(Editor’s Note: The following release was issued by Governor’s Office of Business and Economic Development (GO-Biz)
The next California Competes Tax Credit (CCTC) application period starts Monday, March 6, 2017, with more than $68 million in available tax credits. Businesses interested in applying can register to view a live webinar explaining the application process.
This program is open to any business planning to create new full-time jobs in the state, regardless of size or location. Since 2014, GO-Biz has awarded over $400 Million to 574 companies that are projected to create over 60,000 jobs and make $13.5 billion in investments.
The deadline to submit applications is Monday, March 27, 2017, at 11:59 p.m.(Pacific Time) and the online application website will automatically close once this deadline has passed. The online application can be accessed starting March 6, 2017 at www.calcompetes.ca.gov.
Members of the CCTC team are available to provide technical application assistance (CalCompetes@gov.ca.gov / (916) 322-4051). An application guide, Frequently Asked Questions (FAQs), program regulations, and a downloadable version of the webinar presentation are available here.
Complete List of Upcoming Webinars
March 1, 2017
Details and Registration
March 7, 2017
Details and Registration
March 16, 2017
Details and Registration
About California Competes
The California Competes tax credit is part of the Governor’s Economic Development Initiative (GEDI) which Governor Brown signed legislation to enact in 2013 (AB 93 and SB 90). GO-Biz evaluates the most competitive applications based on the factors required by statute, including total jobs created, total investment, average wage, economic impact, strategic importance and more. Companies are exempted from paying state income taxes in the amount awarded.