Equity firm doubles down on Smittcamps with Lyons deal

November 14, 2017

The Business Journal

A private equity firm with offices in New York and San Mateo has announced a strategic investment in Fresno-based Lyons Magnus, producer of food-service products including fruit toppings, sauces, juices and syrups.

The financial terms of the investment by Paine Schwartz Partners was not disclosed. Bob Smittcamp, whose family has owned Lyons Magnus for more than 46 years, will continue to lead operations as chairman and CEO. He will also remain a “significant” shareholder in the company, according to a news release.

The executive team of Lyons Magnus — Kent Walrack, Jim Davis, Kris Porter, Jon Parker, Phil James, Brad Kirk and Steve Twet — will continue in their current roles in the business.
In a statement, Smittcamp said, “My family and I have dedicated the last 46-plus years to growing Lyons Magnus, and I believe that our decision to partner with the team from Paine Schwartz will help take our Company to the next level. Paine Schwartz brings extensive experience and understanding of the fruit business and the food-service industry. I want to thank our strong team of dedicated and long-term employees, who played an important role in building Lyons Magnus into an industry leader. With the benefit of additional expertise and resources from Paine Schwartz, we look forward to continuing to provide customers with the high quality and unique portfolio of products they expect from us.”

This strategic investment deepens Smittcamp’s relationship with Paine Shwartz Partners, as the equity firm previously made a strategic investment in Wawona Packing Co., the peach farming and packing operation founded by Bob Smittcamp’s father, Earl, in 1948.

Go to full story at The Business Journal

GO-Biz partners with CMTC to promote ‘CA Made” manufacturing labeling program

For Immediate Release
Monday, November 20, 2017

Sacramento, California. – The Governor’s Office of Business and Economic Development (GO-Biz) today announced a partnership with California Manufacturing Technology Consulting (CMTC) designed to increase the benefits for businesses that participate in GO-Biz’s recently launched ‘CA Made’ state labeling program for manufacturers. The partnership provides CA Made manufacturers with access to the statewide benefits of CMTC’s ‘Made in California’ program.

“Our partnership with CMTC will increase the visibility of the CA Made program and provide manufacturers with improved access to suppliers, business-to-business networking and events, and technical assistance specific to the needs of manufacturers,” said GO-Biz Deputy Director Jesse Torres. “CA Made manufacturers will now enjoy a broad expansion in program benefits to support their manufacturing operations and marketing efforts.”

“Since launching in 2011, CMTC’s Made in California program has grown to include more than 900 small- and medium-sized manufacturers. Through this partnership with GO-Biz and the CA Made program, we will significantly enhance the ability of California manufacturers to promote products that are made in California,” said CMTC’s President and CEO Jim Watson.

CA Made is a state labeling program designed to encourage consumer product awareness and promote the purchase of products manufactured in California. The program is administered by GO-Biz. CA Made provides the following services to approved products:
A license to use the CA Made label on products, packaging, and point of sale merchandising.
Placement of the product and company biography on the CA Made website.
Information on services from program partners.
Marketing via GO-Biz’s social media sites (e.g. Twitter, Facebook).
Access to CMTC’s Made in California partnership benefits.
For more information on CA Made, visit http://camade.ca.gov/.

CMTC’s Made in California Program promotes California manufacturers, brands, and product lines through marketing, events, and business-to-business networking opportunities. CMTC is affiliated with the U.S. Department of Commerce’s National Institute of Standards and Technology and is part of the Hollings Manufacturing Extension Partnership (“MEP”) Program.

About Governor’s Office of Business and Economic Development (GO-Biz)
Established in 2012 by Governor Brown, GO-Biz serves as California’s single point of contact for economic development and job creation efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more.

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Contact: Sid Voorakkara, (916) 680-0837; sid.voorakkara@gov.ca.gov

GO-Biz approves $69M in tax credits for 90 companies, adding 6,200 CA jobs

For Immediate Release
November 16, 2017

Sacramento, Calif. – Today, the Governor’s Office of Business and Economic Development (GO-Biz) announced that the California Competes Tax Credit (CCTC) committee approved $69 million in tax credits for 90 companies projected to create 6,236 jobs and make $1.2 billion worth of new capital equipment investments across California. View the complete list of approved companies and award amounts.

“The California Competes Tax Credit encourages companies from around the world to locate, expand and add good paying jobs in California,” said Panorea Avdis, GO-Biz Director and Chair of the California Competes Tax Credit Panel. “In just three years, hundreds of companies have made commitments to expand in the state and GO-Biz will continue to host informational workshops and work with our regional and local partners to ensure companies of all sizes know about and apply for these tax credits.”

