L.A. Companies Receive State Tax Credits for Job Creation

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Sixteen companies headquartered or with facilities in Los Angeles County have been awarded state tax credits for plans to expand and create jobs, the Governor’s Office of Business and Economic Development announced Tuesday.

The tax credits, awarded by the California Competes Tax Credit Committee, range in size from $30,000 to $4 million. They are part of a larger package of $223 million in tax credits awarded to 89 companies with facilities throughout the state. These companies have announced plans to create a total of 7,164 additional jobs and generate more than $600 million in investment.

“The California Competes tax credit further demonstrates California’s ability to identify high quality companies and encourage them to expand in the state,” said committee chair Mike Rossi, who is also senior jobs adviser to Gov. Jerry Brown.

Six of the 16 companies with facilities in Los Angeles County received tax credits of at least $250,000. They are, in descending order:

• Steel reinforcement supplier Pacific Steel Group of Auckland, New Zealand, which received $4 million for three facilities statewide including one in Los Angeles;

• Healthcare IT firm Cerner Corp. of Kansas City, which received$1.5 million for three facilities statewide, including one in Los Angeles;

• Recycled packaging maker Planet Earth Los Angeles which received $875,000 for its Vernon facility;

• Electronic payments provider Boom! Payments Inc. of Pasadena, which received $500,000 for its El Segundo facility;

• Custom lighting supplier DMF Lighting of Carson, which received $275,000; and

• Wedding gown designer Katie May, of Los Angeles, which received $250,000.

The California Competes tax credit program is the successor to the state’s now-dismantled enterprise zone program, which had come under fire for awarding tax credits to companies that either didn’t hire new employees or otherwise gamed the system.

For a complete list of the tax credit recipients, click here.

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Howard Fine
Howard Fine is a 23-year veteran of the Los Angeles Business Journal. He covers stories pertaining to healthcare, biomedicine, energy, engineering, construction, and infrastructure. He has won several awards, including Best Body of Work for a single reporter from the Alliance of Area Business Publishers and Distinguished Journalist of the Year from the Society of Professional Journalists.

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