SACRAMENTO – Assemblymember Cheryl Brown (D-San Bernardino), announced today that $150,000 in tax credits was awarded to C.B. Nichols Egg Ranch in Colton and $480,000 in tax credits was awarded to Mulhauser Steel in Bloomington. These companies qualified for these tax credits through the California Competes Tax Credit program.
“C.B. Nichols Egg Ranch and Mulhauser Steel collectively invested $20 million in the 47th Assembly District and I am extremely happy that GO-Biz has rewarded their contribution to California’s economy,” Assemblymember Brown said.
In addition to the tax credits for job creation, the new program offers sales tax relief on the purchase of research and development equipment for life sciences and manufacturing equipment. The amount of credits available will increase each year until 2018. Twenty-five percent of the credits are reserved for small businesses. Businesses interested in the program can apply through the Governor’s Office of Business and Economic Development (Go-Biz).
“It is extremely important that California continues to improve its business environment by helping small businesses that are willing to invest in our communities,” Assemblymember Brown concluded.