Tag: CCTC

APPLY for up to $215M in Tax Credits

Is your business considering expanding outside of the state or in need of assistance relocating or retaining jobs in California over the next five years?

You may be eligible for up to $215 million in Cal Competes Tax Credit from the Governor’s Office of Business and Economic Development (GO-Biz). Applications for this round will be accepted from January 6 to 27.

GO-Biz bases awards on several factors relative to the State of California, including:

• 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.

need help applying?

Since 2015, EDC’s expert team has supported 39 companies in winning more than $86 million in Cal Competes Tax Credits. EDC also offers San Diego companies access to services including permitting, site selection, and consulting for economic incentives like Cal Competes—available at no cost.

CONTACT EDC NOW FOR APPLICATION sUpport

Cal Competes applications open January 6 and close January 27, 2025.

“EDC was an integral resource for our redevelopment. They were able to strategically bring key partners together and secure incentives that best positioned us to redevelop our headquarters in the Kearny Mesa area.”
–Anshooman Aga, EVP & CFO, Cubic Corporation, which secured a California Competes Tax Credit of $8 million

ABOUT THE California Competes Tax Credit

Is your businesses growing in the state of California over the next five years, or at risk of leaving California? Applications are now open for companies seeking a tax credit to offset state income tax liability. The Governor’s Office of Business and Economic Development (GO-Biz) has $85 million in tax credits available for your company in this funding round.

Awards are primarily based on the following factors, including:

• Number of jobs created or retained
• Anticipated amount of new capital investments
• Overall economic benefit to the state
• Opportunities for future growth and expansion

For more information on eligibility and assistance, visit the Governor’s Office of Business and Economic Development (GO-Biz) website.

Apply by March 20

Get help applying

Learn about the application process via California GO-Biz’s on-demand webinars:

• March 8, 9:30–10:30 a.m. | Register
• March 16, 3:00–4:00 p.m. | Register

Fill out the form linked below to request application assistance from EDC staff, free of charge.

HELP MY BUSINESS APPLY

“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.

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