-This commentary was originally published in Capitol Weekly's September Issue, written by Lance Hastings and Samantha Corbin. Hastings is the President and CEO of the California Manufacturers & Technology Association (CMTA), and Corbin is the Senior Policy Advisor...
News & Insights
We’re changing the narrative of the manufacturing industry one story at a time. CMTA’s award-winning storytelling team showcases California’s 30,000 manufacturers by uplifting the voices of our makers. Find industry news and the stories from those “Making California” below.
WEBINAR: Data-Driven Solutions for ESG in Manufacturing
Webinar presented by Adastra and CMTA Sacramento, Calif. – The California Manufacturers & Technology Association (CMTA) hosted an exclusive webinar with associate member Adastra, exploring data-driven ESG solutions in manufacturing on Sept. 24, 2024. CMTA's Vice...
Supply Chain Operating System Startup for Manufacturers Joins CMTA
Sacramento, Calif. – The California Manufacturers & Technology Association (CMTA) welcomed new member, Soff, to the organization today. Based in San Francisco, Soff is a supply chain operating system for manufacturing companies. The startup company works to unify...
CMTA’s CEO & President Releases Statement on Gov. Gavin Newsom Vetoing Manufacturing Tax Credit, AB 52 (Grayson)
Sacramento, Calif. – Late Friday evening, California Governor Gavin Newsom returned AB 52 (Grayson) to the Legislature without his signature. This bill would have provided an investment tax credit for the purchase of manufacturing equipment. In his veto message,...
How AB 52, Manufacturing Tax Credit, Will Expand California Jobs
California manufacturing generates more than $394 billion annually and employs more than 1.3 million people with over 30,000 firms. Our manufacturers are the most significant contributor to the United States manufacturing industry, making up 11% of the manufacturing...
Four Products Make the Final Round of the “Coolest Thing Made in California” Contest
Voting for the winner starts Monday, Sept. 9 Sacramento, Calif. – The four finalists of the 2024 “Coolest Thing Made in California” contest, hosted by the California Manufacturers & Technology Association (CMTA), have been announced. From a pool of 138 products...
Top Eight Announced in CMTA’s “Coolest Thing Made in California” Contest Powered by JPMorganChase
Voting to eliminate four products begins Monday, Sept. 2, 2024 Sacramento, Calif. – The bracket is narrowing for the “Coolest Thing Made in California” contest hosted by the California Manufacturers & Technology Association (CMTA), and eight products have racked...
EHS Consulting Firm ALL4 & Insurance Brokerage EPIC Join CMTA as Associate Members
Sacramento, Calif. – The California Manufacturers & Technology Association (CMTA) welcomed several associate members to the organization today, including consulting agency ALL4 and Edgewood Partners Insurance Center (EPIC). “Our associate members play an important...
16 Products Advance in CMTA’s “Coolest Thing Made in California” Contest Powered by JPMorganChase
Voting to eliminate eight products begins Monday, August 26 Sacramento, Calif. – Almost 85,000 votes later, 16 products advanced and will go head-to-head, competing for the title of the “Coolest Thing Made in California.” Over 135 products were nominated for the 2nd...
Manufacturing Minute: Northrop Grumman’s Historic Launch of its Arctic Satellite Broadband Mission in California
In this week's Manufacturing Minute, we highlight three significant developments in the manufacturing sector. Manufacturing Minute is released bi-weekly by the California Manufacturers & Technology Association and is powered by Tri Tool Technologies....
Press Release
CMTA Government Relations Update: California Assembly Bill Would Create Tax Credit for Manufacturers
This month’s Government Relations Update video highlights crucial legislative developments for California’s manufacturing sector.
This proposed legislation, which aims to introduce a manufacturing tax credit for qualified manufacturing equipment and research and development (R&D) purchases, has recently cleared a critical hurdle, passing the Senate and Assembly Floors with unanimous support. It now moves to Governor Gavin Newsom’s desk for a final signature.
California is the nation’s leading state in manufacturing, boasting over 30,000 manufacturers who collectively employ more than 1.3 million people. However, the current economic conditions have not been favorable to the state’s manufacturers, particularly small to medium-sized ones. These businesses, which make up more than 70% of California’s manufacturing landscape, have faced increasing challenges due to the state’s high tax rates at the state and local levels.
AB 52 represents a potential game-changer for these manufacturers. If signed into law by Gov. Newsom, this bill will provide much-needed financial relief to manufacturers by offering tax credits for crucial investments in manufacturing equipment and R&D. This could significantly reduce operational costs, making it a more attractive option for businesses to remain and expand their operations within the Golden State.
AB 52 is projected to have a broader impact on California’s economy. The bill is expected to create approximately 163,000 new manufacturing jobs and generate up to $3.5 billion in new economic activity. The potential growth will benefit the manufacturing sector and contribute to the state’s overall economic vitality.
Moreover, AB 52 aligns with California’s environmental goals. By making it more affordable for manufacturers to invest in carbon-neutralizing products and equipment, the bill supports the state’s efforts to reduce its carbon footprint. AB 52 has the potential to help the state meet both its economic and environmental objectives, fostering a more sustainable industrial ecosystem.
One of the most promising aspects of AB 52 is its potential to reverse the trend of “Invent Here, Build There,” a situation where innovations developed in California are manufactured elsewhere due to cost concerns. By reducing these financial burdens, the bill encourages manufacturers to keep their operations within the state, allowing them to excel and contribute to California’s long-standing tradition of innovation.
Do you want to get exclusive government relations insights from CMTA? 📲 Reach out to members@cmta.net.