CRM Rubber, a tire recycling company headquartered in Newport Beach, California, obtained a tax credit of $3.4 million from the California State Treasurer’s Office. The credit will be used to expand the company’s operations in Stockton, CA.

Crumb Rubber Manufacturers

Altogether, the Treasurer’s Office awarded some $190 million in the form of tax exemptions to companies engaged in different types of recycling business. These tax exemptions became viable under an AB 199 bill, authored by the member of the Assembly Susan Eggman. The tax exemptions of California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) imply operations such as “purchases of equipment used to process recyclables for use in other products, or manufacturing new products from recyclable material”.

CRM Rubber, who manufactures crumb rubber, molded goods and other products from tire rubber, was given a tax break, so that the company can afford establishing a facility at the Port of Stockton and employing some 20 new people.

Brian Wong, CRM’s CEO, says: “Assemblymember Eggman’s bill was overwhelmingly helpful in bringing our company to the Stockton area. We had been considering an additional tire recycling plant in northern California for some time, and the promise of a sales tax exemption in AB 199 was important in that decision”.

Among other companies, which received tax credits from the California State Treasurer’s Office are:

  • Waste Management of Alameda County, San Leandro (is building an organic material recovery facility and organics material composting facility);
  • Waste Management Recycling and Disposal Services of California Inc., Sun Valley (is going to build an organic waste MRF);
  • SANCO Services, Escondido (opted to add a single-stream line and a mixed solid waste recovery line at the existing facility);
  • Recology San Francisco, San Francisco (is going to upgrade and expand its existing MRF);
  • The Monterey Regional Waste Management District, Marin (needs funds to replace an existing MRF);
  • Valley Disposal, Fresno (is replacing a mixed recyclables processing line and building an organics composting facility);
  • MSB Investors LLC, Santa Barbara (will build a MRF);
  • EDCO Disposal Corp., San Diego (will add a new mixed solid waste recovery line);
  • EDCO Transport Services LLC, Signal Hill (will add a single-stream line and a mixed solid waste recovery line.

Article source: Recycling Today