Sacramento, CA – The Governor’s Office of Business and Economic Development (GO-Biz) announced that it is now accepting applications for the California Competes Tax Credit (CCTC). The tax credits, which are administered three times per year, are available to businesses that plan to expand to California or stay and grow in the state. For this application period, there are at least $74 million in tax credits available for businesses that are expanding and adding full-time jobs in California.
“This administration is committed to restoring the California Dream for all Californians,” said the Governor’s Chief Economic and Business Advisor and Director of GO-Biz Lenny Mendonca. “In order to achieve an economy that benefits all our citizens, we want to support businesses who are investing or hope to invest in our state to grow high-quality jobs with real career potential.”
Members of the CCTC team are available to provide technical application assistance via phone (916) 322-4051 or email CalCompetes@gobiz.ca.gov. The deadline to submit applications is Monday, March 25, 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 at www.calcompetes.ca.gov.
An updated application guide, Frequently Asked Questions (FAQs), and program regulations are available at www.business.ca.gov/CalCompetes.aspx. For applicants that are reapplying, the FAQs include instructions on how to copy information from a previously submitted application.
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development 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.