published on November 5, 2021 - 3:09 PM
Written by The Business Journal Staff

A Fresno company plans to create 209 new jobs in the next five years thanks to a $2.5 million tax credit from the state.

Infinity Energy, Inc. secured the award from the Governor’s Office of Business and Economic Development (GO-Biz) as part of its California Competes program to keep jobs in the Golden State. The Rocklin-based company manufactures electric vehicle charging stations.

Infinity Energy currently employs 361 people but has plans to invest upwards of $11 million as part of an expansion that will increase its workforce to 570 by 2025. Some 75% of the net increase in full-time employees will work at least 75% of the time in Fresno, according to the tax credit agreement.

Altogether, GO-Biz this week announced $150 million in tax credits that are projected to create more than 7,600 new, full-time jobs in California. The funding will bring more than $1.2 billion in new investments across the state over the next five years, according to a news release.

“California Competes is an important program that attracts and retains employers, who in turn create good-paying jobs and economic opportunity for California workers.” said Dee Dee Myers, senior advisor to Governor Newsom and Director of GO-Biz. “These tax credits will incentivize the creation of thousands of new, quality full-time jobs and much-needed investment across our state.”

The California Competes Tax Credit was created in 2013 to focus on helping businesses grow and stay in California. GO-Biz evaluates the most competitive applications based on the factors required by statute, including total jobs created, total investment, average wage, economic impact, strategic importance and more. In 2018, the program was extended for an additional five years with at least $180 million in tax credits available for allocation to business each year through 2023.

For more information, visit the GO-Biz website.

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