Some of San Diego's fastest growing companies will add more than 600 new jobs over the next five years.
The hiring, however, is starting now.
California awarded 15 San Diego companies tax credits in exchange for investing locally and adding jobs. Overall, the jobs will pay an average salary of about $61,000.
The state launched what's called the California Competes tax credit in 2013 to combat lower cost states, like Texas, from recruiting companies out of California.
"We need people, we need equipment, we need to improve our facilities, and that's really helping us do that," said Dave Twining, chief operating officer of Planck Aerosystems, which got a $600,000 credit. The company just expanded into a Midway warehouse large enough for a net for drone testing.
In exchange for the credit, Planck is committing to add 23 jobs at an average salary of $70,000. Twining said the company needs workers that run the gamut, from office administrators to engineers. Companies are also required to invest or expand in California.
BOFI, for Bank of the Internet, got a $5 million credit for its commitment to expand and add 160 jobs in San Diego over the next five years. The jobs will pay an average salary also $70,000.
But the credits are not just for finance and tech companies.
Take Bold Brew Coffee, which recent SDSU grads Jack Doheny and Jake Solomon launched last year. The state is granting them a $70,000 tax credit in exchange for expanding locally, and hiring seven workers at an average salary of $40,000 a year.
"It's Jack and I running the show, and that's why we desperately need some employees to help us out," Solomon said. "We're starting with sales reps and we're working our way up hopefully to some more higher paying jobs as well."
Companies have five years to do all of the hiring, but they have to start now.
"Send us a resume, tell us what you're enthusiastic about," Twining said. "Tell us what you want to be working on, and we'll talk."