GO-Biz Director Panorea Avdis convened the committee, which includes Treasurer John Chiang, director of the Department of Finance Michael Cohen, and Senate appointee Denise Zapata and Assembly appointee Madeleine Janis, at the California Department of Food and Agriculture auditorium in Sacramento.

“This tax credit was the decision-maker for our company to add manufacturing jobs here in California,” said John Barrett, Chief Financial Officer, ReAction Optics. “As a third generation Californian, I want these jobs to be here, but as an executive, I have to make business decisions. This credit ensures our long-term growth happens right here at home.”

In 2013, Governor Brown created the California Competes Tax Credit to focus on helping businesses grow and stay in California. Since 2014, GO-Biz has allocated $622.8 million to 865 companies projected to create 83,414 new jobs and make $15.7 billion in new investments.

“Our company set out to reduce traffic congestion and vehicle emissions and invented the foldable electric vehicle,” said Peter Lee, CEO and Founder of Urban 626. “California is where the idea was founded, and because of the California Competes Tax Credit award, it’s where the URB-E will be manufactured.”

About California Competes
The California Competes tax credit is part of the Governor’s Economic Development Initiative (GEDI) which Governor Brown signed legislation to enact in 2013 (AB 93 and SB 90). GO-Biz evaluates the most competitive applications based on the factors required by statute, including total jobs created, total investment, average wage, economic impact, strategic importance and more. Companies are exempted from paying state income taxes in the amount awarded.

About Governor’s Office of Business and Economic Development (GO-Biz)
Established in 2012 by Governor Brown, GO-Biz serves as California’s single point of contact for economic development and job creation efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more.

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Contact: Sid Voorakkara, (916) 680-0837; sid.voorakkara@gov.ca.gov

Governor’s Office marks Manufacturing Awareness and Appreciation Month with recognition of Valley events

Above. Secretary Karen Ross (center), California Department of Food and Agriculture, and Secretary Alexis Podesta (left), California Business, Consumer Services and Housing Agency (holding frame), and supporters (from left) Robert Sanger, California Manufacturers and Technology Association; Gene Russell, Manex; Tammy Cronin, Valley Vision; Dorothy Rothrock, California Manufacturers and Technology Association; Dan Ripke and Michael Suplita, Chico State Center for Economic Development; and Ismael Herrera, Fresno State Office of Community and Economic Development.

Download News Release

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November 1, 2017

FRESNO- Tuesday, Oct. 31, 2017, ended a month-long set of manufacturing events in the San Joaquin Valley and was recognized by the Office of Governor Jerry Brown as Manufacturing Awareness and Appreciation Month. In honor of this declaration, the governor hosted a photo op with Secretary Karen Ross, Department of Food and Agriculture, and Secretary Alexis Podesta, Business, Consumer Services and Housing Agency, who presented the proclamation to manufacturing representatives and supporters.

“The manufacturing sector is crucial to the California economy, and I thank them for their contributions,” as stated in Governor Brown’s proclamation.

Manufacturing Month kicked off on Tuesday, October 3, with numerous local manufacturers opening their facilities for guided tours to high school students interested in manufacturing careers, and was followed by the official Manufacturing Day on Friday, October 6.

On October 18, Fresno County Office of Education hosted the Career Tech Expo in Fresno, providing students and parents insights on the many career options available in industry sectors. Thousands attended the Expo which included hundreds of businesses and exhibitors.

Friday, October 20, marked the groundbreaking for the Fresno County Superintendent of Schools Career Technical Education Charter. Set to open summer 2018, the high school will welcome a freshman class of 125 in a program that links education directly to industry career opportunities.

On Thursday, October 26, the Office of Community and Economic Development co-hosted the inaugural South Valley Industrial Summit in Tulare, Calif. The Summit provided the opportunity to recognize the achievements by industry-led, community-supported partnerships that reinforce economic growth in the South San Joaquin Valley. More than 200 people attended the event which included breakout sessions with discussions on a wide range of topics. Representatives from Faraday Future, the electric vehicle startup company which recently opened a Hanford facility, and electric bus manufacturer GreenPower Bus gave keynotes.

 

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Business and industry exhibitors were available for participants to get more information.   Faraday Future representatives give keynote at the Summit.
     
To learn more about the Summit, go to: http://centralvalleymfg.com/home/south-san-joaquin-valley-industrial-summit/