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SCVEDC to receive part of $1.25M county pot

Posted: July 16, 2012 6:40 p.m.
Updated: July 16, 2012 6:40 p.m.

The Santa Clarita Valley Economic Development Corp. is in line to receive a portion of $1.25 million allocated by the Los Angeles County Board of Supervisors for economic development activities.

“The $1.25 million will be divided equally between the five districts,” said Tony Bell, assistant chief deputy for Supervisor Michael Antonovich. “In the 5th District, it will go to SCV Economic Development Corp. and the Greater Antelope Valley Economic Alliance and other local economic developments corporations.” 

The $1.25 millon will result in $250,000 going into various economic development organizations in each of the five districts.

With the designated money already included in the recommended fiscal year budget for 2012-2013, the grant is considered an investment for the purpose of funding programs that attract and retain companies, create or maintain jobs, stimulate business growth and upgrade the business climate.

The purpose of the motion is to ensure regional equity in economic development and business retention efforts throughout the County, including the Santa Clarita Valley, Bell said. 

“We’re submitting a proposal to Supervisor Antonovich and are very appreciative of his strong support of economic development in our valley,” said Jonas Peterson, CEO and president of the SCVEDC.

The July 3 motion by Supervisor Michael Antonovich was approved was approved with a 3 to 2 vote to distribute the money equally between the five L.A. County districts. Supervisors Gloria Molina, Mark Ridley-Thomas and Antonovich voted in favor of the motion.


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