In the news...

August 18, 2014

Brown extends tax credit to Northrop Grumman

California Gov. Jerry Brown has signed legislation that extends a $420 million state tax credit to aerospace giant Northrop Grumman after approving a similar deal for its competitor, Lockheed Martin.

Brown’s office announced Aug. 15 that he signed SB718 by Sens. Richard Roth, D-Riverside, and Sen. Stephen Knight, R-Palmdale. It expands an aerospace tax credit that lawmakers approved in July for Lockheed Martin so it also applies to Northrop Grumman.

Both companies have facilities near Palmdale and are bidding for a $55 billion Pentagon stealth bomber contract.

Northrop Grumman said it would create 1,500 new jobs in Palmdale under the massive bomber contract, even without a tax subsidy. But the company objected to the tax credit being originally offered to only one bidder, saying the Legislature put Northrop Grumman at a disadvantage.

Lawmakers last month approved the initial tax credit, at the request of Brown’s office, to benefit a joint bid being submitted by Lockheed and Boeing. The governor signed the fast-tracked AB2389 into law after his office assured Northrop Grumman that it would receive a similar deal.

That bill also included tax credits intended to lure a $5 billion Tesla battery manufacturing plant to California, although the Brown administration has refused to specify what precisely it gives to Tesla.

SB718 sailed through the Legislature this week with a 73-0 Assembly vote Aug. 11 and 32-4 Senate vote Aug. 13.

ìThis is a victory for fairness, the aerospace industry and all Californians,î Northrop spokesman Tim Paynter said in an email.

Only one of the companies would be eligible for the tax credit if it is awarded the contract and decides to build its facility in California. AP




All of this week's top headlines to your email every Friday.


 
 

 

Headlines April 24, 2015

News: More than $1 billion in U.S. emergency reconstruction aid goes missing in Afghanistan - A total of $1.3 billion that the Pentagon shipped to its force commanders in Afghanistan between 2004 and 2014 for the most critical reconstruction projects can’t be accounted for by the Defense Department, 60 percent of all such spending under an...
 
 

News Briefs April 24, 2015

German defense minister: widely used rifle has no future A widely used assault rifle has “no future” with the German military in its current form, Germany’s defense minister said April 22, escalating a dispute over the weapon’s alleged shortcomings. Ursula von der Leyen said last month that a study showed the G36 rifle has a...
 
 
Army photograph

Composites key to tougher, lighter armaments

Army photograph XM-360 test firing at Aberdeen Proving Ground, Md., in 2007, is shown. The Army is on the cusp of revolutionizing materials that go into armament construction, making for stronger, lighter and more durable weapo...
 

 

Northrop Grumman signs long-term agreement with Raytheon

Northrop Grumman has entered a long-term agreement with Raytheon to supply its LN-200 Inertial Measurement Unit for Raytheon optical targeting systems. The long-term agreement with Raytheon’s Space and Airborne Systems business extends through 2018. The LN-200 provides camera stabilization on optical targeting systems that conduct long-range surveillance and target acquisition for various...
 
 

NTTR supports first F-35B integration into USMC’s weapons school exercise

The Nevada Test and Training Range was part of history April 21, when four U.S. Marine Corps-assigned F-35B Lightning IIs participated in its first Marine Corps’ Final Exercise of the Weapons and Tactics Instructor course on the NTTR’s ranges. The Final Exercise, or FINEX, is the capstone event to the U.S. Marine Corps Marine Aviation...
 
 
AAR-Textron

AAR awarded new contract from Bell Helicopter Textron to support T64 engines

AAR announced April 22 that Bell Helicopter Textron Inc. awarded its Defense Systems & Logistics business unit a contract providing warehouse and logistics services in support of upgrading T64 engines for the Bell V-280 Val...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>