SAN BERNARDINO COUNTY, CA. - Five companies within San Bernardino County have been awarded California Competes Tax Credits totaling nearly $5.5 million for the creation of 1,148 new jobs. The award is from the Governors Office of Business and Economic Development (GO-Biz) and approved by the California Competes Tax Credit (CCTC) committee. 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.
These five local businesses were among the 56 companies chosen by the Governors office. Companies apply for tax credits at www.calcompetes.ca.gov and GO-Biz evaluates the most competitive applications based on the factors required by statute, including total jobs created, total investment, average wage, economic impact, strategic importance and more. Chosen companies are exempted from paying state income taxes in the amount awarded.
San Bernardino County is committed to doing all we can to support job creation for its new and expanding businesses, said Larry Vaupel, Economic Development Agency Administrator for San Bernardino County. California Competes is one of the programs we promote and incorporate into our local economic development efforts. Our local companies recognized by the Governors office are indicative of the strong business climate we have regionally and the ongoing strength of our small-to-mid size business community.
Following is information on each of the San Bernardino County businesses awarded the tax credit:
- Bottled water manufacturer, Niagara Bottling, LLC in Rialto, was awarded a $2.7 million tax credit with a net increase of 409 employees
- Retail warehouse and distributor, QVC, Inc. was awarded a $1.4 million tax credit with a net increase of 521 employees. (A new facility to open in either Ontario, Rialto, or neighboring community of Eastvale.)
- Tablet and phone case manufacturer, AFC Trident, Inc. in Ontario was awarded a $650,000 tax credit with a net increase of 83 employees
- Steel company, CSI Tubular Products, Inc. in Fontana, was awarded a $540,000 tax credit with a net increase of 105 employees
- Sawmill and agricultural product manufacturer, Fruit Growers Supply Company in Ontario, was awarded a $200,000 tax credit with a net increase of 30 employees.
Vaupel noted that the creation of jobs is important to the region, however, it is just as important to sustain them long-term for the health of the County, as well as the state of California. The states economy continues to be of the nations leaders in job creation and business retention. A recent study by SSTI analyzed the data from the Bureau of Labor Statistics to determine the business survival rate by state. California was the clear leader by farnot only in terms of business starts with nearly 80,000 new businesses in 2007 (Texas was second with 46,304), but the six-year survival rate through the Great Recession years for California businesses (2007-2013) was 71%. The next best state was Massachusetts at 56%. California is the only state to have a 10-year-survival rate above 50%, at 54.8%.
About San Bernardino County: Located at the heart of Southern California, a lucrative economy of 22 million people, San Bernardino County is the largest county in the United States. Its vast borders stretch from the greater Los Angeles area to the Nevada border and the Colorado River encompassing a total area of 20,160 square miles. Comprised of 24 cities, San Bernardino County encompasses more than two million residents with a workforce exceeding 900,000. Its assets include an innovation corridor of close to two dozen colleges and universities supporting a strong, diverse workforce along with an unparalleled collection of roadways, runways and railways that lead to regional, national and international business centers. Some of the regions advantages also include a lower cost quality lifestyle, compared to surrounding counties, and an engaged Workforce Investment Board that seeks to provide a skilled workforce that will help businesses thrive. Visit www.SBCountyAdvantage.com.
About California Competes: The California Competes tax credit is part of the Governors Economic Development Initiative (GEDI) which Governor Brown signed legislation to enact in 2013 (AB 93 and SB 90). Companies apply for tax credits at www.calcompetes.ca.gov and GO-Biz evaluates the most competitive applications based on the factors required by statute, including total jobs created, total investment, average wage, economic impact, strategic importance and more. Companies are exempted from paying state income taxes in the amount awarded.
About GO-Biz: The Governors Office of Business and Economic Development (GO-Biz) serves as Californias single point of contact for economic development and job creation efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit: www.business.ca.gov.