Apr 23, 2015 7:49 PM
Roplast Industries and SMB Industries/Metal Works were approved for California State Tax Credits of nearly $350,000. The credits are spread over a period of five years and tied to achievement of hiring and investment milestones set forth in their agreements with the state. The companies join Oroville's Graphic Packaging International's three California facilities, which was awarded tax credits during the first round of applications in 2014 creating 138 new jobs and investments over $54 million.
Administered by the Governor's Office of Business and Economic Development (GO-Biz) California Competes is a competitive process in which applicants are selected based on their projected economic benefit; particularly through new jobs and investment.
Companies apply for the credit during one of the open application periods throughout the year. Roplast and SMB initially applied in early February 2015. In that round GO-Biz received 253 applications and recommended 67 companies and 27 small businesses for tax credits. The final awards were approved April 16 by the five-member California Competes Tax Credit (CCTC) committee led by Michael Rossi, Senior Advisor to the Governor.
Dahlmeier said, "These two companies are projected to create 92 new jobs in Oroville over the next five years, not including the continual growth of Graphic Packaging. This tax credit enables them to send less money to the state and instead spend it on people and equipment right here in Oroville."
Roplast produces reusable grocery bags and SMB Industries, operating as Metal Works, does steel fabrication and produces metal products. Both companies have organically grow in Oroville to significant economic generators for the City and global companies. Both applications, as well as GPI, were supported by the City of Oroville, OEDCo, County of Butte, PG&E, Assemblyman Gallagher, Senator Nielsen and the California Manufacturer's & Technology Association.
The next round of applications is expected to open in July 2015. For more information contact Rick Farley, City of Oroville, 530-538-2539 or Audrey Taylor, Chabin Concepts, 530-345-0364 ext 27.