February 24, 2024
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5 tri-county companies get $545,000 in tax credits for creating jobs


Five tri-county companies are among 103 statewide approved for tax credits for creating new jobs by the California Competes Tax Credit committee April 14.

The tri-county companies will get a combined $545,560 and the total $70 million awarded will help companies across California create a projected 9,369 jobs and generate over $1.3 billion in investment.

The Governor’s Office of Business and Economic Development announced the following tax credits to tri-county companies:

  • Insurance agency and broker Freedom Insurance Services — $210,560 to create 36 jobs in San Luis Obispo.
  • Portable food preservation device manufacturer PackIt LLC — $150,000 to create 19 jobs in Westlake Village.
  • General contractor C.D. Lyon — $70,000 to create 19 jobs in Santa Maria and Ventura.
  • Tool manufacturer Western Saw Manufacturers — $70,000 to create 13 jobs in Oxnard.
  • Audio speaker manufacturer L-Acoustics — $45,000 to create nine jobs in Camarillo and Thousand Oaks.

The California Competes Tax Credit was created by Gov. Jerry Brown to help businesses grow and stay in California. Applicants can apply for awards by completing an application available at www.calcompetes.ca.gov.

• Contact Glenn Rabinowitz at grabinowitz@pacbiztimes.com.