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Sacramento, California. – The Governor’s Office of Business and Economic Development (GO-Biz) today announced a series of workshops across California designed to help businesses apply for the California Competes Tax Credit (CCTC).
Sacramento, Calif. – The Governor’s Office of Business and Economic Development (GO-Biz) today announced a series of workshops across California designed to help businesses apply for the California Competes Tax Credit (CCTC).
“The California Competes tax credit has encouraged hundreds of companies to expand in California and add valuable jobs in the state,” said GO-Biz deputy director Kristen Kane. “Our continued goal for these workshops is to reach new businesses in diverse communities that would benefit from more state resources.”
GO-Biz is awarding a total of $243.3 million in tax credits in fiscal year 2016-17. The next CCTC application period starts July 25, 2016, with $75 million in tax credits available. Businesses interested in applying can register to attend any of the workshops and receive valuable information from GO-Biz staff. GO-Biz has also partnered with several organizations to help promote the workshops and encourage local businesses to attend the events.
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 $340 Million to 500 companies projected to create over 55,000 jobs and make $12.9 billion in investments.
The deadline to submit applications is August 22, 2016, 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 July 25, 2016 atwww.calcompetes.ca.gov.
Members of the CCTC team are available to provide technical application assistance. An application guide, Frequently Asked Questions (FAQs), program regulations, and a video explaining how to create an account are available here.
Complete List of Workshops (July 12 - August 11)
About California Competes
The CCTC 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.
The Governor’s Office of Business and Economic Development (GO-Biz) serves as California’s single point of contact for economic development and job creation efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit:www.business.ca.gov.
If you have any questions regarding the CCTC or application process, please contact our office at (916) 322-4051 or send an email to CalCompetes@gov.ca.gov.
If you would like to receive information about other GO-Biz programs, press releases, newsletters, and events please click here to register.
Sid VoorakkaraDeputy Director, External Affairs
Email: Sid.Voorakkara@gov.ca.govPhone: (916) 322-3140