Opportunity Title:
The California Competes Tax Credit (CCTC) and Grant Program (CCGP)
Description:
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.
Eligibility:
To be eligible to apply for a CalCompetes Grant, applicant must answer "yes" to at least one of the three Grant eligibility questions listed below:
Will the applicant create at least 500 new, full-time jobs in this state, determined on the basis on an annual full-time equivalent, as defined in Section 8000 of Title 10 of the California Code of Regulations?
Will the applicant make a significant infrastructure investment, defined as a project requiring construction or renovation expenditures of at least ten million dollars ($10,000,000) over no more than five years, in this state?
Will the applicant create jobs or make the investments in a high-poverty area or high-unemployment area, as defined in the Section 8000 of Title 10 of the California Code of Regulations?
The applicant may only apply for the Tax Credit or the Grant, but may not apply for both in the same application period.
Total Amount Available:
$104,700,000 plus any remaining unallocated amounts from the previous application periods.
Application Deadline:
March 28, 2022
Grant Management Associates has years of experience with opportunities like this one. Contact us today for a consultation.
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