Four California Chamber of Commerce member companies have been selected by the Governor’s Office of Business and Economic Development (GO-Biz) as recipients of the California Competes Tax Credit.
The California a Competes Tax Credit (CCTC) committee recently approved $57 million in tax credits for 29 companies expanding and creating jobs in California.
The awards are projected to create 3,105 jobs and make $336 million worth of new capital equipment investments across California.
CalChamber members being awarded credits in this round include:
- California Natural Products, Lathrop; nutrition and health food manufacturing;
- Chawk Technology Intl., Inc., Hayward; plastic component manufacturing;
- Ontic Engineering and Manufacturing, Inc., Los Angeles; aerospace component manufacturing;
- S&E Gourmet Cuts, Inc., San Bernardino; food manufacturing.
In 2013, Governor Brown created the California Competes Tax Credit to focus on helping businesses grow and stay in California. Since 2014, GO-Biz has allocated $759 million to 957 companies projected to create 93,109 new jobs and make $17.4 billion in new investments.
The complete list of approved companies and award amounts is posted at business.ca.gov.