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The Big Picture San Diego Blog

economic incentives

June 19, 2014

BST Nano Carbon's Rancho Bernardo HQ


More than 1,000 jobs are coming to San Diego and Imperial Counties thanks to California Competes, a new discretionary economic incentive that are part of the Governor’s Office of Business and Economic Development’s efforts to encourage job creation and economic development throughout the state.

“The California Competes tax credit encourages businesses, large and small, to expand in California and create good paying jobs in a variety of industries,” said GO-Biz Director Kish Rajan.

San Diego and Imperial County companies also received more than 65 percent - $4.83 million  of the $7.37 million allocated for small businesses - under the program meaning that the region raked in more small business credits than any other area in the state combined.

other area in the state combined.

In total, one Imperial County and four San Diego companies were approved for the economic incentives, which are collectively valued at $7.43 million. According to documents filed by the respective companies, the incentives are expected to create 1,144 jobs. San Diego’s diverse industries, including military, maritime, biotech and advanced manufacturing, are well-represented in the credit recipients.

“The companies selected for California Competes are indicative of the diverse industries that make up San Diego’s economy,” said Mark Cafferty, president & CEO of San Diego Regional EDC. “We frequently hear that businesses choose San Diego because of its talented workforce and its dynamic innovation ecosystem. We believe that GO-BIZ’s California Competes program will give more companies a reason to grow and expand within our region.”

A chart below lists recipient details:




Tax Credit


San Diego



BST Nano Carbon

San Diego







American Marine Abatement Services

National City



CE&P Imperial Valley

Brawley (IV)







In an effort to bolster economic development efforts throughout the San Diego/Imperial Regional, San Diego Regional EDC (EDC) outreached to companies and shepherded many through the application process. In 2013, EDC collaborated with GO-BIZ to host two free workshops to educate businesses about the process.

BST Nano Carbon, an advanced manufacturer based in Rancho Bernardo, was one company EDC helped with the application process. The innovator, who works with companies across industries ranging from sporting goods to medical devices and military, will use the funds to create 632 high-paying jobs in San Diego and Temecula.

 “BST Nano Carbon is proud to call San Diego home. Not only do our employees enjoy living here, but strategically, the San Diego area provides access to a skilled workforce and the diverse range of leading companies that represent the industries we serve,” said Randy M. Beck, CEO at BST Nano Carbon. “GO-BIZ has given us another reason we’re proud to be a California-based nano materials manufacturing company. With their assistance, we plan to bring more than 600 jobs to the San Diego area over the next five years.”

Statewide, 31 companies will be receiving the first allocation of California Competes tax credits totaling $30 million. The funds will increase to $150 million during the 2014/2015 fiscal year.

The California Competes tax credit is part of the Governor’s Economic Development Initiative (GEDI) which Governor Brown signed legislation to enact last year (AB 93 and SB 90). The initiative also includes a hiring credit for areas of high unemployment and poverty which went into effect on January 1st, 2014 and a sales and use tax exemption for the purchase of manufacturing, biotech and R&D equipment which is available to companies starting July 1st, 2014.

Companies interested in learning more about the credits are welcome to contact San Diego Regional EDC for assistance. EDC does not charge for these services.