Five California Business Incentives You Need to Know Now!
California has so much to offer – from the beach to the mountains, deserts to farm fields, and a vast array of industries, there’s something for everyone to love. And in the area of business incentives, there are so many opportunities to take advantage of – here are just a few to explore!
J.E.M. F/X Commits to Santa Clarita with Expansion to New Facility
J.E.M. F/X, a member of Santa Clarita’s strong and rapidly growing Digital Media and Entertainment Cluster, is expanding to a new 26K SF facility. This innovative technology firm creates highly sophisticated special effects and pyrotechnics, utilizing AutoCAD and 3D rendering software.
UK-Based Aerospace Group Announces Expansion to SCV
Nasmyth Group, a world leader and global supplier of precision engineering solutions in the aerospace industry based in the United Kingdom, announced the opening of a new facility in the Santa Clarita Valley (SCV). The SCV is home to the Aerospace and Defense Coalition, which is approximately 80 companies strong. This new facility will significantly expand their footprint and ability to deliver metal surface treatments to aerospace and defense clients in SCV and the United States.
California Competes Tax Credit
Did you know about the California Competes Tax Credit? It’s an income tax credit available to businesses who want to come to, stay in, or grow in California. Through a two-phase process, businesses apply and compete for this credit during three application periods each year. It’s just one of the many business services the Santa Clarita Valley Economic Development Corporation (SCVEDC) supports in the Santa Clarita Valley, another great reason to explore relocating to the SCV.
SCV is a HOT location for business!
So far, 2017 has been a hot year for business in the Santa Clarita Valley (SCV)! The construction and completion of new industrial and commercial spaces such as IAC Commerce Center and Gateway V have provided relief to a very tight industrial real estate market, and word is getting out about the SCV’s business-friendly climate.
Facility Facts that Impact Your Bottom Line
Everyone is focused on improving profitability, whether by increasing sales or decreasing costs (or both!) But when looking for opportunities to improve the bottom line, businesses often neglect to evaluate the impact of their facilities. Here are five ways that your facilities can impact your bottom line:
Select LA Investment Summit 2017
On June 15th, The World Trade Center LA (WTCLA) hosted 350 attendees to the third annual Select LA Investment Summit. The event is focused on attracting Foreign Direct Investment (FDI) to the region – delivering job creation and economic opportunity to the Los Angeles area. Select LA Investment Summit showcased growing industries in Los Angeles (LA) County, including bioscience, aerospace, digital media and entertainment, tech, real estate and advanced transportation, to help inform investor choices regarding projects and investment opportunities.
America’s Job Center of California - a great resource for local companies and job seekers
SCVEDC knows that finding skilled workers is one of the toughest challenges facing businesses in today’s tight labor market. That’s why training and apprenticeship programs are so important. Companies are growing their own talent, but are tapping into resources such as community colleges and the workforce development boards that are part of the public workforce system. In the past year, new apprenticeship programs for the aerospace and logistics industries are helping employees advance their skills quickly.
Airbolt Industries - Home in the Santa Clarita Valley
One of the key industry clusters in the Santa Clarita Valley is Advanced Manufacturing, with businesses involved in the production of high-value added, technical, or capital-intensive goods requiring advanced inputs and manufacturing processes choosing the SCV. Airbolt Industries Inc. is one of the businesses who have relocated to the SCV – and this is their story.
Pharmavite Makes Long Term Commitment to Santa Clarita
Pharmavite LLC, the leading manufacturer of dietary supplements for more than 45 years, has renewed its commitment to the Santa Clarita Valley by entering into two new leases! To support the operations of its growing Nature Made® brand of vitamins and mineral supplements, the company has signed a new long-term lease for a 229,000 square feet distribution and warehouse facility in the Valencia Commerce Center. It also deepened its roots in the Santa Clarita Valley by renewing the lease for its existing packaging facility located on Witherspoon Pkwy. Both leases run through 2030.
LA Metro Commuting Incentive -- Easing the commuter burden from Antelope Valley to SCV
Conservative estimates suggest that upwards of 8,000 people commute from the Antelope Valley (AV) to the Santa Clarita Valley each day, whether for work or to attend College of the Canyons. However, there is no direct bus line that services these individuals to their workplace. In a recent survey conducted by the Santa Clarita Valley Economic Development Corporation (SCVEDC), 55% of these commuters are making the drive alone, which is both costly and adds to traffic congestion.
fDi Magazine named Santa Clarita a Small American City of the Future
fDi Magazine announced that Santa Clarita was named 4th in Foreign Direct Investment strategy among small cities in their American Cities of the Future Awards. Santa Clarita is well positioned for future growth and is attractive to foreign investors due to its economic stability and business-friendly community. Santa Clarita is a good place for foreign investors seeking long-term security and growth.
Adding to the vast range of business services already provided by the Santa Clarita Valley Economic Development Corporation (SCVEDC) are our efforts to establish the Santa Clarita Valley (SCV) as a thriving and expanding technology innovation hub.
SCVEDC Wins CALED Award for Business Assistance Program
The California Association for Local Economic Development (CALED), a state-wide, California professional economic development organization, announced the winners of their CALED Awards at their annual conference on March 22nd. The Santa Clarita Valley Economic Development Corporation (SCVEDC) is pleased to win an award of merit for our Business Assistance Visitation Program for 2016-2017, following an Award of Merit for our 40 for 40 incentive program for the 2015-2016 year.
SCVEDC 2016 Annual Report
2016 was another great year for the Santa Clarita Valley Economic Development Corporation (SCVEDC) and as a result, for the Santa Clarita Valley (SCV). With its focus on developing business in the SCV, the SCVEDC delivered again in 2016. Here are some of the highlights from the 2016 SCVEDC Annual Report:
Santa Clarita is ready for its close-up!
Did you know that the Santa Clarita Valley (SCV) has long been known as Hollywood’s backlot? Thanks to its close proximity to Hollywood and Los Angeles, its scenic backdrops, and filming incentive programs from the City, entertainment in the SCV has a long and storied history! All this vibrant television and film location filming added $33 million into the Santa Clarita economy last year. It’s the fourth consecutive year that the estimated economic impact generated from location filming has topped $30 million.
Last week, the Santa Clarita Valley Economic Development Corporation (SCVEDC) awarded its Industry Cluster Attraction Incentive to Scorpion, a leading Information Technology company in the Santa Clarita Valley. Scorpion is constructing a new Headquarters in the Santa Clarita Valley, with construction set to be completed later this year. The incentive reimburses Scorpion for permit fees incurred during the permitting process of up to $40,000, and is just one of the many SCV business services and resources provided by the SCVEDC.
The 2017 Santa Clarita Economic Outlook Conference
Each year, the Santa Clarita Valley Economic Development Corporation (SCVEDC) and College of the Canyons (COC) host the Spring release of the Santa Clarita Economic Outlook Forecast at the Santa Clarita Economic Outlook Conference. Mark Schniepp, Director of the California Economic Forecast, and Mark Vitner, Managing Director, Senior Economist at Wells Fargo, this year’s featured economists, will provide an in-depth forecast of our national and local economies, as well as discuss global megatrends. They will be joined by one more speaker (to be announced). This is the only event of this kind with information specific to the Santa Clarita Valley.
November is a time to give thanks and a time for reflection as we approach the year’s end. I find myself reflecting on, among other things, my appreciation for our local economy.
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.
