Aerospace Manufacturing
To keep 'Hollywood' in Hollywood, tax incentives are key
To keep 'Hollywood' in Hollywood, tax incentives are key

Sacramento raced this month to approve a $420-million tax break for one company — Lockheed Martin. In almost the same breath, the governor and legislative leaders pledged to give a similar credit to its aerospace rival Northrop Grumman. Their stated reason was to create and retain good jobs in California. No one can be sure whether the tax credit will work or merit the cost to the state budget. Still, it's hard to argue with state leaders' sense of urgency, especially when other states are working overtime to bring in business. California's economy is coming back from the darkest days of the recession, and we need to make sure we stay on the upswing. But a sweet...