{"id":80617,"date":"2026-05-06T23:14:47","date_gmt":"2026-05-07T06:14:47","guid":{"rendered":"https:\/\/lapost.us\/?p=80617"},"modified":"2026-05-06T23:14:47","modified_gmt":"2026-05-07T06:14:47","slug":"governor-newsom-announces-1b-in-private-investment-generated-through-california-competes-tax-credits-click-to-teach-gmail-this-conversation-is-important","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=80617","title":{"rendered":"Governor Newsom announces $1B in private investment generated through California Competes Tax Credits Click to teach Gmail this conversation is important"},"content":{"rendered":"\n\n\n
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What you need to know:\u00a0<\/strong>As part of the\u00a0California Jobs First initiative<\/a>, the state is awarding California Competes Tax Credits to 17 companies to support business expansion across aerospace & defense, high-tech, clean economy, manufacturing and creative economy sectors. These investments are expected to generate $1 billion in private investment and create nearly 4,500 new jobs across the state.<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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SACRAMENTO \u2013\u00a0<\/strong>Governor Gavin Newsom today announced the Governor\u2019s Office of Business and Economic Development (GO-Biz) awarded\u00a0California Competes Tax Credits<\/a>\u00a0(CalCompetes) to 17 innovative companies across the Golden State. The awards will support the creation of 4,489 new jobs, with an average weighted annual salary of $132,218, and generate $1 billion in new private investment in communities up and down the state.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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\u201cThrough programs like CalCompetes, we\u2019re going all in on the industries shaping the future of our economy and our country. We\u2019re investing in the sectors that drive California\u2019s growth, creating good-paying jobs, spurring innovation, and expanding opportunities for residents across the state.\u201d<\/h4>\n

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Governor Gavin Newsom<\/strong><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Awardees span a range of the\u00a0California Jobs First Economic Blueprint\u2019s<\/a>\u00a0\u201cstrengthen<\/a>\u201d and \u201caccelerate<\/a>\u201d sectors, including aerospace & defense, high-tech, clean economy, manufacturing and creative economy, reinforcing the state\u2019s commitment to business expansion and job creation in the industries critical to California\u2019s economic future.<\/p>\n

\nAerospace & Defense<\/strong><\/h2>\n

California is the #1 state for aerospace manufacturing and home to one third of all US space tech companies. Continued investment in this sector ensures the state\u2019s leadership in talent, infrastructure and public-private partnerships. Awarded companies in this sector include:<\/p>\n

\"\ud83d\ude80\"Mach Industries<\/a>\u00a0<\/strong>is investing $32.5 millon to expand its defense technology manufacturing and research & development in Huntington Beach, Los Angeles and San Francisco, creating 1,057 jobs.<\/p>\n

\"\ud83d\ude80\"Apex Technology, Inc.<\/a>\u00a0<\/strong>is investing $165.5 million to expand its satellite manufacturing presence in Los Angeles and the broader Southern California region, creating 483 jobs.<\/p>\n

\"\ud83d\ude80\"Voyager Technology Inc.<\/a>\u00a0<\/strong>is investing $75 million to expand its Long Beach aerospace component manufacturing facility, creating 152 jobs.<\/p>\n

\"\ud83d\ude80\"Lanteris Space LLC<\/a><\/strong>\u00a0is investing $16 million and creating 70 jobs to expand its satellite manufacturing facility in San Jose.<\/p>\n

\nClean Economy<\/strong><\/h2>\n

As energy demand grows, California is accelerating its transition to a clean economy by investing in companies advancing decarbonization and energy innovation. Awardees from the clean economy sector include:<\/p>\n

\"\ud83c\udf0d\"MP Materials Corp.<\/a>\u00a0<\/strong>will expand its Mountain Pass rare earth mining and recycling facility to recycle rare earth minerals from retired electronic devices, creating 119 jobs with a $120 million investment.<\/p>\n

\"\ud83c\udf0d\"Peak Energy Technology, Inc.<\/a><\/strong>\u00a0is expanding in Sacramento and Burlingame, investing $71 million and creating 348 jobs to support its sodium-ion battery storage system manufacturing facility.<\/p>\n

\"\ud83c\udf0d\"Harbinger Motors Inc.<\/a><\/strong>\u00a0is creating 343 jobs in Garden Grove and Cypress with a $140 million investment to establish a battery manufacturing facility for use in its electric truck customizable chassis.<\/p>\n

\"\ud83c\udf0d\"Radiant Industries, Inc.<\/a>\u00a0<\/strong>is investing $42.5 million to expand its portable power generator manufacturing headquarters in El Segundo, creating 254 jobs.<\/p>\n

