“The California Competes Tax Credit continues to encourage companies from around the world to locate, expand and add good paying jobs in our state.” said Lenny Mendonca, Chief Economic Advisor to the Governor, GO-Biz Director, and Chair of the California Competes Tax Credit Committee.  “It is exciting to see the growing trend of employers taking advantage of the workforce opportunities in the Central Valley and Inland Empire. As this administration strives towards an economy that works for all Californians, we look forward to helping businesses expand beyond the coastal areas and grow in all regions of the state.” 

Of the $70 million awarded in this round, over $20 million was allocated to businesses in the Central Valley and Inland Empire. These companies are projected to create 1,170 jobs and invest nearly $700 million in those regions.

GO-Biz Director and Committee Chair, Lenny Mendonca convened the committee, which includes Treasurer Fiona Ma, Director of the Department of Finance Keely Bosler, and Senate appointee Denise Zapata and Assembly appointee Madeleine Janis, in Sacramento.

The California Competes Tax Credit was created in 2013 to focus on helping businesses grow and stay in California.  In 2018 the program was extended for an additional five years with at least $180 million in tax credits available for allocation to business each year through 2023. Since 2014, GO-Biz has allocated $899 million to 1,009 companies projected to create 99,591 new jobs and make $19 billion in new investments.

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development 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.

Contact Information
Address:
1325 J Street, Suite 1800
Sacramento, CA 95818
Phone: 1-877-345-4633
Email Us

Explore more articles by category:  GO-Biz News  |  CalOSBA News  |  Press Releases |  Opinion Editorials

“The economic expansion continues, with California adding 14,600 nonfarm payroll jobs in February. The unemployment rate remains steady, and is slightly less than February of last year. California added 222,500 jobs from February 2018 to February 2019, and encouragingly, job growth was robust in Central Valley, with Fresno seeing a 3.6% increase in jobs—second only to the Bay Area. We are optimistic that employers are beginning to realize the workforce opportunities of this region. Moving forward, we will pursue economic policies that help California’s heartland continue to rise.

For more detailed information on this month’s employment numbers, please visit the EDD’s website here: https://www.edd.ca.gov/About_EDD/pdf/urate201903.pdf 

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development 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.

Contact Information
Address:
1325 J Street, Suite 1800
Sacramento, CA 95818
Phone: 1-877-345-4633
Email Us

Explore more articles by category:  GO-Biz News  |  CalOSBA News  |  Press Releases |  Opinion Editorials

“Sometimes it feels like living in the last, undiscovered region of California,” said Ashley Swearengin, president of the Central Valley Community Foundation and former Fresno mayor.  “But, Fresno and the Central San Joaquin Valley are one of the fastest growing regions in the state.  More than half our population is under the age of 30.  Our communities are young and vibrant and have a lot to offer our state.  I think that’s why the Newsom Administration is focusing so much on what’s going on in Inland California, as well as the coast.”  

The hosts for the Monday evening reception include Meg Whitman, serial tech entrepreneur and Dilawar Syed, the Silicon Valley Leadership Group, the Bay Area Council, and the Parker Foundation.  Event organizers say its purpose is to build important professional relationships that could lead to business and civic partnerships that benefit both regions.

“I’ve been travelling to Fresno regularly over the last year and a half and getting to know the community,” said Syed, CEO of Lumiata and the main organizer of the Valley to Valley reception. “I’ve learned this is a region with a lot of talent and entrepreneurial drive. High-growth ventures in the Bay Area need access to that talent to continue to grow and add jobs and value to our state’s economy. Our “Valley to Valley” effort will bridge opportunity in Silicon Valley with a passionate and quality talent pool in Central Valley.”

Lenny Mendonca, Governor Newsom’s Chief Economic and Business Advisor, is the featured speaker at the event.  Mendonca, a Turlock native, has long championed California’s Central Valley as an up-and-coming region of the state.

“The Central Valley is going to surprise a lot of people in the coming years. The talent coming out of Fresno State, UC Merced, and other local post-secondary schools is already impressive, and it’s going to continue to grow,” said Mendonca. “As the Governor affirmed in his State of the State this year, ‘The Valley may be known around the world for agriculture, but there is another story ready to be told. A story of a region hungry for investment, a workforce eager for more training and good jobs, Californians who deserve a fair share of our state’s prosperity.’”

Also joining in the ‘Valley to Valley’ reception are Fresno Mayor Lee Brand, Fresno State President Joe Castro, UC Merced Chancellor Dorothy Leland, Steve Westly, Carl Guardino of the Silicon Valley Leadership Group, and Jim Wunderman of the Bay Area Council.

Event organizers say this is the first of many exchanges between the two regions. 

What: Valley to Valley Reception
When: Today, Monday, March 18, 2019 from 6:00-8:00 PM
Where: Il Fornaio Restaurant, 520 Cowper St, Palo Alto, CA 94301

 NOTE: This event is open to credentialed media. Interested reporters should contact Sarah Moffat at sarah@centralvalleycf.org

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development 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.

