California Awards $100 Million in Tax Credits for Manufacturing

Several manufacturing companies are being awarded $99.9 million from the California Competes Tax Credit, Gov. Gavin Newsom’s office announced Monday.

The income tax credit, started in 2013, is intended to bring companies to California and help those that already have operations in the state expand by incentivizing investments and job creation. The credit is awarded by the Governor’s Office of Business and Economic Development, known as GO-Biz.

In this round of funding, nine companies received awards that the governor’s office says will result in “2,752 new jobs with an average weighted annual salary of $139,000, and will bring in more ...