The CALincentives team identified and executed on two key incentives that are making a substantial impact to our business and growth in California. We couldn’t have done it without them.
The experience we had with CALincentives was phenomenal. Alex’s unmatched knowledge and experience with CAEATFA was clear every step of the way. Alex and his team did the heavy lifting and we can’t imagine how we could have done this without them!
The team at CALincentives was a pleasure to work with. The tax incentives they secured for Vivotein will have an immediate and direct benefit to our bottom line.
June 20, 2020 | CIG Tax Insights
Earlier this week, the Governor’s Office of Business and Economic Development (GO-Biz) awarded over $54 million in California Competes Tax Credits to 21 companies—including more than $1 million to clients represented by California Incentives Group. One business had its $18 million award deferred for further review later this month.
These 21 companies are projected to add more than 4,000 California jobs and spend more than $380 million dollars in new California capital investments. You can see all of the details from the GO-Biz award agenda here: GO-Biz CCTC Committee Agenda (June 18, 2020)
CIG INSIGHTS: This was the final California Competes application period for the 2019/20 fiscal year. We expect the first application period for the next fiscal year to open late this summer. While not yet announced, this round is expected to have $80 to $90 million available. This round will also be the final round in which businesses with a calendar year end may use 2019 as their “base year”.
CIG EXPERTISE: Led by Alex Tran, our team of CCTC experts have represented more than 45 businesses to well over $40 million in CCTC awards. With awards ranging from $90,000 to $8 million, these funds have helped businesses in manufacturing, tech, R&D, apparel, engineering, life-sciences, software, green energy, food, e-commerce and many others.
Combining our deep CCTC technical knowledge, experience and state income tax backgrounds—we believe we have a one-of-a-kind approach to helping our clients grow California jobs and investments through the California Competes Tax Credit.
WE’RE HERE TO HELP: If you’re interested in learning more about how we can help your business earn a CCTC award, please reach out to us for a complimentary assessment.