CALIFORNIA COMPETES TAX CREDIT:
The California Competes Tax Credit (CCTC) is an income tax credit available to businesses that want to locate in California or stay and grow in California. Businesses of any industry, size, or location compete for over $180 million available in tax credits by applying in one of the three application periods each year. Applicants will be analyzed based on twelve different factors of evaluation, including number of full-time jobs being created, amount of investment, and strategic importance to the state or region.
A total of $284,707,469 in California Competes Tax Credit is available for allocation in the 2021-2022 fiscal year. Applications for the California Competes Tax Credit will be accepted online at www.calcompetes.ca.gov during the following periods:
- Round 3: March 7, 2022, through March 28, 2022 ($89.7 million plus any remaining unallocated amounts from the previous application periods
Application instructions, FAQs, and other technical assistance documents are available at https://business.ca.gov/california-competes-tax-credit/.
If you have any questions regarding the CCTC or application process, please contact our office at (916) 322-4051 or send an email to [email protected].
CALIFORNIA COMPETES GRANT PROGRAM:
The California Competes Grant is available to businesses that want to locate or stay and grow in California. A total of $120 million in California Competes Grant funds are available for allocation in the 2021-2022 fiscal year. The maximum grant award is $36 million.
The CalCompetes Grant is available to businesses of any size if the project meets at least one of the following criteria:
- Will create at least 500 new full-time jobs in California
- Will make capital investments of at least $10 million
- Will take place in an area of High Unemployment and/or Poverty as defined in the California Competes Tax Credit regulations.
- Application period opens Application Period Timeline – March 7, 2022 – March 28, 2022
More information is available on the one page fact sheet.