Sacramento, California - Building upon California’s nation leading job creation, the Governor’s Office of Business and Economic Development (GO-Biz) today announced that the California Competes Tax Credit (CCTC) committee approved $49.8 million in tax credits for 63 companies expanding and creating jobs in California. The awards will help these companies create a projected 11,340 jobs and generate over $3.4 billion in investment across California.  The complete list of approved companies and award amounts can be found here.

“The California Competes tax credit continues to encourage companies to invest and create high quality jobs in California,” said committee chair Mike Rossi. “While other states are scrambling to piece together unsustainable incentives, California has diversified its portfolio of targeted economic development tools and is seeing increased job creation as a result.”
 
Rossi, senior jobs advisor to Governor Brown, convened the committee meeting at the Sacramento City Hall which includes Treasurer John Chiang, director of the Department of Finance Michael Cohen, Senate appointee Denise Zapata and Assembly appointee Madeline Janis.

"The $50 million in tax credits being awarded today will aid business expansion and, importantly, grow middle-class jobs," said Chiang.  "With the state's economy continuing to heat up, this funding will enable even more economic growth in communities throughout California."
 
The California Competes Tax Credit was created by Governor Brown and is focused on helping businesses grow and stay in California. This fiscal year, GO-Biz has allocated approximately $150 million to 212 companies that are projected to create over 29,400 jobs and make over $7.1 billion in investments. Companies interested in applying for California Competes tax credits can apply during the next application round which will be announced later this month. Applicants complete a free, user friendly application available on-line at www.calcompetes.ca.gov.