San Bernardino County businesses receive $20 million in tax credits from State

Six San Bernardino County businesses received nearly $20.2 million in California Competes Tax Credits in the last cycle by the Governor’s Office of Business and Economic Development (GO-Biz).

The California Competes Tax Credit is an income tax credit available to businesses that want to locate in California or stay and grow in California. The purpose of the California Competes Tax Credit is to attract and retain high-value employers in California in industries with high economic potential that provide their employees good wages and benefits.

The companies to receive funding include:

• MP Materials Corp. located in Mountain Pass was awarded a tax credit of $14.8 million.
• Diamond Wipes International, Inc. located in Chino was awarded a tax credit of $3.2 million.
• Rexnord Industries LLC located in Ontario was awarded a tax credit of $1.2 million.
• Mainstream Tours, Inc. located in San Bernardino was awarded a tax credit of $500,000.
• TPG Payroll & HR Services, Inc. located in Rancho Cucamonga was awarded a tax credit of $250,000.
• Daylight Transport LLC located in Fontana was awarded a tax credit of $250,000.

“These San Bernardino County companies demonstrate the best of what our County’s business community has to offer. We commend them for their commitment to grow and reinvest in the region,” said Board of Supervisors Chairman Curt Hagman. “The County is committed to helping businesses to grow and thrive.”

The next application period will start on January 3, 2022, with $120 million available.  Applications must be submitted by Monday, January 24, at 11:59 p.m.  The online application can be accessed at www.calcompetes.ca.gov.