A committee of the Governor’s Office of Business and Economic Development, or GO-Biz, will meet in Sacramento Thursday to vote on $91.4 million in tax credits for more than 100 eligible businesses.
The 114 businesses range from widely known companies such as General Motors, Safeway and Hulu to more than a dozen Sacramento-area firms.
In all, GO-Biz said the eligible businesses are projected to create 8,223 jobs and make $828 million in investments in California.
GO-Biz will meet to convene its California Competes Tax Credit committee at 1:30 p.m. at the California Department of Food and Agriculture Auditorium at 1220 N St.
The California Competes Tax Credit was created in 2013 by Gov. Jerry Brown as part of economic development provisions within approved legislation.
GO-Biz evaluates business applications based on factors that include projected job creation, in-state investment, average wages, economic impact and strategic importance.
Applications for the credit are available to businesses that want to locate or stay and grow in California. Tax credit agreements are negotiated between taxpayers and GO-Biz and are approved by the California Competes Tax Credit committee. The committee consists of the state treasurer, the director of the state’s Department of Finance, the director of GO-Biz, and one appointee each by the Speaker of the state Assembly and the state Senate Committee on Rules.
Greater Sacramento area companies eligible for awards on Thursday include San Francisco Spice Co. in Woodland; organic food firm Hodo Inc. in Sacramento; environmental consulting firm Plan Tierra LLC in Davis; Rocket Composites Inc. in West Sacramento; and information technology services firm N3X MSP Inc. in Yuba City and Roseville.
Since 2014, GO-Biz says it has allocated $401 million to 574 companies projected to create more than 62,500 jobs and make more than $13.6 billion in investments.