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.
July 15, 2019 | CIG Tax Insights
In two weeks, the California Competes Tax Credit (CCTC) program will re-open and accept applications. This will mark the state’s first round for its 2019/20 fiscal year. $90 million will be available.
Last month, the Governor’s Office of Business and Economic Development (GO-Biz) granted $55.8 million in CCTC awards to 20 companies projected to grow 6,800 jobs and $466 million in capital investments. Out of the 20 awardees, CALincentives represented multiple awards in excess of $1 million.
Enacted in 2013, the CCTC is an income tax credit administered by GO-Biz. Since 2014, GO-Biz has negotiated and granted almost $900 million in CCTC awards to 1,099 California businesses projected to create more than 99,000 California jobs and make $19 billion in new investments in the state.
CIG INSIGHTS: Those interested in applying now should be mindful that the application window will only remain open for 22 days, so time is of the essence.
CIG EXPERTISE: Led by Alex Tran and Leslie McBride (former GO-Biz Executive Director), our team of CCTC experts have represented more than 45 businesses to approximately $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 processing, 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 your business is contemplating growth in California and interested in learning more about this program, please reach out to us for a complimentary assessment.