By Dave Schwab
A Kearny Mesa firm has been awarded a state income tax credit which it intends to reinvest creating jobs for the local economy in Mission Valley and environs.
Diakont (located at 3853 Calle Fortunada) is a leading provider of high?tech robotic solutions that focuses on inspecting gas and oil pipelines that run beneath cities. A lot of its work is regulatory-driven. Diakont often delivers solutions that result in a complete change in the way a task is completed — or enables a task to be completed where it was not previously considered possible.
The firm recently received an income tax credit by the California Governor’s Office of Business and Economic Development (“GO?Biz”). The tax credit was granted in consideration of Diakont’s ongoing commitment to growing and investing in its California?based operations.
“In San Diego, we incorporated six years ago and we’ve got 32 employees,” said Edward Petit de Mange, Diakont’s managing director.
Diakont hires directly out of California universities, particularly UC San Diego and Cal Poly. The firm said that is key to its having a stream of new engineers with new ideas, as well as maintaining a Silicon Valley-level of talent with a more reasonable cost of living and lessened competition.
De Mange described the company’s clientele as “Fortune 100 companies and a lot of engineers.” He pointed out Diakont will be using its state tax credit to “do more hiring and reinvest more money back into the company,” adding its awarded tax credit “is based on our company’s business plan.”
De Mange explained how state tax credit money will be reinvested.
“The way it works is our company is issued a credit on the basis of fulfilling certain obligations with regards to hiring and investment in various things — infrastructure, equipment, etc.,” he said. “As part of our contract, from 2017 to 2021, we’ll be hiring an additional 28 new employees with a $6 million investment into infrastructure. That will all go back into the community because we primarily use local vendors.”
The California Competes Tax Credit was created by Gov. Brown in 2013 to help businesses grow and stay in California. This year, GO?Biz is allocating approximately $240 million in total tax credits.
Diakont was one of 114 expanding statewide companies to share in $91.4 million in approved tax credits. The monetary awards will support these companies in creating a projected 8,223 jobs and generating over $828 million in total investment across California.
“I congratulate Diakont on winning this California Competes Tax Credit, and I thank the company for investing in San Diego,” said State Sen. Toni Atkins (D-39th), whose legislative district includes Mission Valley. “With this award, Diakont will add six more engineers and invest $14 million, which will bring substantial economic benefit to our city and support growth in our region.”
Atkins noted Diakont is in the process of significantly expanding its California operations, including its engineering and manufacturing capabilities, which she said will “continue to create new high-tech jobs in San Diego.”
Based in Kearny Mesa since 2011, Diakont is a provider of special solutions to the energy and oil and gas refining industries.
De Mange noted Diakont has 1,300 employees worldwide, including its significant San Diego contingent.
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—Dave Schwab
