California Competes Grant Program January 2022 Tax News

Offers businesses grants that want to locate or stay and grow in California

The California Competes Grant Program is available to businesses that want to locate or stay and grow in California. Grant agreements are negotiated by the Governor's Office of Business and Economic Development (GO-Biz) and approved by a statutorily-created California Competes Tax Credit (CCTC) Committee.

The Committee consists of:

Director of GO-Biz (Chair)
State Treasurer
Director of the Department of Finance
One appointee each by the Speaker of the Assembly and Senate Committee on Rules

The grant is available to businesses of any size that meet at least one of the following criteria:

Will create at least 500 new full-time jobs in California.
Will make construction or renovation expenditures of at least $10 million.
The project will take place in an area of high unemployment and/or poverty as defined in the CCTC regulations.

For Fiscal Year 2021/2022, $120 million is available for allocation. The maximum grant award is $36 million. Applications for the grant will be accepted at calcompetes.ca.gov from January 3, 2022, until January 24, 2022.

Visit GO-Biz's Program webpage for more information on the California Competes Grant, Grant Guidelines, and Webinar schedule.