California Competes Tax Credit

The California Competes Tax Credit is a financial incentive program designed to attract and retain businesses in California. It offers tax credits to companies that plan to create new jobs or make significant investments in the state. Businesses apply for these credits through a competitive process, and awards are based on factors like job creation, investment amount, and economic impact. Essentially, it reduces a business’s tax burden in exchange for commitments to contribute to California’s economy, helping to foster growth and employment opportunities within the state.