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GO-Biz Approved 56 Out Of 56 Cal Competes Credit Applications

On January 15, the California Competes Tax Credit Committee met to make final determinations on the second ever round of California Competes applications. All 56 agreements considered were awarded for a total of about $31 million. A 57th applicant who had made it through the first round and was originally on the agenda for consideration removed themselves before the meeting. The final list of approved agreements can be found here.

GO-Biz is authorized to award $151 million in California Competes tax credits for fiscal year 2014/2015. This amount has been broken down into three rounds with $45 million available for the round decided yesterday. Since only $31 million was awarded in this first round, the remaining $14 million will roll to the third round later this year, according to a GO-Biz representative. Applications are being accepted now through Feb. 2, 2015 for the second round with $75 million available.

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