Business & Real Estate

New site offers businesses tax credits, other incentives

California state Treasurer John Chiang, , Saturday, May 20, 2017, in Sacramento, Calif. (
California state Treasurer John Chiang, , Saturday, May 20, 2017, in Sacramento, Calif. ( AP

California State Treasurer John Chiang on Thursday formally launched an online site that aims to connect business owners and entrepreneurs with incentives to help them grow and create jobs.

The California Business Incentives Gateway – CBIG.ca.gov – is designed to enable in-state businesses to apply for various incentives, including those overseen by the treasurer’s office, such a tax credits, loans and bond financing.

Incentives on CBIG also include sales tax exclusions, training grants, fee waivers, permit assistance, reduced utility rate options and employee recruitment assistance.

Officials said counties, cities and municipalities have been loading the site with incentives during a beta trial over the past year.

“California is launching its version of Amazon or Angie’s List, but instead of connecting people with products or services, we will be connecting businesses – ranging from local mom-and-pops to multinational corporations – with the economic incentives, permitting assistance and employee training that they need to grow and prosper,” Chiang said in a statement.

Officials compared the new site to an online shopping site, with easy access to myriad options. Businesses can search for incentives by location or industry.

Chiang’s office said the number of incentives uploaded to the site so far has surpassed initial projections and is expected to accelerate as awareness of the site spreads.

Mark Glover: 916-321-1184, @markhglover

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