California Awards $150 million in Tax Credits Projected to Create More Than 7,600 Jobs
4 Nov 2021
Sacramento, CA – The Governor’s Office of Business and Economic Development (GO-Biz) today announced $150 million in tax credits that are projected to create more than 7,600 new, full-time jobs in California. The funding, from the California Competes (CalCompetes) Tax Credit program will bring more than $1.2 billion in new investments across the state over the next 5 years. CalCompetes plays a pivotal role in helping innovative startups to grow to scale and to choose California for their long-term home.
“California Competes is an important program that attracts and retains employers, who in turn create good-paying jobs and economic opportunity for California workers.” said Dee Dee Myers, Senior Advisor to Governor Newsom and Director of GO-Biz. “These tax credits will incentivize the creation of thousands of new, quality full-time jobs and much-needed investment across our state.”