California tax credits aimed at boosting jobs in Central Valley

November 18, 2016

 

SACRAMENTO — The Governor’s Office of Business and Economic Development (GO-Biz) announced that it had selected 74 companies to receive more than $60 million in tax credits.

Two of those companies have local expansion plans. Ulta Inc., a Delaware base retailer of beauty supplies, will receive $8 million to hire full-time employees, and invest in computer equipment, tenant improvements, furniture and fixtures and a facility as part of its expansion in the Central Valley.

The company employees more than 542 people nationwide and has spent more than $48 million in improving its online order fulfillment and warehouse and retail distribution facilities.

Bell Brother’s Heating and Air will get $595,000 in tax credits to hire full-time employees and invest in office space, vehicle accessories, vehicles, furniture and fixtures and computer equipment as part of its expansion in Manteca, Auburn, Elk Grove, Fairfield and Mather. The credits will be part of a $3.3 million investment by the company to expand its 98-employee operation.

Statewide, these tax credits are expected to help create 6,568 jobs and generate more than $670 million in investment in California. GO-Biz is allocating approximately $243 million in total tax credits this year.

“The California Competes tax credit continues to help businesses expand their presence in California and provide high quality jobs,” said GO-Biz director and committee chair Panorea Avdis. “The program has been recognized as a national model because we strive to make it flexible, transparent and effective at spurring new investments and accelerating job growth.”

Leave a Reply

Your email address will not be published. Required fields are marked *