Contact Information
Address:
1325 J Street, Suite 1800
Sacramento, CA 95818
Phone: 1-877-345-4633
Email Us

Explore more articles by category:  GO-Biz News  |  CalOSBA News  |  Press Releases |  Opinion Editorials

“Even with a marginal uptick in unemployment numbers, the state’s employers added 3,000 nonfarm payroll jobs, continuing the long recovery and economic expansion that began in February 2010. This sixth consecutive month of job growth is more modest than the previous months, reflecting an economy operating at near-full employment, or capacity. While month-over-month changes in job growth saw a reduction in the construction sector and the trade, transportation, utilities sector—largely due to weather conditions—I am heartened that the year-over-year changes show that California continues to experience broad-based growth across major industry sectors, which is a sign of strength in the economy.”

For more detailed information on this month’s employment numbers, please visit the EDD’s website here: https://www.edd.ca.gov/About_EDD/pdf/urate201903.pdf

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development 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.

Contact Information
Address:
1325 J Street, Suite 1800
Sacramento, CA 95818
Phone: 1-877-345-4633
Email Us

Explore more articles by category:  GO-Biz News  |  CalOSBA News  |  Press Releases |  Opinion Editorials

Governor Brown, “I urge all Californians to support small businesses during Small Business Saturday on November 24th …”

Sacramento, Calif. – Governor Edmund G. Brown Jr. today issued a letter in support of the upcoming Small Business Saturday on November 24th. Small Business Saturday is an initiative that marks a day to support the local businesses that create jobs, boost the economy and preserve neighborhoods around the country.

“California has 3.9 million small businesses which employ 49 percent of the private sector workforce and generate over 40 percent of the California’s $152.1 billion in total exports,” stated the Governor in his letter. “I urge all Californians to support small businesses during Small Business Saturday on November 24th, and to continue their support throughout the year.”

View the Letter.

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development 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.

Contact Information
Address:
1325 J Street, Suite 1800
Sacramento, CA 95818
Phone: 1-877-345-4633
Email Us

Explore more articles by category:  GO-Biz News  |  CalOSBA News  |  Press Releases |  Opinion Editorials

Sacramento, Calif. – Today, the Governor’s Office of Business and Economic Development (GO-Biz) announced that the California Competes Tax Credit (CCTC) committee approved $70 million in tax credits for 17 companies projected to create 2030 jobs, retain 4,468 existing jobs, and make $468 million worth of new investments across California.  View the complete list of approved companies and award amounts.

“The California Competes Tax Credit encourages companies from around the world to locate, expand and add good paying jobs in our state.” said Panorea Avdis, GO-Biz Director and Chair of the California Competes Tax Credit Committee.  “This round of recipients includes the largest single tax credit award in the history of the program, one of California’s leaders in aerospace manufacturing, Lockheed Martin.  We look forward to all of the companies’ ongoing commitment and investment in California.”

GO-Biz Director and Committee Chair, Panorea Avdis convened the committee, which includes Treasurer John Chiang, Director of the Department of Finance Keely Bosler, and Senate appointee Denise Zapata and Assembly appointee Madeleine Janis, in Sacramento.

A longtime contributor to California’s leadership in the aerospace industry, Lockheed Martin, was awarded $39.5 million tax credit.  The company has committed to adding 450 new jobs in addition to retaining over 2400 existing employees in its “Skunk Works” operations in California.  While Lockheed has facilities throughout the state, most of the job growth and the $100 million in capital investments will take place in Palmdale, California.

“This award of the California Competes Tax Credit ensures new aircraft development jobs for California to drive continued aviation innovation in the state.  Lockheed Martin Skunk Works®  appreciates this partnership to create a competitive business environment which will enable our 75-year legacy of creating history-making aircraft here in California to continue,” said Melani Austin, Vice President Skunk Works Palmdale Operations, Lockheed Martin.

“As Chairman of the Assembly Select Committee on Aerospace, I have been working with Lockheed Martin to get them to continue to invest in California and create local jobs,” said Assemblymember Al Muratsuchi. “With this award from the California Competes Tax Credit program, Lockheed will retain and grow over 2,800 good-paying jobs for Californians and generate $100 million in investments. I thank Governor Brown and his Office of Business and Economic Development for this major award and for working with me to continue California’s national and global leadership in the aerospace industry.”

In 2013, Governor Brown created the California Competes Tax Credit to focus on helping businesses grow and stay in California.  Governor Brown signed legislation in 2018 that extended the program for an additional five years with at least $180 million in tax credits available for allocation to business each year through 2023. Since 2014, GO-Biz has allocated $829 million to 974 companies projected to create 95,139 new jobs and make $17.9 billion in new investments.

The next application period begins on January 2, 2019 with $75 million in tax credits available.

About the California Competes Tax Credit
The California Competes Tax Credit is part of the Governor’s Economic Development Initiative (GEDI) which Governor Brown signed legislation to enact in 2013 (AB 93 and SB 90). 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.

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development 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.

Contact Information
Address:
1325 J Street, Suite 1800
Sacramento, CA 95818
Phone: 1-877-345-4633
Email Us

Explore more articles by category:  GO-Biz News  |  CalOSBA News  |  Press Releases |  Opinion Editorials