California Seeks to Improve Business Climate
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By: Chester Wallace
Community Writer
Photo Courtesy of:
Pixabay
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n 2013, the California Competes Tax Credit was created by Governor Brown to focus on helping businesses grow and stay in California.
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SAN BERNARDINO>> In an ongoing effort to improve California’s business climate, the Governor’s Office of Business and Economic Development (GO-Biz) provides tax credits to companies that are expanding and creating jobs in California. The awards help these companies create new jobs and generate new total investment across California. Three companies in San Bernardino County were among the 2017 recipients, including: San Antonio Winery, Top-Tier Engineering, and SoCal Packaging Repair Inc.
“We are excited to have companies in our region benefit from this state program. It is important to us to help our local employers to stay and grow in our County. Our team looks forward to helping more companies seek out these tax credits as well as many other advantages,” said Reg Javier, Deputy Executive Officer of Workforce and Economic Development, San Bernardino County.
In 2013, the California Competes Tax Credit was created by Governor Brown to focus on helping businesses grow and stay in California. This fiscal year, GO-Biz allocated over $240 million in total tax credits. Since 2014, GO-Biz has allocated $492.5 million to 688 companies projected to create 70,747 new jobs and make $14.4 billion in new investments. The following are the local companies that benefited from the California Competes Tax Credit:
San Antonio Winery Inc. operates in Ontario, Los Angeles and Paso Robles. The firm recorded a net increase of 33 employees and $15,430,000 in investment to earn a $475,000 tax credit. San Antonio Winery remains the oldest producing winery in Los Angeles with over 99 years of wine making.
Top-Tier Engineering Inc. operates in Ontario and Merced providing electrical engineering services. The firm achieved a net increase of 39 employees and $1,158,000 in investments earning a tax credit of $360,000.
So-Cal Packaging Repair Inc. provides warehouse equipment installation and repair services from its Chino location. The firm gained eight employees with an investment of $226,150 and earned a tax credit of $50,000.