Politics & Government

Murrieta Company, City Attend San Diego Business Panel

Murrieta serves as the world headquarters for Cryoquip, 25720 Jefferson Ave.

The city of Murrieta Economic Development Department and Cryoquip, a leading Murrieta-based industrial exporter, took part in an executive roundtable Wednesday in San Diego.

The event was hosted by the San Diego Daily Transcript, San Diego’s daily business newspaper. The primary topic dealt with international business, with panel members agreeing that American companies can successfully grow in the U.S. by selling their products into markets overseas--particularly to growing markets such as China and Brazil, said Bruce Coleman, economic development director for the City of Murrieta, in a news release.

"Concerns, however, were expressed about high U.S. tax rates, high levels of litigation and the highly regulated environment in Washington and Sacramento and its impact on local companies," Coleman said.

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The city of Murrieta raised a question regarding job creation in the U.S., according to Coleman.

Companies responded by discussing the importance of promoting an export-driven American economy, encouraging research and innovation, expanding U.S. workforce skills, and reducing some of the federal and California regulatory burdens in the U.S. in order to create more jobs in California and America, as a whole. 

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Panelists also discussed that the U.S. will remain competitive since overall wage rates are increasing in China and Brazil.

"Over the next five plus years, the U.S. investment climate will become more positive compared to Europe and some other countries, because investors will find the US to be relatively more attractive and stable," Coleman said.

"Many agreed that the key is to create 'certainty' for business investment in order to encourage the private sector to create jobs in the United States."

Coleman said Murrieta’s participation on the San Diego Daily Transcript panel is part of the City’s ongoing economic development marketing program. 

"This initiative is currently underway in the San Diego region and is intended to increase recognition that the Murrieta community is already home to a number of technology companies and welcomes additional business.

"Murrieta created an International Business Center to assist area businesses to grow locally by helping them to expand markets for the products they make in the Murrieta area."

Murrieta serves as the world headquarters for Cryoquip, 25720 Jefferson Ave. Cryoquip is a leading manufacturer of cryogenic vaporizers and heat exchange systems that are manufactured and exported from Murrieta throughout the world.

In addition to Cryoquip, companies invited to participate in the panel included a variety of leading San Diego international companies, including Amylin Pharmaceuticals, Hyspan Precision Products, Sony Electronics, Iomega, Cymer, Soledad Investments, Steren Electronics International, WD-40, Crowell Moring and Cubic Corporation.


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