San Bernardino Co. Receives $20M in Tax Credits

Nearly $20.2 million in California Competes Tax Credits were awarded to San Bernardino County firms that are committed to creating full-time quality jobs in California. The California Competes Tax Credit is an income tax credit available to businesses that want to locate or stay and grow in California.

The purpose of the credit is to attract and retain high-value employers in California in industries with high economic potential that provide employees good wages and benefits.

The Governor’s Office of Business and Economic Development (GO-Biz) awarded a total of $150 million in tax credits that are projected to create more than 7,600 new full-time jobs in California. The funding from the California Competes Tax Credit program will bring more than $1.2 billion in new investments across the state in the next five years.

San Bernardino County companies recognized by the California Competes Tax Credit committee include:

• MP Materials Corp. located in Mountain Pass was awarded a tax credit of $14.8 million
• Diamond Wipes International Inc. located in Chino was awarded a tax credit of $3.2 million
• Rexnord Industries LLC located in Ontario was awarded a tax credit of $1.2 million