California Competes Tax Credit

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.

This fiscal year, GO-Biz is authorized to award $151.1 million in tax credits of which 25 percent ($37.7 million) is reserved for small businesses.  GO-Biz made the first allocation of $31 million on Jan. 15 and is scheduled to make additional awards on April 16 ($75 million) and June 18 ($31.1 million plus any unallocated amounts from the previous application periods).  So far, GO-Biz has allocated approximately $60 million to 85 companies that are projected to create over 10,000 jobs and make close to $3 billion in investments.

For more information about the California Competes Tax Credit, visit the GO-Biz website.

The Monterey County Business Council, Salinas Valley Chamber of Commerce and the office of Assemblymember Luis. A. Alejo are co-sponsoring a free workshop on the California Competes Tax Credit this week, from 9-10 a.m. Thursday, Feb. 26 at the Monterey County Agriculture Commissioner’s Office.

The workshop is one of a series of regional workshops around the state. GO-Biz will also host an online webinar on Monday, March 16, from 2 to 3 p.m. Click here for details.

CALIFORNIA COMPETES WORKSHOP DETAILS:
What: Free workshop on California Competes Tax Credit
When: 9-10 a.m. Thursday, Feb. 26
Where: Monterey County Agriculture Commissioner’s Office, 1428 Abbott St., Salinas.
Registration info: See website.

Established in 2002, the Business Council is a 501 C 6 non-profit organization comprised of more than 45 businesses, municipal, non-profit and community agencies, representing more than 2,500 employees...