ABOUT THE California Competes Tax Credit
San Diego businesses: Apply by March 18 for the Cal Competes Tax Credit. Available to companies looking to expand or retain jobs in California over the next five years, applicants may be eligible for up to $164 million in tax credits from the Governor’s Office of Business and Economic Development (GO-Biz).
Awards are based on several factors:
- Number of jobs created or retained
- Anticipated amount of new capital investments
- Overall economic benefit
- Opportunities for future growth and expansion
- The extent to which the tax credit influences the applicant’s decision to relocate jobs from states that have enacted laws that permit discrimination on the basis of sexual orientation, gender identity, or gender expression; or deny or interfere with women’s reproductive rights
For more information on eligibility and assistance, visit the Governor’s Office of Business and Economic Development (GO-Biz) website.
learn more & Apply by march 18
need help applying?
All businesses are encouraged to attend either of the following GO-Biz webinars before beginning the application process:
EDC’s expert team is also available, free of charge, to San Diego companies in need of assistance. Since 2015, EDC has supported 39 companies in winning $86,371,700 in credits.
“Creative Electron is very pleased with the support received from CMTC and EDC. We are constantly thinking of our growth goals and how to get there. We believe our people and diversity make us great, and by providing them with the tools to expand their skill set, we are confident we will be able to exceed our ambitious goals.”
–Mariem Ortiz, VP of Operations at Creative Electron, which secured a California Competes Tax Credit of $446,700.