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State Awards $29 Mil In Tax Credits For Companies To Expand

Dinuba Firm, Imperial Valley Ethanol Plant Among The Awardees

Fresh Select LLC operation

Fresh Select LLC operation

Governor Brown’s replacement for the state Enterprise Zone program, an agency called called California Competes awarded $29 million in tax credits to to 31 companies in California this week. Some 200  companies asked more than $500 million although just $30 million was available to be spent this fiscal year. However next fiscal year that starts in July, the agency will have a budget of $150 million.

Among the awardees is Dinuba-based Fresh Select,LLC who proposes to increase full time employment over the next few years by 341 according to their application.  Their investment is just under $6 million in new equipment and facilities with an award by the state of $500,000 in tax credits.The company prepares fruit for global distribution. Specifically the company agreed to add  11 employees in2014, and that grows to  total of 33 in 2105, up to 77 in 2106,165 by 2017 and up to 341 by 2018.

Other Valley companies include Duarte Nursery in Hughson ,south of Modesto adding 33 employees and receiving a $250,000 tax credit. Also Modesto-based Flowers Bakery expects to add 121 employees and received a $300,000 tax credit.

The tax credits are overseen by the Governor’s GO-BIZ office
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From OPIS

California Ethanol and Power Gets $3.1 Million Tax Credit

Prospective ethanol producer California Ethanol and Power (CE&P) was approved this week for a tax credit of $3.1 million through the California Competes program.

CE&P is proposing to build the first sugarcane ethanol plant in the U.S. in Brawley, Calif. Previous statements from the company indicated the plant will have a capacity of 66 million gal/year, and it will begin operations in 2016.

According to an application filed with the state, CE&P plans to invest more than
$526 million on the plant, with the largest investment ($506 million) in tax year 2016. By 2018, the company says it will be providing an estimated 222 full- time-equivalent jobs.

Farmers in the Imperial Valley in California who have contracted with CE&P have been planting, with the goal of being able to harvest in a year, and then having five or six years of harvesting, CE&P CEO David Rubenstein told OPIS in December 2013. For the most part, the sugarcane will be planted in marginal fields that have been growing alfalfa and sudan grass, he added.

At a meeting on June 19, the California Competes Tax Credit Committee approved the 31 tax credits that have been recommended, including CE&P’s. Some $29 million in grants were approved to spur development and job creation in the state.

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