Saturday, December 20, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Brown extends tax credit to Northrop Grumman

By
From page A4 | August 16, 2014 |

SACRAMENTO — Gov. Jerry Brown has signed legislation that extends a $420 million state tax credit to aerospace giant Northrop Grumman Corp. after approving a similar deal for its competitor, Lockheed Martin Corp.

Brown’s office announced Friday that he signed SB718 by Sens. Richard Roth, D-Riverside, and Sen. Stephen Knight, R-Palmdale. It expands an aerospace tax credit that lawmakers approved in July for Lockheed Martin so it also applies to Northrop Grumman.

Both companies have facilities near Palmdale and are bidding for a $55 billion Pentagon stealth bomber contract.

Northrop Grumman said it would create 1,500 new jobs in Palmdale under the massive bomber contract, even without a tax subsidy. But the company objected to the tax credit being originally offered to only one bidder, saying the Legislature put Northrop Grumman at a disadvantage.

 

The Associated Press

The Associated Press

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  • JimboAugust 16, 2014 - 12:30 pm

    Good ol Grumman. The same lot that shut down on Long Island NY devastating the regions economy after it was revealed they were charging the pentagon $600 for a hammer....$20 per screw etc.

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