(Garden Grove, CA) For the second time this year, Senator Janet Nguyen is partnering with the Governor’s Office of Business and Economic Development (GO-Biz) to present a free “California Competes Tax Credit Workshop.” The workshop, held on December 14, 2016 from 3:30 p.m. to 5:30 p.m., at the Garden Grove Courtyard Center, will provide businesses an opportunity to learn about the California Competes Tax Credit (CCTC), a program which seeks to encourage businesses to locate in or stay and grow in California.
“We need to be proactive in our efforts to keep businesses and jobs in California,” said Senator Janet Nguyen. “The California Competes Tax Credit program is an important tool that demonstrates our commitment to California businesses by incentivizing the creation of new full time jobs; an effort that we hope will encourage businesses to choose California over other states that offer them enticing incentives.”
During the 2016-17 fiscal year, the CCTC is offering approximately $243 million in tax credits to businesses of any size to create full time jobs. The next application period begins on January 2, 2017 and ends on January 23, 2017. During this application period, $100 million dollars will be made available to businesses.
“Businesses interested in the CCTC should attend the workshop on December 14th to learn more about the program and receive valuable information from GO-Biz staff,” said Senator Janet Nguyen. “The workshop is a great opportunity to ask questions and develop a better understanding of the state’s efforts to assist the business community.”
Some of the factors considered by Go-Biz in their review of the applications are: the number of jobs created or retained, the strategic importance of the business to the state, region or locality, the amount of investment, opportunity for future growth and expansion, economic impact, extent of unemployment and poverty in current or proposed site location and the extent to which benefit to California exceeds that of the application, among many other factors.
Since 2014, Go-Biz has awarded $340 million to 500 companies projected to create 55,000 jobs and make $12.9 billion in investments.
Residents wishing to attend the workshop on December 14, 2016 to learn more about this tax credit, are encouraged to register at:
For more information or questions, please visit www.business.ca.gov or call (916) 322-4021.
California Competes Tax Credit Workshop
Wednesday, December 14, 2016
3:30 p.m. to 5:30 p.m.
Garden Grove Courtyard Center
12732 Main Street
Garden Grove, CA 92840