Special Business Feature: California Competes Income Tax Credit Application Period Now Open
The Governor's Office of Business and Economic Development (GO-Biz) is now accepting applications for the California Competes Income Tax Credit. This tax credit is awarded to businesses that enable or incentivize creation of new full-time jobs. The Governor's Office has tentatively allocated $180 million for each FY 2018-19 through 2022-23. There are no fees to apply for this income tax credit.
New business that want operate in California, as well as businesses that wish to remain and expand in the Golden State are eligible to apply. Businesses of all sizes are invited to apply. For more details, view the informational flyer here.
July 30, 2018 to August 21, 2018
$70 million is available for this application period
Future Application Periods
January 2, 2019 to January 21, 2019 - Amount to be determined
March 4, 2019 to March 25, 2019 - Amount to be determined
How to Apply
1. Login to your business' California Competes Tax Credit Account or create an account here
2. Create an application
3. Complete and submit your application
Click the following links for additional information
The California Enterprise Development Authority (CEDA) is a Joint Powers Authority (JPA) created in 2006 to address gaps in economic development financing. CEDA facilitates the issuance of private activity bonds for the purpose of economic and community development.
Tax-Exempt Financing for Manufacturers and Non-Profit PACE Financing for Energy & Conservation Upgrades Statewide Revolving Loan Funds for Small Businesses
SBDC programs are specifically designed to meet the needs of small businesses in their chosen industry.
General Business Education & Workshops
Individual Business Assistance
Business Plan Assistance
Sales & Marketing Advising
SBA Loan & Investment Guidance
Score helps Small Business owners solve their business challenges two ways; by consulting with them, and with our highly valued classes. Our counselors, all experienced volunteers, bring decades of practical knowledge from a variety of business disciplines and industries. They often serve as sounding boards on management and sales issues.
Business Owner Space is a small business resource page focusing on Silicon Valley Businesses. Visit the Business Owner Space webpage for information on how to start, grow and sustain your business within the Silicon Valley.
Work2future addresses the workforce and economic development needs of the Silicon Valley, in collaboration with small and large businesses, educational institutions and community-based organizations. Work2future offers services and resources that:
Help job seekers obtain the skills and training they need to find a job
Assist businesses in meeting their workforce and economic development needs
Enable youth to jump-start their career with skills training and job search assistance
NOVA provides customized services to jobseekers and business in Silicon Valley through its three job centers in Sunnyvale, San Mateo, and San Bruno. The NOVA Job Center works closely with local businesses to ensure that its programs provide opportunities that build the knowledge, skills, and attitudes necessary to address the workforce needs.
Work with local government. Get Government contracts.
Learn about current bid and contract opportunities with the City of Campbell that are available to consultants, service providers, contractors, vendors, or suppliers.
The Santa Clara Valley Water District works closely with small and local businesses to help accomplish our mission to provide Silicon Valley safe, clean water for a healthy life, environment, and economy. The district purchases approximately $40 million a year in goods and services, and actively encourages small and local businesses to participate in these opportunities.
The City of San José is committed to promoting opportunities with local and small businesses. It is the policy of the City of San José to encourage local and small business activity. The City established a Local and Small Business Preference Policy for the procurement of supplies, materials, equipment and services.
The VTA has in place business diversity programs that include the Disadvantaged Business Enterprise (DBE) Program for federally funded projects, the Small Business Enterprise (SBE) Program for state funded projects and the Minority and Women Owned Business Enterprise (MWBE) Program for locally funded projects. Through these diversity programs VTA assists certified businesses seeking construction, purchasing and professional services contracts.
Go Green. Reduce expenses through environmentally sustainable business practices.
The Santa Clara County Green Business Program is part of a statewide Green Business network that certifies businesses that have incorporated environmentally sound practices into their business operations.
Silicon Valley Energy Watch implements PG&E programs to help Santa Clara County businesses of all types make energy efficiency improvements and improve their bottom line.
Read this case study to learn how a Northern California manufacturing warehouse and transport facility reduced their facility's energy consumption by 38 percent with an annual energy savings of nearly $44,000!
PG&E offers interest-free loans for replacing old and worn-out equipment with more energy-efficient models. Loans range from $5,000 to $100,000* with up to five years for repayment.
Upgrade. Get edgy & boost business.
People are searching for your business online. Use Google's free and easy-to-use tools can help you connect with them. Join the Google small business community and get advice from industry experts. Watch Google's small business video series and pick up all sorts of tips. Build a free website with the help of StartLogic and receive the site and domain free for a year!
Financial Assistance. Get the capital you need to make business go.
At Working Solutions, it's not just about the money-- it's about building lasting relationships. They get to know all of their clients before and after they fund client's loan so they can develop a tailored mentorship and coaching plans for your business's needs.
The Kiva Zip community provides access to 0% interest loans and a community passionate about helping entrepreneurs. With over a million lenders, corporate sponsors, and local governments, our network will help you find the resources you need to grow your business.
The New Employment Credit (NEC) is available for each taxable year beginning on or after January 1, 2014, and before January 1, 2021, to a qualified taxpayer that hires a qualified full-time employee on or after January 1, 2014, and pays or incurs qualified wages attributable to work performed by the qualified full-time employee in a designated census tract or economic development area and that receives a tentative credit reservation for that qualified full-time employee. In order to be allowed a credit, the qualified taxpayer must have a net increase in the total number of full-time employees in California.
The Governor’s Office of Business and Economic Development (GO-Biz) was created by Governor Edmund G. Brown Jr. to serve as California’s single point of contact for economic development and job creation efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more.
The Office of the Small Business Advocate (OSBA) provides information and assistance to small businesses so they can succeed in the California marketplace. OSBA hosts workshops and webinars on varying topics. In partnership with GO-Biz’s Permit Assistance Unit, OSBA also convenes a State interagency working group to represent small business interests in the state’s regulatory policies. OSBA’s website provides a centralized list of small business resources for state procurement, loan programs, and business planning. Depending on the issue, OSBA’s staff can also refer small businesses to appropriate contacts in state government.