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Thursday, Dec 1, 2022
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Palmdale Plant Receives $17.7 Million Tax Benefit

California State Treasurer Fiona Ma has awarded Northrop Grumman Corp. a $17.7 sales tax exclusion for the purchase of new equipment to expand and upgrade its aerospace manufacturing factory in Palmdale. The facility assembles aircraft systems that include the F-35 Lightning II fuselage, Triton and Global Hawk drones. The company will use the exclusion on the purchase of nearly $212 million in equipment. The California Alternative Energy and Advanced Transportation Finance Authority was established in 2010 to provide an alternative method of financing to promote and advance the state’s goals of reducing greenhouse gas emissions, promoting renewable energy and creating and retaining jobs. “This far-sighted program helps California compete in a fiercely competitive global economy,” Ma said in a statement. “It helps us retain and create high-paying manufacturing jobs that benefit our economy providing carefully targeted tax benefits to companies that are investing in our state, creating jobs, and helping our environment.” Ma also awarded up to $6.8 million in sales tax exclusions to Tesla on the purchase of $81 million of machinery and equipment to expand its electric car factory in Fremont.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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