GO-BIZ “CALIFORNIA COMPETES” TAX CREDIT

You are invited to join the Governor’s Office of Business and Economic Development (GO-Biz) for a free workshop on how to apply for the California Competes Tax Credit. Companies large and small that are adding jobs in the state are encouraged to apply for tax credits to help expand their business.

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. Applications are accepted online through a free and interactive website at www.calcompetes.ca.gov

Any business can apply for the California Competes Tax Credit. 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 and that provide their employees good wages and benefits.

This fiscal year, GO-Biz is authorized to award $151.1 million in tax credits of which 25% ($37.7 million) is reserved for small businesses. There are a series of regional workshops around the state addressing the application process. For information on when and where these workshops are taking place, Click here.

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