Last week, the State of California, paid over $30 million in tax credits to 56 businesses in the state. The tax credits, a part of a new economic development program called "California Competes", are projected to help these companies create roughly 4,900 jobs and generate over $900 million in investments across California.
"The California Competes tax credit continues to demonstrate that it is one of the most effective tools for encouraging companies to expand and add jobs in California...further contributing to California's position as the most dynamic economy in the world," said committee chair Michael E. Rossi.
"The California Competes tax credit continues to demonstrate that it is one of the most effective tools for encouraging companies to expand and add jobs in California...further contributing to California's position as the most dynamic economy in the world," said committee chair Michael E. Rossi.
Kinkisharyo employees working on their light rail cars. (Photo: Jim E. Winburn) Kinkisharyo, the leading manufacturer of light rail vehicles in North America, recently relocated their manufacturing plant to Palmdale. Kinkisharyo was awarded $450,000 under the California Competes program and will receive the money if they meet certain milestones, here are a couple of those milestones:
- Kinkisharyo must ramp up to 193 employees and maintain those workers for three years.
- Kinkisharyo must invest more than $345,000 in improvements to its Palmdale facility.
BYD, is the world's largest rechargeable battery manufacturer and the first Chinese automobile manufacturer in the U.S. Their all electric vehicle manufacturing plant and battery manufacturing plant for the U.S. is located in Lancaster. BYD was awarded $3 million under the California Competes program, here are a few milestones they must reach to receive the award:
- BYD must expand its Los Angeles headquarters and manufacturing facilities in Lancaster.
- BYD must ramp up its workforce at both places to at least 243 workers by 2016, to 388 in 2017, and to 625 in 2018.
- BYD is required to make investments of $51 million by 2018.
The California Competes tax credits, a part of the Governor's Economic Development Initiative, are a replacement for the state's recently eliminated Enterprise Zone program. Governor Brown's initiative reinstates the boundaries of the Enterprise Zone in the Antelope Valley.
Congratulations to all of you that own commercial land in the Antelope Valley Enterprise Zone boundary, near BYD, and near Kinkisharyo!
Congratulations to all of you that own commercial land in the Antelope Valley Enterprise Zone boundary, near BYD, and near Kinkisharyo!
For those of you that have not invested in the area, ask yourself these four questions:
1.) If I were to buy commercial land near these projects, am I really the one investing when I'm only spending $10s of thousands while the state is spending millions and businesses are spending $10s of millions near me or am I simply positioning myself to reap the benefits of those that are aggressively investing around me?
2.) How important is BYD when the State of California is willing to spend $3 million, 10% of their recent $30 million total award, on BYD? Furthermore, BYD has committed to spend over $50 million in improvements over the next three years, should I invest in the same type of land as BYD on the same street as BYD within half a mile from BYD so as they grow my investment explodes in value?
3.) Governor Brown visited BYD in Lancaster last year, when is the last time the governor visited my city? If the city and the businesses that are there are so important that the Governor visits and that the State of California invests there, should I too visit and possibly invest [a fraction of the money] there too?
4.) What in the world am I waiting for?
Finally...an investment that works!
Investing in commercial land in a high growth area that is carefully selected with the help of proven experts is a no brainer. Learn for yourself how simple it is to be a successful real estate investor, click here and attend our next free meeting!
1.) If I were to buy commercial land near these projects, am I really the one investing when I'm only spending $10s of thousands while the state is spending millions and businesses are spending $10s of millions near me or am I simply positioning myself to reap the benefits of those that are aggressively investing around me?
2.) How important is BYD when the State of California is willing to spend $3 million, 10% of their recent $30 million total award, on BYD? Furthermore, BYD has committed to spend over $50 million in improvements over the next three years, should I invest in the same type of land as BYD on the same street as BYD within half a mile from BYD so as they grow my investment explodes in value?
3.) Governor Brown visited BYD in Lancaster last year, when is the last time the governor visited my city? If the city and the businesses that are there are so important that the Governor visits and that the State of California invests there, should I too visit and possibly invest [a fraction of the money] there too?
4.) What in the world am I waiting for?
Finally...an investment that works!
Investing in commercial land in a high growth area that is carefully selected with the help of proven experts is a no brainer. Learn for yourself how simple it is to be a successful real estate investor, click here and attend our next free meeting!
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