Reindustrialization in USA - Euler Hermes

Economic Outlook n° 1187 | Special Report | The Reindustrialization of the United StatesEuler Hermesefficiency innovations.” The state has also establishedthe California “million solar roofs initiative” aiming tocreate one million solar roofs in California by 2018.u Other incentivesCalifornia is trying to lure manufacturing jobs back tothe states with many different programs. One sucheffort is the “Innovation Hub,” which according tothe state government “seeks to improve the state'snational and global competitiveness by stimulatingpartnerships, economic development and job creationaround specific research clusters throughout thestate. Innovation Hubs target young, innovative companiesthat have been in business for less than eightyears in a technology cluster…” Other efforts includeIndustrial Development Bonds and Small BusinessLoan Guarantees.u ExportsTo support exports, the state has twelve cargo airportsand eleven cargo seaports including the two largest inthe nation, the ports of Los Angeles and Long Beach. Thestate’s 17 Foreign Trade Zones (FTZ) are intended to promoteexports by delaying, or even foregoing export orimport taxes and duties. The computer and electronicsmanufacturing industry is of course well represented inexports, comprising 29% of the state’s total. California’s topexport markets include the stable Canadian economy andthe more rapidly growing economies of Mexico, China andSouth Korea. ©The state government is currently providing a menuof tax incentives to lure manufacturing to Californiaas well. These include a Research and DevelopmentTax Credit, a Film and TV Production Tax Credit, aWork Opportunity Tax Credit, a Net Operating LossCarryover provision and finally, in an attempt to furtherpromote “green energy”, the state is offeringSales & Use Tax Exemptions for Clean Tech Manufacturing.35