Its been less than a year since lawmakers discontinued enterprise zones, Californias longtime program to provide hiring tax credits to businesses.
And now demand for its successor program, California Competes, has gone through the roof: Applications total $559 million for only $30 million in credits available this year.
Gov. Jerry Browns Office of Business Development this week notified 396 applicants who had applied between March 19 and an April 14 deadline.
The demand for these tax credits demonstrates that there are a significant number of companies looking at expansion opportunities in California, Will Koch, the deputy director for California Competes, said in a statement Thursday. We encourage any company looking to expand their existing business in the state, or interested in relocating to California, to apply when we open the application period again next fiscal year.
The income and franchise tax credits are available for businesses interested in relocating to California, as well as existing California businesses seeking retention credits meant to keep jobs in California.
The Assembly last week unanimously approved a measure that would nudge the state toward leaving its problem-plagued Board of Equalization building. Assembly Bill 1656 by Assemblyman Roger Dickinson, D-Sacramento, would authorize the Department of General Services to spend up to $3 million to pick a site and develop agreements for a new building. The facility would house 2,200 employees now working in the boards N Street headquarters, plus about that many more in satellite offices.
Putting government warning labels on more than 500 beverages will do nothing to change personal behaviors to teach people about healthy lifestyles.
Calbev, the soft drink industrys California arm, opposing a bill requiring labels on sugary drinks.