Expansion Management

Skip the Taxes (Green for Green)

March 27, 2010

California Gov. Arnold Schwarzenegger proved yet again how serious he is about getting his state to be the cleanest and 'greenest.'

On March 24 he signed into law (SB 71) a new sales-tax exemption for companies buying renewable energy or other "clean technology" manufacturing equipment in the state. This tax exemption is a part of the Governor's California Jobs Initiative, a legislative package that he says will create or retain at least 100,000 jobs.

The bill "sends a clear message to every entrepreneur and innovator that it pays to invest in a clean future for California," Schwarzenegger said.

And many companies have invested in environmental technology, as California is the home to 10,209 clean-tech companies which produce biofuels, electric cars, energy storage devices, solar power and other technologies.

Some of the Governor's other green programs include:

* Million Solar Roofs Initiative: The $2.9 billion incentive plan for home and building owners who install solar electric systems, known as the California Solar Initiative, will lead to one million solar roofs in California by the year 2018, provide 3,000 megawatts of clean energy and reduce greenhouse gas emissions by 3 million tons.

* Global Warming Solutions Act of 2006: The Act established a comprehensive program of regulatory and market mechanisms to achieve, quantifiable, cost-effective reductions of greenhouse gas emissions. The law will reduce carbon emissions in California to 1990 levels by 2020.

* Low Carbon Fuel Standard (LCFS): California's LCFS requires fuel providers to reduce the carbon intensity of transportation fuels sold in the state, dramatically expanding the market for alternative fuels. To start, the LCFS will reduce carbon content in all passenger vehicle fuels sold in California by at least 10% by 2020 and more thereafter.

* Renewable Portfolio Standard: This Executive Order directs the California Air Resources Board to adopt regulations increasing California's Renewable Portfolio Standard to 33% by 2020.

* Automobile Emissions Standards: After years of fighting the federal government for the authority to implement our greenhouse gas emissions standards for cars, the U.S. Environmental Protection Agency granted California's waiver and the Obama Administration adopted it for the country.

For information visit the Governor's website

About the Author

Adrienne Selko Blog | Senior Editor

Focus: Expansion Management & the Biotech & Life Sciences Industries

Email: [email protected]

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Call: 216-931-9235

Senior Editor Adrienne Selko manages IndustryWeek’s Expansion Management, delivering ideas and information about how successful manufacturers leverage location to gain competitive advantage. She explores the strategies behind why companies located their headquarters, research institutes, factories, warehouse and distribution centers and other facilities where they did, and how they benefit from the decision.

Adrienne is also the editorial coordinator of the IndustryWeek Expansion Management Roundtable events, which unites economic development professionals to network and discuss the latest trends in site location.

As well, Adrienne tells the stories of successful companies in the biotechnology and life sciences industries.

In the past, Adrienne has managed IndustryWeek’s award-winning website, overseeing eNewletters, webinars, and contributed content. Before joining the staff, Adrienne was managing editor of corporate publications at a large regional financial institution. She also ran a public relations and marketing company that published a best-selling healthcare book.

Adrienne received a bachelor’s of business administration from the University of Michigan and is especially interested in wellness and natural health.