Inland business get tax credits

By on June 25, 2014
Inland Empire News for March 1-3.002

Some Inland Empire businesses will receive tax breaks from the state of California in exchange for hiring more workers.

The California Competes Tax Credit Committee has approved nearly $29 million in tax credits for local businesses, part of a program started last year after Gov. Jerry Brown eliminated the state’s Enterprise Zone Program in a cost-cutting move, according to a report in The Press-Enterprise., which operates a one million square foot fulfillment center in San Bernardino and is developing a similar facility in Moreno Valley, will receive a $1.5 million tax credit, the fourth-highest of any credit awarded, according to the report.

I-Herb, which operates a warehouse-distribution center in Moreno Valley, will receive an $815,000 tax credit based on its plans to add 150 employees, while Decker Outdoor Corp. will add 125 people at its Moreno Valley and Goleta facilities with its $800,000 tax break, according to the report.

BST NanoCarbon, which has facilities in Temecula and San Diego, Lynam Industries in Fontana and CTP Transportation Products in Ontario are also scheduled to receive tax breaks from the credit committee in exchange for adding employees, according to the report.