KEDC News Release: August 22 2018
KERN COUNTY ENTICES L'OREAL USA TO TEJON RANCH COMMERCE CENTER
First Company to take advantage of County's new Advance Kern incentive program
L'Oréal USA, the world's leading beauty company, recently announced its plan to relocate its Valencia, CA distribution center to the Tejon Ranch Commerce Center, making it the first business to take advantage of the County's new Advance Kern incentive program. The enhanced policy, enacted in November 2017 for companies meeting specific job creation, wage, and capital investment levels, considers projects on a case-by-case basis. L'Oréal's incentive package was approved this week by the Kern County Board of Supervisors and will result in an estimated $2.3 million rebate on property, sales, and use taxes.
The move is further evidence that Kern County is attracting the attention and investment of international companies, including those with operations in Southern California. Kern County, know by many in the site selection industry for its fast-track permitting and business-friendly climate, put the Advance Kern plan together in less than a month. "It took only four weeks to go from initial instruction and application to an agreed-upon incentive package," said Joseph N. Renfro, Executive Vice President of Real Estate for Tejon Ranch.
The incentive agreement is based on the creation of 155 new jobs with an average annual salary of $45,000.
The use-friendly Advance Kern website highlights program elements and includes an incentive calculator for interested parties to determine potential rebates based on project metrics (e.g. capital investment, wage levels, and jobs) when considering locating to, or expanding within, unincorporated Kern County. For details see: www.advancekern.com.