The California Competes Tax Credit committee approved $91.4M in tax credits for 114 companies, which will help them create a projected 8,223 jobs and generate over $828M in total investment across California. Also Gov. Jerry Brown signed into law the Road Repair and Accountability Act of 2017, a $52.4B infrastructure program to fix roads, freeways and bridges, as well as more money for transit and safety.
Offers incentives to all sectors except retail.
California Governor’s Office of Business and Economic Development
“The taxes at the state and local level are nuts. It’s not just income taxes—it’s property taxes, impact fees, review fees, license fees, you name it—California has a fee for everything. And the worst part is the state spends a big chunk of that revenue on providing benefits and support to illegals as well as other far left boondoggles. It’s absolutely a terrible place to do business. The government bureaucracies are 100% irrational and indifferent to the actual demands of running a business. They use fees to build more bureaucracy, which contributes absolutely nothing except allowing them to charge more fees and put more regulations in place.”
“Even though there are many challenges for business in California, it remains a hot bed of opportunity and innovation for businesses. Its collaboration with businesses in other countries, such as Mexico, China, Japan and various European countries, allows it to create new ideas and expand the delivery of new products and services more easily. This includes the development of new technologies and research projects in bio-pharma, high-tech, education and healthcare.”