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Knight introduces aerospace industry package

Posted: February 21, 2013 12:14 p.m.
Updated: February 21, 2013 12:14 p.m.
 

(SACRAMENTO, CA) – Senator Steve Knight (R-Antelope Valley) introduced a series of bills this week focused on the aerospace industry in California.

Following the introduction of Senate Bill 19 on December 3rd, 2012, Knight put four more measures across the Senate desk, adding to his aerospace package today. The bills include sales and use tax exemptions on manufacturing specifically relating to aerospace (SB 412), education income tax credits for Science Technology Engineering and Mathematics (STEM) majors (SB 413), new hire credits for recent aerospace engineers (SB 414), and an addition to last year’s successful space flight indemnity legislation (SB 415).

“We must include tools and incentives for aerospace-related businesses to maintain their competitive edge in the United States as other states continue crafting incentives of their own to lure California jobs away,” said Senator Steve Knight (R-Antelope Valley). “The bills introduced today are business-friendly to aerospace and expand the incentive for younger generations to enter the STEM field.”

Aerospace has a large presence in California as a powerful industry with a reliable source of employment and innovations directly employing more than 162,000 people here, while supporting 640,000 jobs in related fields.

“As a leader in aerospace and defense systems, it is imperative that we continue to foster public policy that is supportive of an industry vital to the history, economy, security, and educational system of California,” concluded Knight.

In addition, Senator Knight is authoring legislation to recognize the month of March 2013 as California Aerospace Month. He will be joined by his Senate and Assembly colleagues alongside industry leaders from all over the state with a weeklong event in Sacramento.

This series of reforms is intended to assist the aerospace industry in California and create jobs in a down economy awaits referral by the Senate Rules Committee to appropriate policy committees.

Note: The Signal delivers press releases from reliable sources to provide up-to-the-minute information to our website readers. Information from these releases has not been vetted by The Signal news room. It may appear subsequently in news stories after it has been vetted.

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