SCVEDC Blog

Adept Fasteners expands to their new home in Valencia Commerce Center

SCVEDC's recent case study about Adept Fasteners provides a look at the company's objectives and space needs. The case study illustrates their reasoning behind the decision to expand their operations in the Santa Clarita Valley by designing a custom layout facility. Adept Fasteners provides engineering fastener solutions for the global aerospace and defense industry. The company offers customized inventory solutions supported by technology to meet customers' production needs and delivery times. Adept is an approved supplier for top names in the industry, including Lockheed Martin, Boeing, Northrup Grumman, Raytheon Technologies, and more.

As we celebrate the City of Santa Clarita's nomination once again as a business-friendly city by the Los Angeles Economic Development Corporation, it's a good time to reflect on what makes the Santa Clarita Valley so business friendly.

City of Santa Clarita among 10 finalists for this year's "Most Business Friendly City" Award

It's been another banner year for Santa Clarita in terms of achievements and growth. Through a lot of hard work and collaboration, the citizens and businesses of SCV have really risen to meet the challenges of the last 18 months. As we heard from economist Dr. Mark Schniepp at our Economic Outlook Forecast, Santa Clarita is well on its way in terms of recovery. One of the biggest factors in growth and economic recovery is for your businesses to thrive. The City of Santa Clarita has once again been named as a finalist in the Los Angeles Economic Development Corporation's (LAEDC) award for "Most Business Friendly City" in LA County. As Los Angeles County's third largest city, Santa Clarita continues its commitment to maintain a healthy business environment for current and future companies, proactively promoting business-friendly programs and services--a critical factor in job creation. With award criteria including prioritizing and supporting business recovery, reinvention, growth and hiring throughout the COVID-19 pandemic, it's no surprise that we made the short list.

In a smart move to keep California’s signature industry thriving in-state, legislators earlier this month voted to increase both film and television tax incentives by another $330 million. The new bill was signed into law on July 22 by Governor Newsom, and has two primary features. The currently available  $330 million is being bolstered with an additional $180 million, bringing the annual film tax incentive program total to $410 million. The entirely new component now adds $150 million, allocated towards the construction of soundstages in an effort to meet the ever-growing demand for these studio facilities. These changes could prove vital to meet California's film and television needs, stop production jobs from leaving the state, and potentially coax studios to return that had jumped ship for more enticing offers in other states.

Complete List of Upcoming Webinars 

July 28th, 2021

Details and Registration

August 5th, 2021

Details and Registration

August 10th, 2021

Details and Registration

DrinkPAK Brings 275 Jobs to the SCV Over the Next Four Years

SCVEDC's recent case study about DrinkPAK provides a look at the company's objectives and space needs. The case study illustrates their reasoning behind the decision to relocate to the Santa Clarita Valley and the company’s further expansion. DrinkPAK, the premier West Coast alcoholic and non-alcoholic beverage manufacturer, currently occupies 572,419 SF at the Center at Needham Ranch Industrial Park. Through its high efficiency production lines, this location houses procurement support, complex batching and processing, filling, packaging, and on-site storage and distribution.

Celebrating Economic Development Month

GO-Biz Hosting Webinars for Businesses Interested in Applying for
 $80 Million in Tax Credits

Have you heard about the California Competes Tax Credit? It’s a state income tax credit supporting growth of high quality jobs in California, available to businesses who want to come to, stay in, or grow in our state. Through a two-phase process, businesses apply and compete for this credit during three application periods each fiscal year.

The City of Santa Clarita and SCVEDC Award Local Small Businesses with COVID Relief Grants

The City of Santa Clarita and Santa Clarita Valley Economic Development Corporation (SCVEDC) are excited to announce that 149 small businesses within the Santa Clarita Valley were approved to receive a one-time financial reimbursement for COVID-related expenses of up to $5,000 per individual business, as a part of the Santa Clarita Small Business COVID Relief Grant.

Interested applicants began receiving their approval or denial letters beginning on Thursday, November 19. Verified eligible businesses that have met all specified grant qualifications and requirements can expect to receive grant funds by the end of the year.

Filming is Back in the Santa Clarita Valley 

Hollywood North has become a common moniker of the Santa Clarita Valley in reference to the large amount of filming that takes place here. And it’s true – there are many TV shows, feature films, music videos and commercials shot in our region. After an industry-wide shutdown affecting film and television productions and thousands of workers due to the COVID-19 pandemic, filming is finally back, and SCV sound stages are filling up quickly. 

SCVEDC is Your One-Stop Resource for Business Needs 

The Santa Clarita Valley Economic Development Corporation’s (SCVEDC) overarching goals are to support the creation of high-paying jobs for our trained workforce, stimulate economic activity that grows the regional tax base, and strategically position the Santa Clarita Valley (SCV) and its businesses to better compete in the global economy. SCVEDC offers many services and resources to local businesses to help the access tax credits and incentives, workforce development and training, provides vital data and information, and connects companies for networking and peer support. 

City Council Approves 2020 SCV Small Business COVID Relief Grant Program; SCVEDC Key Partner

Applications are open now through Wednesday, October 28, 2020 at 5:00 p.m.

The City of Santa Clarita is thrilled to announce that the City Council has approved the Santa Clarita Small Business COVID Relief Grant program to help local small businesses impacted by COVID-19. Approval was given during the October 13 City Council meeting. SCVEDC is partnering with the City in order to allow companies across the SCV to apply.

California Competes Tax Credit Application Starts July 27

Have you heard about the California Competes Tax Credit (CCTC)? It’s a state income tax credit supporting growth of high quality jobs in California, available to businesses who want to come to, stay in, or grow in our state. Through a two-phase process, businesses apply and compete for this credit during three application periods each fiscal year.

Each year, more than 12 billion dollars in Research & Development Tax Credits are funneled back to US businesses, and this is for the federal program alone.

California Association for Local Economic Development (CALED) announced the roster of winners in economic development at its 36^th Annual Conference in San Francisco, and the Santa Clarita Valley Economic Development Corporation (SCVEDC) won two awards in two of the three categories.

SCVEDC awarded Richard Photo Lab an Industry Cluster Attraction Incentive (ICAI) of $23,694 today. Richard Photo Lab relocated to the Santa Clarita Valley in 2015. As a company in the Digital Media & Entertainment cluster, the company was eligible for the incentive.

The Governor’s Office of Business and Economic Development (GO-Biz) announced that it is now accepting applications for the California Competes Tax Credit (CCTC). Growing companies in the Santa Clarita Valley are encouraged to apply.

I hear it every day – CA is a tough place to do business. Some would say the worst. Sometimes I think we just believe the stories and reputation without thinking about it analytically.

Data tells another story, or at least adds more perspective and insight than the oft-quoted soundbite.

Last week, the Santa Clarita Valley Economic Development Corporation (SCVEDC) announced that Logix Federal Credit Union will be moving its headquarters to the Santa Clarita Valley.

Does your business pay Use Tax? If so you may be eligible to direct a large portion of your Use Tax back to Santa Clarita’s general fund for public safety, parks, libraries, infrastructure and other City services and receive a cash rebate on a portion of the Use Tax remitted to the City.