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Economic Development Collaborative (EDC) — California Competes Tax Credit and Grant Program

by Community Contributor • January 11, 2022 • Comments Off

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CALIFORNIA COMPETES TAX CREDIT & GRANT PROGRAM

Application Window Closing on January 24

The California Competes Tax Credit (CCTC) and Grant Program (CCGP) are available to businesses that want to locate in California or stay and grow in California. Businesses of any industry, size, or location compete for over $180 million available in tax credits by applying in one of the three application periods each year. Applicants will be analyzed based on twelve different factors of evaluation, including number of full-time jobs being created, amount of investment, and strategic importance to the state or region.

Application Period Timeline: For the remainder of the fiscal year 2021-2022, GO-Biz will accept applications for the California Competes Tax Credit during the following periods:

January 3, 2022 – January 24, 2022
March 7, 2022 – March 28, 2022

Please refer to the Notice California Competes Tax Credit Fiscal Year 2021-22 for more information.

For additional guidance with the CCTC or the CCGP CLICK HERE.

New to the Program?

EDC SBDC NO-COST CONSULTING:

EDC SBDC Financial Advisor Anthony Elliott can provide guidance with the CCTC and CCGP. Anthony is a Certified Public Accountant, and consults with EDC SBDC small business clients on a broad range of finance, accounting and tax related topics.

California Competes Webinars: Prior to each application period, GO-Biz hosts online webinars about the California Competes program. All businesses are encouraged to participate in the webinars to review the program and receive instructions on how to apply. Below is a list of upcoming webinars:

January 13, 2022 4:00 pm-5:00 pm PST Details and Registration

January 18, 2022 11:00 am-12:00 pm PST Details and Registration

Have additional questions? Please contact Go-Biz at: 916.322.4051 or email the Go-Biz Service Desk.

Additional Resources

Frequently Asked Questions
California Competes PowerPoint
California Competes Tax Credit Flyer – One page handout for parties interested in the CCTC program.
Application Guide – Instructions on how to complete each section of the California Competes application.
Application Tutorial Videos – 14-video playlist containing detailed instructional videos on how to complete the California Competes applications.
High Unemployment and Poverty Areas – List of every city and county that qualifies as a high unemployment and/or poverty area for the California Competes applications.
California Competes Tax Credit Regulations – California Code of Regulations for the California Competes Tax Credit program.
Franchise Tax Board Compliance Process – PowerPoint overview of the Franchise Tax Board’s books and records review process.

Looking for NO-COST Business Consulting Services?

The EDC SBDC call team and experienced advisors are available to answer questions and help you navigate today’s complex business environment. The Economic Development Collaborative hosts the Small Business Development Center and is funded in part through a cooperative agreement with the U.S. Small Business Administration. Signing up as a client takes just a few minutes and provides you with lifetime access to all of our no-cost services.

Get started today with no-cost consulting by calling our

Business Assistance Line at 805.409.9159.

Resources and advising are available in English and Spanish.

Stay up-to-date on local, state and federal resources related to the pandemic by visiting our COVID-19 Business Resource page regularly CLICK HERE.