CA Competes Tax Credits for San Diego Businesses
The following information has been provided to the Mission Hills BID by the City of San Diego Economic Development Department:
The Governor’s office of Business and Economic Development (Go-BIZ) has announced that it will be accepting applications for the next round of CA Competes Tax Credits beginning March 7, 2016. Up to $50.9M in tax credits will be available statewide for this upcoming round.
CA Competes is a State sponsored flexible tax credit program intended to promote job creation, business attraction, retention and expansion efforts in California.
CA Competes incentivizes businesses planning to move to CA; or expand existing business operations in the State. The program affords a unique opportunity for businesses in the San Diego region to capture valuable tax credits that can be leveraged against their State business income tax liability.
Over the past 24 months, several companies in the San Diego region have successfully secured tax credits through this program. These captured credits have provided these companies a direct cost savings that have translated into further business investments in the form of equipment and facility upgrades, new jobs, and higher employee wages.
The online application process will close March 28th.
For more information regarding CA Competes program, the online application process, or the GO-Biz office, please access the following link:
City of San Diego Economic Development Department
Business Development Division
Civic Center Plaza
1200 Third Avenue, 14th floor
San Diego, CA 92101