What a $200,000 Tax Credit is Doing for a Moreno Valley Business

MORENO VALLEY >> The Moreno Valley Chamber of Commerce is proud to announce that Chamber Member Citrus Escrow, Inc. was recently awarded $200,000 in tax credit by the State of California through the California Competes Tax Credit program. The Chamber has been sharing the California Competes Tax Credit information to its members since 2014. The Governor's Office of Business and Economic Development (Go-Biz), has been providing free workshops on how to apply for the California Competes Tax Credit throughout the year. According to CalChamber, since June 2014, GO-Biz has awarded $223 million in tax credits to 330 companies projected to create more than 42,000 jobs and make $10.2 billion in investments in California. After much competition, the Moreno Valley Chamber of Commerce is proud to announce that Citrus Escrow has been awarded $200,000 in tax credit by the State of California. "This credit is meant to help small businesses grow.. and boy are we growing," owner Lisa Hatfield LeQuire, stated on Citrus Escrow's Facebook page. "Huge thanks go out to the Moreno Valley Chamber of Commerce for promoting this program!" Out of 300 applicants, approximately 100 businesses were awarded tax credits. Usually a business will receive between $5,000-$15,000 per new employee position created. Citrus Escrow, Inc. received $25,000 per new employee, for a total of $200,000. This is tremendous corporate growth from the one employee the company started with when the business opened in March 2015. Lisa Hatfield LeQuire also stated that they will be adding a total of eight new employees over the next five years. Citrus Escrow, Inc., is currently located at 14315A Corporate Way, Moreno Valley, but is in the process of moving to its new location, 12424 Graham St., in Moreno Valley by April 2016.