San Bernardino County, CA– Nearly $20.2 million in California Competes Tax Credits was awarded to San Bernardino County firms that are committed to creating full-time, quality jobs in California.
The California Competes Tax Credit is an income tax credit available to businesses that want to locate in California or stay and grow in California. The purpose of the California Competes Tax Credit is to attract and retain high-value employers in California in industries with high economic potential that provide their employees good wages and benefits.
The Governor’s Office of Business and Economic Development (GO-Biz) awarded a total of $150 million in tax credits that are projected to create more than 7,600 new, full-time jobs in California. The funding, from the California Competes Tax Credit program, will bring more than $1.2 billion in new investments across the state over the next five years.
San Bernardino County companies recognized by the California Competes Tax Credit committee include:
- MP Materials Corp. located in Mountain Pass was awarded a tax credit of $14.8 million.
- Diamond Wipes International, Inc. located in Chino was awarded a tax credit of $3.2 million.
- Rexnord Industries LLC located in Ontario was awarded a tax credit of $1.2 million.
- Mainstream Tours, Inc. located in San Bernardino was awarded a tax credit of $500,000.
- TPG Payroll & HR Services, Inc. located in Rancho Cucamonga was awarded a tax credit of $250,000.
- Daylight Transport LLC located in Fontana was awarded a tax credit of $250,000.
“These San Bernardino County companies demonstrate the best of what our County’s business community has to offer. We commend them for their commitment to grow and reinvest in the region,” said Board of Supervisors Chairman Curt Hagman. “The County is committed to helping businesses to grow and thrive.”
To that end, San Bernardino County’s economic development team provides a number of important programs and initiatives that include site selection assistance, business plan development, permitting assistance, workforce assistance as well as demographic and market reports. These programs further supplement job creation and expansion in addition to the California Competes Tax Credit program.
The next application period will start on January 3, 2022, with $120 million available. The California Competes Grant Guidelines have been posted here. Applications must be submitted by Monday, January 24, at 11:59 p.m. The online application can be accessed at www.calcompetes.ca.gov.