The Governor’s Office of Business and Economic Development (GO-Biz) is now accepting applications for the California Competes Tax Credit (CCTC) and California Competes Grant Program (CCGP). This is the initial application round for fiscal year 2022-2023 with $85M of CCTC and $120M of CCGP available to business taxpayers. The CCTC is a state income tax credit rewarding businesses that project the following over the next 5 years:
- Creating full-time jobs
- Purchasing or leasing real and personal property
The CCGP is a cash grant and applicants must satisfy at least one of the following criteria:
- Creating 500+ new full-time jobs in California
- Making a $10,000,000+ capital investment
- Locating the project in a high-poverty or high-unemployment area
The deadline for this round is Monday, August 15, 2022, at 11:59 (PDT). You can find additional information in this CCTC FAQ and CCGP FAQ. Please do not hesitate to contact us if you have any questions or require assistance.