closed

California Competes Grant Round 2

Governor's Office of Business and Economic Development · 80897

Eligibility details

In order to be eligible to apply, a business must commit to at least one of the following criteria: 1. create at least 500 new, full-time jobs in California, or 2. invest at least $10 million in facility construction/renovation, or 3. create the jobs or make the investments in an area of high unemployment and/or high poverty as defined by the California Competes regulations

Matching funds & resources

Source matching-funds field: Not Required.

Matching funds and leveraged resources are different requirements. Read the description and reviewed rules below before determining resource commitments.

About this opportunity

The primary goal of the CCGP is to incentivize businesses to choose California and to create quality, full-time jobs in the state. A significant priority for this grant program is to make resources available to businesses for whom a non-refundable tax credit would not provide a significant financial benefit. The CCGP was specifically created for two types of businesses: (1) businesses that continuously reinvest profits, generating either significant research and development tax credits and/or net operating losses resulting in little to no tax liability; and (2) startups with little to no tax liability. While there are no geographic or sector-specific restrictions, the purpose of the California Competes Grant Program is to attract and retain high-value employers in California in industries with high economic multipliers and that provide their employees good wages and benefits.

Funding geography: There are no geographic limitations or restrictions, however, all employment growth and investments must take place in California. For businesses that qualify to apply via the high unemployment or high poverty designation, at least 75% of the employment growth must occur in the qualifying high poverty or high unemployment city or county.

Funding instrument: Grant. Issuing jurisdiction: California. This is not a geographic eligibility determination.