Vacaville’s Synder Filtration receives $120,000 grantNovember 28 2017
The Reporter Posted: 11/21/17, 6:32 PM PST | Updated: 6 days ago
Synder Filtration, a membrane filtration company with headquarters and operations in Vacaville, has been awarded a $120,000 Cal Competes Tax Credit by the state of California.
“We couldn’t be more excited about being selected for this grant,” said Jeff Yeh, president of Synder Filtration, the only independent family-owned company operating in the membrane filtration field in the world. “This will give us the opportunity to accelerate our investment and expansion plans over the next two to three years and complete them in the next five years.”
The California Competes Tax Credit is an income tax credit available to businesses who want to come, stay or grow in California.
Applicants answer a variety of questions to assist the selection committee determine the worthiness of their application and if it meets current criteria.
With the tax credits, Synder will be able to invest more and accelerate research and development to bring new products to market, meet their growth goals and remain competitive.
Synder worked with the city’s Economic Development Department as well as Audrey Taylor of Chabin Concepts on submitting its application to the California Governor’s Office of Business and Economic Development, which oversees the program.
“The idea behind the Cal Competes grant program is to keep local companies competitive,” Taylor said of the program. “During this most recent round of grant awards, 90 businesses shared over $69,575,000 in grant funds.”
Yeh was ready to move forward with his company’s expansion, saying the grant is like a caffeine jolt to his company’s expansion plans.
“Our plans are moving forward right now,” Yeh said. “We plan to make the best use possible of this tax credit to expand our facility, equipment and staffing.”
Synder Filtration is located at 4941 Allison Parkway.
They manufacture specialized membrane filtrations for the dairy, auto, biotech and pharmaceutical industries.
Synder provides GM, Ford, Chrysler, Tesla and others automobile manufacturers with specialized paint recovery membrane products.
In 2013, Synder was recognized for its high export market growth with the President’s “E” Award, one of only two companies in California to be awarded this prestigious honor by the U.S. Secretary of Commerce. Almost 45 percent of the company’s sales are foreign.