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Renewable Energy Tax Credits

can offset the cost of your investment

Tax credits and incentives for renewable energy technologies can pay for 40 - 60% of the cost of your investment.

CALIFORNIA Competes tax credit (CCTC):

state credit for growing employers

The California Competes Tax Credit represents a significant opportunity for businesses seeking to establish, remain, or expand within California. This initiative offers an income tax credit as a financial incentive, encouraging economic growth and job creation in the state.

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Over $490M in Tax Credits Available for Your Business Growth

Are you a business looking to launch, grow, or stay in California? The California Competes Tax Credit (CCTC) is a game-changer for companies across industries and sizes. This lucrative incentive is designed to fuel economic development and job creation within the Golden State.

Growthlogics provides expert guidance through the CCTC application process, enhancing your application's success by focusing on critical evaluation areas. Our approach simplifies the complex application landscape, ensuring your business's key strengths are showcased. With Growthlogics, your business can effectively navigate the application, maximizing your opportunity to secure vital tax credits for growth in California.

What is the California Competes Tax Credit (CCTC)?

The California Competes Tax Credit (CCTC) is a state-sponsored income tax credit that incentivizes business establishment, retention, and growth in California, offering over $180 million in tax credits for fiscal year 2023-2024 through three application periods. This program evaluates applicants on 14 criteria, including job creation, investment scale, and strategic regional impact. Whether you’re a startup or an established player, the CCTC can provide the financial boost needed to propel your business forward.

What are the application periods for the California Competes Tax Credit (CCTC)?

Businesses interested in the CCTC must apply during one of the three application periods each year. For the fiscal year 2023-2024, the Governor's Office of Business and Economic Development (GO-Biz) is set to open the application window for the California Competes Tax Credit on these dates:

First Round: July 24, 2023, to August 14, 2023, with $164 million in tax credits and an additional $120 million in grants available. This initial phase offers a substantial funding pool to kickstart the fiscal year's applications.

Second Round: January 2, 2024, to January 22, 2024, offering another $164 million in tax credits. This mid-year opportunity allows businesses to apply for substantial financial incentives as they plan their growth strategies for the year.

Final Round: March 4, 2024, to March 18, 2024. This last phase not only has $164 million in tax credits available but also includes any remaining unallocated funds from the previous rounds, potentially increasing the pool of available credits.

What are the evaluation factors for the California Competes Tax Credit (CCTC)?

The selection process is rigorous, evaluating applicants on various factors including job creation, investment amount, and the project’s strategic significance to the state and local communities. The award is based on 14 evaluation factors including:

Number of jobs created or retained
Compensation paid to employees
Amount of investment
Duration of proposed project and commitment to remain in this state
Extent of unemployment or poverty in business area
Extent the benefit to the state exceeds the amount of the credit
Incentives available in other states
Opportunity for future growth and expansion
Other incentives available in California
Overall economic impact
Strategic importance to the state, region, or locality
Training opportunities offered to employees
Commitment to treating workforce fairly and creating quality, full-time, wage and salary jobs
Extent to which the credit influences the applicant’s decision to relocate jobs into California from states that have enacted laws that:
Permit discrimination on the basis of sexual orientation, gender identity, or gender expression; or
Deny or interfere with women’s reproductive rights

CALIFORNIA Competes tax credit:

How can Growthlogics help with the application process?

Navigating the CCTC application process can be challenging, but with strategic planning and a strong application, your business can significantly benefit from this program. Here’s where partnering with a knowledgeable ally like Growthlogics can make a difference. Our team specializes in tax credits and business incentives, offering tailored advice and support to highlight your business’s impact and potential, ensuring your application stands out.

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Streamline the process of identifying and claiming tax credits, empowering your organization to reinvest savings into strategic initiatives that drive innovation, create jobs, and ensure long-term success.

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California Competes Tax Credit

California Competes Tax Credit

The California Competes Tax Credit is more than just a tax benefit; it's an opportunity to fuel your business's growth and solidify your presence in one of the world’s most dynamic economies. If you’re ready to take your business to the next level in California, exploring the CCTC is a step in the right direction. With expert guidance and a strategic approach, your business can capture the benefits of CCTC, turning potential into success.

Dive deeper into how the CCTC can transform your business journey in California. Contact us at Growthlogics today, and let’s unlock your business’s growth potential together.

Led by Tax Attorneys, CPAs & Credit Experts

Our leadership has over 150 years of combined tax experience. With $3 billion in incentives captured, you are in good hands with GrowthLogics.

Quality Guaranteed

Growthlogics provides clients with a comprehensive credit packet, detailing your business's eligibility, qualifications, and calculated credits.

Maximum Credit Yield

When you work with Growthlogics, all tax credit and incentive opportunities are explored with a comprehensive business analysis, uncovering full eligibility potential.