CALIFORNIA’S INVESTMENT BOOM: NEW ROUND OF STATE FUNDING TO GENERATE $15.5 BILLION IN NEW INVESTMENTS, 2,100 NEW JOBSWHAT YOU NEED TO KNOW: From building a sustainable lithium production campus to constructing California’s first steel mill in over 50 years, the state is investing $120 million in innovative businesses and creating thousands of new jobs.
SACRAMENTO – As part of the California Jobs First initiative, Governor Gavin Newsom today announced that the state has awarded $120 million in tax credits to eight innovative companies. It will generate more than 2,100 full-time jobs with an average annual salary of over $100,000 and bring in an estimated $15.5 billion in private investment over the next five years. WHAT GOVERNOR NEWSOM SAID: “California’s economy is the fifth largest in the world and we’re supporting workers and businesses as they reach success. This funding will help businesses create good-paying jobs — from steel manufacturing in Kern County to sustainable lithium production in Imperial Valley — and support the state’s economic dominance for years to come.” The funding, from the Governor’s Office of Business and Economic Development’s (GO-Biz) California Competes program, is going to companies expanding their operations in California and supporting the type of cutting-edge industries that are the hallmark of the Golden State. “California Competes continues to be a critical program within the California Jobs First portfolio that attracts and retains businesses, who in turn create family-supporting jobs and economic opportunity for workers across our state,” said Dee Dee Myers, Senior Advisor to Governor Newsom and Director of GO-Biz. “We’re excited to build on the success of this program, investing in companies that are building the industries of today and tomorrow.” |
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