\nCreative Economy<\/strong><\/h2>\n

By continuing to invest in the creative economy, the state remains committed to its growth and innovation, ensuring that California remains a global leader in the sector. The awarded creative economy company is:<\/p>\n

\"\ud83c\udfac\"Entropico Inc.<\/a>\u00a0<\/strong>is investing $8 million to expand its film production services in Los Angeles.<\/p>\n

\nHigh-Tech<\/strong><\/h2>\n

Home to more than 2,000 semiconductor businesses employing 47,000 workers, California continues to advance the future of innovation and ensure long-term success in this sector. The awarded high-tech company is:<\/p>\n

\"\u26a1\"Samsung Semiconductor, Inc.<\/a>\u00a0<\/strong>is scaling its San Jose semiconductor manufacturing & research and development with a $79.5 million investment, creating 400 jobs.<\/p>\n

\nManufacturing<\/strong><\/h2>\n

With\u00a01.2 million workers,<\/a>\u00a0California is home to the largest manufacturing workforce in the nation. From mass-market production to advanced manufacturing, the state is building on its strengths to support many of the strategic sectors. Awardees in the manufacturing sector include:<\/p>\n

\"\u2699\ufe0f\"Heron Power Electronics Company<\/a><\/strong>\u00a0is expanding its electrical grid component manufacturing workforce by 601 in Morgan Hill and Scotts Valley with a $140.9 million investment.<\/p>\n

\"\u2699\ufe0f\"S&E Gourmet Cuts, Inc.<\/strong>\u00a0is expanding their food manufacturing in Vernon and San Bernardino, creating 338 jobs with a $30 million investment.<\/p>\n

\"\u2699\ufe0f\"R. Torre & Company Inc.\u00a0<\/strong>is creating 151 jobs in San Leandro, investing $67.7 million to expand its beverage manufacturing facility.<\/p>\n

\"\u2699\ufe0f\"Glid Technologies Corporation<\/a>\u00a0<\/strong>is investing $11.9 million in heavy freight technology manufacturing facilities in Riverside and Auberry.<\/p>\n

\"\u2699\ufe0f\"NMI Industrial Holdings, Inc.<\/a><\/strong>\u00a0is investing $2.8 million to expand its metal product fabrication facilities in Los Angeles and Sacramento.<\/p>\n

\"\u2699\ufe0f\"AB Medical Technologies Inc.<\/a>\u00a0<\/strong>is expanding medical device manufacturing facilities in Redding and Santa Clara with a $2 million investment.<\/p>\n

\"\u2699\ufe0f\"California Nutritional Products, Inc.<\/a>\u00a0<\/strong>is expanding its cereal manufacturing facility in Mecca with a $1.4 million investment.<\/p>\n

To date,\u00a0CalCompetes<\/a>\u00a0has awarded tax credits to more than 1,200 businesses committed to creating nearly 169,000 full-time jobs based in California and generating over $54 billion in private investment in the state.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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See the full awards details here<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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California Jobs First: A bold plan, realized locally<\/strong><\/h2>\n

Last February, Governor Newsom\u00a0released<\/a>\u00a0the California Jobs First Economic Blueprint \u2013 a new economic vision for California\u2019s future. The Blueprint, which is being implemented by the nine state agencies on the California Jobs First Council, outlines key initiatives to support regional growth, invest in 21st century job training, create an attractive environment for job creators and strengthen California\u2019s innovation economy \u2013 all to help increase access to good-paying jobs for Californians.<\/p>\n

Through the\u00a0California Jobs First initiative<\/a>, nearly $1.6 billion in investment was generated in 2025, training over 142,000 workers and helping to create more than 61,000 new jobs. By accelerating economic growth and investing in regional strategies, the Golden State remains committed to expanding access to good-paying jobs for all Californians.<\/p>\n

California\u2019s economic leadership<\/strong><\/h2>\n

California is not only a national economic powerhouse \u2013 it is helping\u00a0shape the global economy<\/a>. Since 2019, the state\u2019s GDP has grown by $1.182 trillion, outperforming all other states and developed nations. In the fourth quarter of last year, California posted the largest dollar GDP increase at $44.5 billion, more than Texas, New York, and Florida. With startups raising 62% of all U.S. venture capital funding in 2025 and more Fortune 500 companies than any other state, California\u2019s economy continues to be driven by innovation, talent, and opportunity.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

What you need to know:\u00a0As part...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,6],"tags":[],"class_list":["post-80617","post","type-post","status-publish","format-standard","hentry","category-business","category-ca-local"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/80617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=80617"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/80617\/revisions"}],"predecessor-version":[{"id":80618,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/80617\/revisions\/80618"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=80617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=80617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=80617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}