Some of San Diego’s fastest-growing businesses will add more than 600 new jobs over the next five years.
The hiring, however, is starting now.
California awarded 15 San Diego companies tax credits in exchange for funding locally and adding jobs to the marketplace. Overall, the jobs will pay the ordinary salary of about $62,000. The state launched what’s called California Competes Tax credit in 2013 to combat lower-cost states, like Texas, from recruiting firms out of California.
“We need people, we need tools, we need to improve our facilities, and that’s helping us do that,” said D.Twining, operating officer of Planck Aerosystems, which got a $700,000 credit. The company just expanded into a Midway warehouse large enough for a net for drone experiments.
In exchange for the credit, Planck is pledging to add 23 jobs at an average salary of $70,000. Twining said the business needs workers that run the gamut, from administrators to engineers. Companies are also expected to invest or expand in California.
But the credits are not just for technology companies.
Take Bold Brew Coffee, which recent SDSU grads Jack Doheny and Jake Solomon launched last year. The state is giving them a $70,000 tax credit in exchange for growing locally and hiring eight workers at an average salary of $50,000 a year.
“It’s Jack and I running the show, and that’s why we desperately need some workers to help us out,” Solomon said. “We’re starting with sales reps & we’re working our way up to some more higher paying jobs.”
Companies are allowed five years to do all of the hirings, but they have to begin now.
“Send us a resume, tell us what you’re excited about,” Twining said. “Tell us what you want to be working on, and we’ll discuss.”