SACRAMENTO –
A bill to boost job growth for new manufacturing businesses in
California passed with bipartisan support yesterday in the Assembly
Committee on Revenue & Taxation.
AB
1530, which is joint-authored by Assemblymembers Jared Huffman (D-San
Rafael) and Kristin Olsen (R-Modesto), creates Clean Manufacturing Zones
around the state to attract new manufacturing businesses to California
and encourages existing businesses to stay and grow, by eliminating
regulatory delays and providing tax incentives to buy new manufacturing
equipment and locate here in California.
AB
1530 allows cities and counties to designate an appropriate space as a
Clean Manufacturing Zone, secure the permits and approvals in advance,
and then attract manufacturing businesses with the promise of
pre-approved permits and the added incentive of a property tax exemption
on new equipment.
“The
manufacturing industry is vital to California’s economic recovery,
providing high-wage jobs for skilled workers, and stimulating growth in
other sectors of the economy,” said Huffman. “By pre-permitting in these
zones, and eliminating the tax on new manufacturing equipment, we help
address delay, uncertainty and cost issues in a way that will attract
quality manufacturing jobs, without sacrificing any of our environmental
protections.”
“California
is in desperate need of new jobs, particularly in my district where
unemployment is over 17 percent,” said Olsen. “AB 1530 gives local
governments another tool to attract manufacturing jobs to California.
I’m thrilled with the bipartisan support and hope both sides can
continue to promote job creation legislation.”
