Attraction Incentive Awarded to California Resources Corporation

Today, the Santa Clarita Valley Economic Development Corporation awarded its Industry Cluster Attraction Incentive to California Resources Corporation. California Resources Corporation opened its Technology Production Office in Santa Clarita earlier this month.

California Resources Corporation secured approximately 22,000 square feet in a multi-tenant building called Tourney Pointe in the Valencia Corporate Business Park. The California Resources Corporation Technology Production Office now employs approximately 38 professional staff, including engineers, geologists, and information technologists.

The incentive reimburses California Resources Corporation for permit fees incurred during the tenant improvement process, approximately $11,000.

Todd Stevens, CEO of California Resources Corporation, thanked the SCVEDC for its assistance, and lauded the Santa Clarita Valley as a place to do business. “Our desirable location and the strong Santa Clarita labor market present an excellent opportunity for us to grow and to recruit first-rate employees,” he wrote in a letter to the SCVEDC.

The Industry Cluster Attraction Incentive is designed to assist companies bringing high quality jobs to the Santa Clarita Valley. The incentive is available to companies in select industries with a minimum of 20 employees. Companies may receive up to $40,000 to cover the costs associated with permitting and other fees.

For more information on the Industry Cluster Attraction Incentive and other incentive programs, contact SCVEDC.