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Kern County leaders sign letter supporting Tejon's Board
GlobeNewswire News Roomยท 2025-05-09 16:47
Core Viewpoint - Tejon Ranch Co. is supported by Kern County leaders in opposition to Bulldog Investors' efforts that threaten the development of Tejon's Master Planned Communities, which are deemed essential for the region's economic growth and sustainability [1][2][13]. Company Overview - Tejon Ranch Co. is a diversified real estate development and agribusiness company with a principal asset of 270,000 acres located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield [4]. Economic Impact - The letter from Kern County leaders highlights the long-standing partnership between Tejon and Kern County, emphasizing the critical role of Tejon's Master Planned Communities for sustainable growth in the region [2][12]. - Tejon's leadership has been integral to Kern County's economic success for nearly two centuries, and any disruption to this relationship could undermine the stability of the local economy [3][13]. Community Engagement - Tejon is recognized as an engaged corporate citizen and a forward-thinking partner, demonstrating ingenuity in navigating California's regulatory environment for land use and development [3][12]. - The success of Tejon's Master Planned Communities is linked to the future economic growth and community development of Kern County, making the current proxy contest a public policy concern [13][14]. Future Outlook - The Tejon Board and management are focused on delivering value for shareholders while ensuring the long-term success of the company and the region, contrasting with Bulldog's adversarial approach which lacks a concrete plan [14][15].