Assemblyman’s Aerospace Tax Credit Bill Signed

Posted by: KHTS FM 98.1 & AM 1220 in Politics July 15, 2014 - 4:42 pm 0 143 Views

Assembly Bill 2389, a measure to create and retain aerospace industry jobs in California, was signed into law by Gov. Jerry Brown.

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“We have been focusing on economic recovery and job creation,” said the bill’s author, Assemblyman Steve Fox, D-Palmdale. “This tax credit will help California gain and retain high-paying jobs for our people.”

AB 2389 will directly create 1,100 aerospace jobs in California, and will indirectly create 4,782 jobs in supporting fields.

Fox, working in collaboration with the Governor’s Office of Business Development, Assembly Speaker Toni G. Atkins (D-San Diego), and the aerospace industry developed this credit to specifically help aerospace companies currently bidding on Federal Department of Defense projects.

“California is open for business,” said Fox. “The success of aerospace companies will spill over to supporting industries, and help to pull our state out of the Great Recession completely.”

Assembly District 36 is home to Plant 42, the Mojave Air and Space Port, Edwards Air Force Base, NASA Armstrong Flight Research Center, Lockheed Martin, Boeing, Northrop Grumman, Space X, Virgin Galactic, and hundreds of other aerospace companies.

Lockheed Martin and Northrop Grumman are the two largest private employers in the district.

“California is open for business,” said Fox. “The success of aerospace companies will spill over to supporting industries, and help to pull our state out of the Great Recession completely.”

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