CITY OFFERS INCENTIVES TO LURE ASSEMBLER TO ANTELOPE VALLEY.Byline: Jim Skeen Daily News Staff Writer The city is offering $142,620 in assistance to bring a Valencia electronics assembly company to the Antelope Valley This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley , the mayor said Monday. The incentive is being offered to A and M Electronics, which is planning to build a 10,000-square-foot plant at 10th Street West and Avenue M-12. The company employs 40 people and expects to add 10 to 15 more workers after relocating, said Mayor Jim Ledford. Palmdale offered the company $108,907 to reduce interest costs on a $700,000 construction loan, bringing the interest to the company from 8.5 percent to 6 percent. Palmdale also will provide $33,716 to handle some of the closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, and to help pay some permit fees. ``I think it's a pretty effective use of monies,'' Ledford said. The availability of cheap land was the primary reason for choosing the Antelope Valley, said A and M owner Ron Simpson Ron Simpson (born February 25, 1934 in Carlisle, England) was a former professional footballer who played as a midfielder for Huddersfield Town, Sheffield United, Carlisle United & Queen of the South. . Land in the Antelope Valley runs from $2.50 to $5 a square foot compared to $12 to $15 a square foot for the Santa Clarita Valley The Santa Clarita Valley is the valley of the Santa Clara River in Southern California. It stretches through Los Angeles County and Ventura County. Its main population center is the city of Santa Clarita. The valley was part of the 48,612-acre (19,672. . ``We want to realize a dream we've had in owning our own facility,'' said Simpson, who lives in Palmdale. ``For what we are paying in rent we can own an acre of land and have a 10,000-square-foot building built to our specifications.'' The company has been in business for 22 years, performing assembly work on ``everything from toys to tanks,'' Simpson said. Among their contracts is assembly of a mechanism for ejection ejection /ejec·tion/ (e-jek´shun) 1. the act of casting out or the state of being cast out, as of excretions, secretions, or other bodily fluids. 2. something cast out. 3. seats for fighter aircraft fighter aircraft Aircraft designed primarily to secure control of essential airspace by destroying enemy aircraft in combat. Designed for high speed and maneuverability, they are armed with weapons capable of striking other aircraft in flight. . The firm is the second electronics assembly company Palmdale has attracted since the Antelope Valley was designated as an enterprise zone in February 1997. The first company was Senior Systems Technology, which relocated re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. from Chatsworth to a $6.5 million Palmdale plant in August. Companies in the enterprise zone are eligible for a variety of state tax credits, including credits for equipment purchased and on wages for employees hired through certain programs. |
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