California Competes credits slotted for 7,164 new jobs
SACRAMENTO, Calif. – Another round of California Competes Tax Credits in the amount of $43.7 million will help create jobs and expansion in California.
Building upon California’s nation leading job creation, the Governor’s Office of Business and Economic Development (GO-Biz) has announced that the California Competes Tax Credit (CCTC) committee approved $43.7 million in tax credits for 89 companies expanding and creating jobs in California. The awards will help these companies create a projected 7,164 jobs and generate over $600 million in investment across California.
The complete list of approved companies and award amounts can be found here.
“The California Competes tax credit further demonstrates California’s ability to identify high quality companies and encourage them to expand in the state,” said committee chair Mike Rossi. “When combined with a world class work force, dynamic economy and culture of innovation, the California Competes tax credit helps make California the most consistently targeted state for new company investments.”
The California Competes Tax Credit was created by Gov. Jerry Brown and is focused on helping businesses grow and stay in California. Last fiscal year, GO-Biz allocated approximately $150 million to 212 companies that are projected to create over 35,000 jobs and make over $9.1 billion in investments. This fiscal year, GO-Biz is awarding $200 million in tax credits through three award rounds. Companies interested in applying for California Competes tax credits can apply during the next application round scheduled for January 2016. Applicants complete a free, user friendly application available on-line atwww.calcompetes.ca.gov.