California Competes Tax Credit
Building upon the efforts to create and expand job growth in California, the Governor’s Office of Business and Economic Development (GO-Biz) has introduced the California Competes Tax Credit. It is an income tax credit available to businesses that want to locate to California or stay and grow in California. For the fiscal year 2014-15, Go-Biz has up to $151.1 million worth of credits available.
Any business can apply for the California Competes Tax Credit, as the credit is available statewide to all industries. However, while there are no geographic or sector-specific restrictions, the purpose of the California Competes Tax Credit is to attract and retain high-value employers in California in industries with high economic multipliers that create stable jobs and provide their employees good wages and benefits.
For more information and an in-depth application guide, click here.