$100M in GO-Biz CA Competes Tax Credits Available in January

Wednesday, October 19, 2016

(Source: CDFA California Financing Roundtable Newsletter)
 
Cities looking to attract, retain or expand jobs in their community should consider the Governor’s Office of Business and Economic Development (GO-Biz) California Competes Tax Credit Program as part of their strategy. 
 
Applications will be accepted for the California Competes Tax Credit program during its next funding period, which will be open from Jan. 2–23, 2017. This is the second application period for the program this fiscal year, offering $100 million. Twenty-five percent of these funds are reserved for small businesses with gross receipts of less than $2 million.
 
Applications are evaluated based on the factors required by statute, including total jobs created, total investment, average wage, economic impact, strategic importance and more. Applications are accepted online through a free and interactive website at www.calcompetes.ca.gov.
 
GO-Biz is authorized to award $200 million in each fiscal year 2015-16 through 2017-18 in tax credits.
 
For more information please email CalCompetes@gov.ca.gov or call (916) 322-4051.
 

Category: Economic Development, News

Tags: tax credits, expand business, economic growth, incentive