Fourteen California Chamber of Commerce member companies have been selected by the Governor’s Office of Business and Economic Development (GO-Biz) as recipients for the California Competes Tax Credit.
The CCTC committee recently approved $70 million in tax credits for 103 companies expanding and creating jobs in California. The awards will help these companies create a projected 9,369 jobs and generate more than $1.3 billion in investment across California.
CalChamber members being awarded credits in this round include:
- Nordstrom, Inc., online order fulfillment warehouse and retail distribution.
- ATK Space Systems, Inc., aerospace component manufacturing.
- Hunter Industries Incorporated, irrigation and sprinkler manufacturing.
- Baker Electric, Inc., solar power system design, construction, and installation.
- Standard Homeopathic Company, homeopathic pharmaceutical manufacturing.
- Small World Trading Co., personal care product manufacturing.
- Matson, Inc., freight transportation and management services.
- Daylight Transport LLC, freight transportation services.
- DataStax, Inc., information technology consulting and data center management.
- Martin Brothers Construction, highway, street, and bridge construction.
- North State Electrical Contractors, Inc., electrical contracting.
- Williams + Paddon/Architects + Planners, Inc., architectural services.
- Escape Technology, software development
- MW McWong International, Inc., commercial LED lighting manufacturing
The complete list of approved companies and award amounts can be found here.
In 2015, GO-Biz allocated approximately $150 million to 212 companies that are projected to create over 35,000 jobs and make over $9.1 billion in investments.
About California Competes
The California Competes tax credit, focused on helping businesses grow and stay in California, is part of the Governor’s Economic Development Initiative, which Governor Edmund G. Brown Jr. signed legislation to enact in 2013 (AB 93 and SB 90). GO-Biz evaluates the most competitive applications based on the factors required by statute, including total jobs created, total investment, average wage, economic impact, strategic importance and more. Companies are exempted from paying state income taxes in the amount awarded.
This fiscal year, GO-Biz is awarding $200 million in tax credits through three award rounds. GO-Biz just concluded the final application period for the 2015-16 fiscal year. The committee will meet on June 16 to vote on the awards.
Applicants are encouraged to apply for awards starting next fiscal year by completing a free, user-friendly application available on-line at www.calcompetes.ca.gov