Economic Uncertainty Dampens California Jobs Tax Credit Awards

California officials canceled or reduced about the same amount of business income tax credits as they gave out to companies promising to create jobs in the state on Thursday, continuing a trend that they said reflects an uncertain economy.

Companies continue to apply for the California Competes tax credit, but few of the applicants can demonstrate that a credit award is a material factor in their decisions to expand in California, Assistant Deputy Director Jee Liyanage said at a meeting of the committee that oversees the program. At the same time, many companies aren’t planning to grow due to ...