Next Round of California Competes Tax Credit Now Open; Deadline Approaching

Written By Hickey Team

California Competes Tax Credit application round closes on January 27th, 2025

Is your business growing, expanding, or locating in California? The next round for California’s premier incentive program, California Competes Tax Credit, will have a nearly one-month long application window from January 6, 2025 to January 27, 2025. Competition for incentives will be fierce, as there is $215 million in tax credits allocated for this round.

SNAPSHOT

  • State income tax credits available for growing California businesses

  • 2024 year-to-date awards are nearly $50,000 per new job in tax credits

  • Current application period is only open from January 6, 2025 to January 27, 2025

EVALUATION CRITERIA

  • Number of jobs created or retained

  • Amount of investment

  • Employee compensation

  • Tax credit impact on future California job creation

  • Commitment to stay in California

  • Future growth and expansion opportunities

  • Extent of unemployment and poverty at the current / proposed site

  • Strategic importance and economic impact to California, the region, or local community

  • Impact that the tax credit may have on relocating jobs into California from other states

  • Other incentives available from California and other states/communities

CONNECT WITH THE HICKEY’S CALIFORNIA INCENTIVES TEAM

The Hickey & Associates incentives team in California has advised companies navigating the California Competes Tax Credit application process, including securing incentives, in addition to other California incentive programs. With the current application period opening soon, and closing on January 27, 2025, contact us to learn more about the California Competes program, other California incentives available, and your project’s eligibility.

Hickey Team

Hickey & Associates makes learning about commercial site selection easy. We share information in writing and through videos and images, covering topics like grants and incentives advisory, location strategy, and supply chain logistics. Our team helps you find the best places for your business, get financial benefits, and make your supply chain work better. We are here to make complicated things simple and beneficial for your business's growth.

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