Support California Businesses

Aerospace companies are a big source for good paying jobs in California, but the recent budget proposal in Sacramento hurts these critical employers.

Lawmakers in the state approved a plan to dramatically reduce Research and Development (R&D) Tax Credits and the Net Operating Loss (NOL) provisions. Now, these jobs are at risk. This is the last thing the state needs as it tries to recover from the economic downturn caused by the COVID-19 pandemic.

Investing in companies that employ Californians, spur economic activity, and move some of our nation’s most important industries forward is a no-brainer.

It’s past time that lawmakers support R&D tax credits and the use of NOL provisions.

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Dear:

Aerospace companies are one of the largest sources of family-supporting jobs in California, but the recent budget hurts these critical employers. The decision made to push forward with a state budget that hurts employers’ ability to research and develop new technologies will be devastating for jobs and the state economy, particularly for California’s aerospace industry.

Aerospace companies, big and small, provide jobs to over half a million Californians. It provides more than $62 billion annual economic activity while generating over $7 billion in state and local taxes annually. Approving a plan to end Research and Development (R&D) Tax Credits and the Net Operating Loss (NOL) provisions put these jobs at risk. This is the last thing our state needs as it tries to recover from the economic downturn caused by the COVID-19 pandemic.

Investing in companies that employ Californians, spur and sustain positive state economic activity, and contribute to moving some of the country’s most important industries forward is a no-brainer. You must reconsider the suspension of R&D tax credits and the use of NOL provisions and take a stand for California jobs, progress, innovation, economic stability and growth.

Regards,