Skip to main content

GO-Biz Approves $70M in Tax Credits for 103 Companies Adding Over 9,300 Jobs in California

For immediate release:

Local businesses represent a net increase of about 2,100 full time employees

CARSON, Calif – Building upon California’s nation leading job creation, 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 103 companies expanding and creating jobs in California. The awards will help these companies create a projected 9,369 jobs and generate over $1.3 billion in investment across California. 

“This is exciting news for businesses and potential employees in the 64th Assembly District,” said Assemblymember Mike A. Gipson (D-Carson). “These awards represent a net increase of about 2,100 full time jobs in our District. Their success and employment opportunities will touch the lives of local individuals, families and communities.”

64th Assembly District businesses include Faraday & Future, Inc. (Gardena, Rancho Dominguez); Standard Homeopathic Company (Los Angeles); R.I.M. Logistics Ltd. (Carson); Southwestern Industries, Inc. (Rancho Dominguez); and Wilmington Instrument Co. (Wilmington).

The California Competes Tax Credit was created by Governor Brown and is focused on helping businesses grow and stay in California. Last fiscal year, GO-Biz allocated approximately $150 million to 212 companies that are projected to create over 35,000 jobs and make over $9.1 billion in investments. This fiscal year, GO-Biz is awarding $200 million in tax credits through three award rounds.

Mike A. Gipson represents the 64th Assembly District. The district includes the cities and communities of Carson, Compton, Gardena, Harbor Gateway, Lynwood, North Long Beach, Rancho Dominguez, South Los Angeles, Torrance, Watts/Willowbrook and Wilmington.