California will issue more than $200 million in corporate income tax credits to 17 companies across the manufacturing, green energy, and technology sectors, Gov. Gavin Newsom’s (D) office announced Wednesday.
The state also rescinded $36 million in previously issued awards from a handful of companies, including financial services platform Stripe Inc.
The California Competes Tax Credit started in 2013 as a way to draw companies to the state and help those already there 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.
The latest round of ...
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