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California Offering Tax Credits to Growing Companies

 
California Offering Tax Credits to Growing Companies
Posted Friday, June 20th 2014 @ 8am  by KFBK News

Twenty-nine businesses, $29 million. The state's offered up tax credits to growing companies.

The California Competes program has awarded the credits to companies that have agreed to expand or retain jobs up and down the state.

They range from $20,000 for a biotech firm in Novato to $6 million for Samsung, with the amounts being determined according to the governor's office with a forumla based on jobs created, average wage and strategic importance.

In all this year, businesses signed up to create nearly six thousand jobs over the next five years.

The fund was established after lawmakers shut down the state's Enterprise Zone program.

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