Eighteen San Diego County businesses will receive $20.24 million in state tax credits through the governor’s Office of Business and Economic Development (GO-Biz) for creating 4,311 new jobs.The businesses are among 93 throughout the state that received tax credits to expand and create jobs in California. Altogether, $69 million in credits were awarded. In earlier rounds of the California Competes program, 12 San Diego area companies received more than $7 million in tax credits.
The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California. The Cal Competes program is managed by GO-Biz.
Tax credit agreements are negotiated by GO-Biz and approved by the California Competes Tax Credit Committee, which consists of the State Treasurer, the Director of the Department of Finance, the Director of GO-Biz, one appointee each by the Speaker of the Assembly and Senate Committee on Rules.
The amount of credits available will increase each year until 2018. Twenty-five percent of the credits are reserved for small businesses.
The San Diego recipients were:
Abtech Technologies, Inc.
Industry: Online Data Storage and Backup Services
Primary Location(s): Carlsbad
Net Increase of Full-time Employees: 19
Investment: $1,000,000
Amount of Tax Credit: $25,000
BAE Systems Holdings Inc.
Industry: Ship Building and Repairing
Primary Location(s): San Diego
Net Increase of Full-time Employees: 197
Investment: $103,000,000
Amount of Tax Credit: $1,550,000
Council Brewing Company, LLC
Industry: Specialty Micro-Brewery
Primary Location(s): San Diego
Net Increase of Full-time Employees: 36
Investment: $11,375,000
Amount of Tax Credit: $45,000
GKN Aerospace Chem-tronics, Inc.
Industry: Aircraft Engine and Engine Parts Manufacturing
Primary Location(s): Santa Ana, El Cajon and Garden Grove
Net Increase of Full-time Employees: 494
Investment: $125,050,697
Amount of Tax Credit: $1,200,000
H.M. Electronics, Inc.
Industry: Communications Equipment Manufacturing
Primary Location(s): Poway
Net Increase of Full-time Employees: 152
Investment: $9,000,000
Amount of Tax Credit: $400,000
Johnson Matthey, Inc.
Industry: Surgical Appliance and Supplies Manufacturing
Primary Location(s): San Jose and San Diego
Net Increase of Full-time Employees: 48
Investment: $14,283,458
Amount of Tax Credit: $200,000
KOAZ, Inc.
Industry: Commercial Printing and Mailing Center
Primary Location(s): National City
Net Increase of Full-time Employees: 7
Investment: $356,500
Amount of Tax Credit: $70,000
L.B. Powers and Son Plumbing Co., Inc.
Industry: Plumbing, Heating, and Air-Conditioning Contractors
Primary Location(s): San Diego
Net Increase of Full-time Employees: 7
Investment: $354,000
Amount of Tax Credit: $20,000
Marine Group Boat Works, LLC
Industry: Boat Repair and Construction
Primary Location(s): Chula Vista
Net Increase of Full-time Employees: 87
Investment: $11,400,000
Amount of Tax Credit: $550,000
Meridian Rack & Pinion, Inc.
Industry: Online Automotive Parts Merchant
Primary Location(s): San Diego
Net Increase of Full-time Employees: 63
Investment: $3,244,000
Amount of Tax Credit: $90,000 For the full list of finalists, visit: www.calcompetes.ca.gov.
Northrop Grumman Systems Corporation
Industry: Aircraft Manufacturing
Primary Location(s): Redondo Beach, El Segundo, Palmdale, San Diego, Sunnyvale and Woodland Hills
Net Increase of Full-time Employees: 1,359
Investment: $520,308,000
Amount of Tax Credit: $10,000,000
Pacific Blue Innovations, LLC
Industry: Research and Development Services
Primary Location(s): Vista
Net Increase of Full-time Employees: 52
Investment: $10,500,000
Amount of Tax Credit: $200,000
Pacific Steel Group
Industry: Steel Reinforcing Contractors
Primary Location(s): San Diego
Net Increase of Full-time Employees: 542
Investment: $5,000,000
Amount of Tax Credit: $1,850,000
Perfect Bar & Company
Industry: Nutrition/Health Food Manufacturing
Primary Location(s): San Diego
Net Increase of Full-time Employees: 90
Investment: $4,565,000
Amount of Tax Credit: $170,000
Samumed, LLC
Industry: Biopharmaceutical Research and Development
Primary Location(s): San Diego
Net Increase of Full-time Employees: 273
Investment: $30,500,000
Amount of Tax Credit: $2,100,000
Split Decision Holding Company, LLC
Industry: Custom Computer Programming and Background Check Services
Primary Location(s): San Jose and San Diego
Net Increase of Full-time Employees: 665
Investment: $14,967,600
Amount of Tax Credit: $725,000
T2e Energy Holdings, LLC
Industry: Organic Chemical Manufacturer
Primary Location(s): Vista
Net Increase of Full-time Employees: 199
Investment: $364,000,000
Amount of Tax Credit: $1,000,000
Tioga Research, Inc.
Industry: Biotechnology Research and Development
Primary Location(s): San Diego
Net Increase of Full-time Employees: 21
Investment: $1,116,241
Amount of Tax Credit: $45,000