduced by an amount necessary to keep the program within its budget.