businesses for expansion projects.
Pocino, Kieran and Ramar each applied for multi-million dollar bonds for planned expansions in their respective areas.
Pocino Foods Company – City of Industry
Pocino Foods produces meat and poultry products sold at
Smart & Final, Subway, Ralph’s Markets and Safeway. The
company’s existing facility needs infrastructure upgrades
and new equipment to comply with current and future food
processing industry standards. The estimated $9 million in
bond financing approved for the project will refinance $5.5
million of existing debt and an additional $3.5 million to
renovate and purchase equipment for an existing building.
Pocino Foods currently has 190 employees and expects to
add 20 new jobs within two years of completing the project.
The City of Industry’s current unemployment rate is 159 percent of the 2007 statewide average.
Kieran Label Corporation – San Diego County
Kieran Label Corporation manufactures tags and labels for
such companies as Home Depot, Costco, Epson, JVC, Sony,
Dell, Scripto and Samsung. The company has outgrown its
30,000-square-foot location in El Cajon and is planning to
expand into a 54,000-square-foot building in the Otay Mesa
Enterprise Zone. This zone has a poverty rate exceeding 110
percent of the state average, and the median household income is less than 80 percent of the statewide average
Kieran applied for a $3 million IDB issued by Union Bank
to finance the expansion. As a result of this latest economic
development project in San Diego County, another 23 jobs
will be added to the existing 44 at Kieran.
Ramar International Corporation – Pittsburg
Ramar International started as a family business in 1968 and
quickly evolved from a three-store retailer and wholesaler
of Filipino food products into a processor of Asian specialty
foods that are not importable from other countries. With
more than 100 employees, Ramar is the leading manufacturer and distributor of frozen Filipino and Asian food in the
U.S. It is one of the first USDA-approved plants to provide a
consistent and safe supply of ethnic frozen food.
To meet increasing demand, Ramar sought $10 million in
bonds to expand its facility into an adjacent building, which
formerly housed a grocery store and skating rink. The financing arranged by CEDA and the City of Pittsburg will
enable Ramar to add 67 manufacturing jobs to its current
workforce of 137. The project is located in the Pittsburg Enterprise Zone where the unemployment rate is 142 percent
of the statewide average.
The California Enterprise Development Authority is the
recognized statewide leader in advocating for expansion of
economic development and financing opportunities.
For more information on CEDA’s innovative, gap-financing pro-
grams, visit www.ceda.caled.org.
CALED Board 2008-2009
Bruce Ackerman
President & CEO, Economic Alliance of San Fernando Valley; Chair
Paul Saldaña
CEcD, President & CEO, Tulare County EDC; Past Chair
Kathy Millison
City Manager, City of Clovis; Chair Elect
VICE CHAIRS:
Cynthia Amador
President & CEO, CHARO Community Development Corp.
Patrick Collins
Consultant, nClover
Cindy Trobitz- Thomas
Redevelopment & Housing Director, City of Eureka
Michael Mizrahi
Director of Public Affairs, Northern Region, The Gas Company
Bill Allen
President & CEO, LAEDC
Frank Altman
President, Community Reinvestment Fund
Bill Bassitt
CEO, Stanislaus ED & Workforce Alliance, Inc.
Michael Bushey
Manager, Economic & Business Development, Southern CA Edison
John Dangberg
Assistant City Manager-Economic Development, City of Sacramento
Karen L. Davis
Senior Management Advisor, Management Partners
Jon Gregory
President & CEO, Golden Capital Network
Kevin Ham
Economic Development Director, City of Vista
Virginia Hamilton
Executive Director, California Workforce Association
Bruce Kern
Executive Director, East Bay EDA
Larry J. Kosmont
President, Kosmont Partners
Paul Krutko
Chief Development Officer, City Manager’s Office, City of San Jose
Ralph Lippman
Executive Director, California Community ED Association (CCEDA)
Eileen Marxen
Deputy Executive Director, CIDFAC
Brian McGowan
Deputy Secretary for ED & Commerce, Bus. Transportation and Hsg Agency
Wade McKinney
City Manager, City of Atascadero
José Millan
Vice Chancellor, California Community Colleges
Michael Olague
Sr. VP/Retail Sales Director, Rabobank, N.A.
Rosie Rios
Managing Director, Investments, MacFarlane Partners
Danny Roberts
Assistant Executive Director/CRA, City of Palmdale
Judie Scalise,
Principal, ESI Corporation
John Shirey
Executive Director, California Redevelopment Association
Bruce Stenslie
President & CEO, Economic Development Collaborative of Ventura County
Jack Stewart
President, California Manufacturing & Technology Association
Ben Stone
Director, Sonoma County Economic Development Board
Robin Zimpfer
Assistant County Executive Officer, Riverside County EDA
