The Governor’s Office of Business and Economic Development will award more than $200 million in California Competes Tax Credits within the next year. The tax credits are for businesses that want to move to California, or continue to stay and develop. On July 20, the first $75 million became available, and an additional $75 million will become available in January. Any unallocated funds will be added to the $50.9 million that will become available in March.

Credits are available to businesses that relocate, grow or stay in California. Businesses that have previously applied may resubmit through a streamlined process. Awards have ranged from $20,000 to $6 million and have been granted to businesses across the State. A list of awardees and the amount of their awards can be found here. Each award amount is primarily based on plans for employment growth, capital investment and economic impact on the State.

The online application must be submitted by Aug. 17 to be considered for the first $75 million. The application automatically closes once the deadline has passed. For more information, click here for an application guide, frequently asked questions, program regulations and an informational video.