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California Competes Tax Credit

Income Tax Credits to California Businesses to
Encourage Economic Development and Job Creation

Agency Type:

State

Funding Source:

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California Governor’s Office of Business and Economic Development (GO-Biz)

Deadline Date:

03/30/20

Description:

Request a Grant Writer

Income tax credits starting at $20,000 to businesses as an incentive to relocate or expand their business in California. This program is open to businesses that want to stay and grow in California or come to California. The purpose of this program is to increase the number of jobs with good wages and benefits by attracting and retaining high-value employers in industries with high economic multipliers.

Award of the credit will be based on the following factors:
- The number of jobs the business will create or retain in this state
- The compensation paid or proposed to be paid by the business to its employees, including wages, benefits, and fringe benefits
- The amount of investment in this state by the business
- The extent of unemployment or poverty where the business is located
- The incentives available to the business in this state, including incentives from the state, local government, and other entities
- The incentives available to the business in other states
- The duration of the business’ proposed project and the duration the business commits to remain in this state
- The overall economic impact in this state of the applicant’s project or business
- The strategic importance of the business to the state, region, or locality
- The opportunity for future growth and expansion in this state by the business
- The training opportunities provided to employees
- The extent to which the anticipated benefit to the state exceeds the projected benefit to the business from the tax credit
- The extent to which the credit will influence the applicant’s ability, willingness, or both, to create new full-time jobs in this state that might not otherwise be created in the state by the applicant or any other business in California

GrantWatch ID#:

GrantWatch ID#: 180343

Estimated Total Program Funding:

$180,000,000

Estimated Size of Grant:

The minimum amount a business can request is $20,000.

A total of $236,808,527 in California Competes Tax Credit is available for allocation in the 2019-2020 fiscal year:
- July 29, 2019, through August 19, 2019 ($90 million available)
- January 6, 2020, through January 27, 2020 ($75 million available)
- March 9, 2020, through March 30, 2020 ($71.8 million plus any remaining unallocated amounts from the previous application periods)

No more than 20% of the total funding pool may go to any one applicant per fiscal year.

Additional Eligibility Criteria:

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.

Businesses of any size are eligible to apply for the California Competes Tax Credit.

Pre-proposal Conference:

Periodically, GO-Biz hosts workshops and/or webinars about the California Competes Tax Credit program. Each workshop or webinar consists of a 45-minute presentation, followed by a question and answer session. Each presentation includes the following:

-Overview of the program
-Program goals and evaluation criteria
-Step-by-step instructions through the application process
-All businesses are encouraged to attend a workshop and/or webinar to receive instructions on how to apply.

Webinar Schedule:
March 11, 2020 9:30 – 10:30 AM PDT Details and Registration
https://zoom.us/webinar/register/WN_QcROsH6ZR52gOA32ByflLA

March 19, 2020 4:00 – 5:00 PM PDT Details and Registration
https://zoom.us/webinar/register/WN_cG1bj3AZQEKikVPyIMCEvQ

March 24, 2020 11:00 a.m. – 12:00 PM PDT
https://zoom.us/webinar/register/WN_qZdaV0YqSKKh1qFhRvnGKA

Pre-Application Information:

For fiscal year 2019-2020, GO-Biz will accept applications for the California Competes Tax Credit during the following periods:
- July 29, 2019, through August 19, 2019
- January 6, 2020, through January 27, 2020
- March 9, 2020, through March 30, 2020

The process takes approximately 90 days which includes the period when applications will be reviewed and presented to the California Competes Tax Credit Committee for approval.

Resources: http://www.business.ca.gov/Programs/California-Competes-Tax-Credit/California-Competes/Resources
Application Tutorial Videos: https://www.youtube.com/playlist?list=PLHQ5ajdTKjIg8_5NiIxPqfZydW47qb6t-
Application Presentation: http://business.ca.gov/LinkClick.aspx?fileticket=kw9Tomtf-nQ%3d&portalid=0×tamp=1562187438475

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Online application portal: http://www.calcompetes.ca.gov/

Email: CalCompetes@gobiz.ca.gov
Phone: (916) 322-4051

Governor’s Office of Business & Economic Development
1325 J Street, 18th Floor
Sacramento
California 95814

URL for Full Text (RFP):

Geographic Focus:

USA: Alabama;   Alaska;   Arizona;   Arkansas;   California;   Colorado;   Connecticut;   Delaware;   Florida;   Georgia;   Hawaii;   Idaho;   Illinois;   Indiana;   Iowa;   Kansas;   Kentucky;   Louisiana;   Maine;   Maryland;   Massachusetts;   Michigan;   Minnesota;   Mississippi;   Missouri;   Montana;   Nebraska;   Nevada;   New Hampshire;   New Jersey;   New Mexico;   New York City;   New York;   North Carolina;   North Dakota;   Ohio;   Oklahoma;   Oregon;   Pennsylvania;   Rhode Island;   South Carolina;   South Dakota;   Tennessee;   Texas;   Utah;   Vermont;   Virginia;   Washington, DC;   Washington;   West Virginia;   Wisconsin;   Wyoming

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