These documents have been updated to address recent statutory changes to the program.Ībout the California Governor’s Office of Business and Economic Development An application guide, Frequently Asked Questions (FAQs), program regulations, and a downloadable version of the webinar presentation are available here. The online application can be accessed starting January 3, 2023, at Members of the CCTC team are available to provide technical application assistance ( / 91). (Pacific Time) and the online application website will automatically close once this deadline has passed. The deadline to submit applications is Monday, January 23, 2023, at 11:59 p.m. Businesses interested in applying can register to view a live webinar explaining the application process.
The next California Competes Tax Credit (CCTC) application period starts Tuesday, January 3, 2023, with $120 million in available tax credits. GO-Biz Hosting Webinars for Businesses Interested in Applying for $120 Million in Tax Credits Tax credit agreements are negotiated by GO-Biz and approved by a statutorily created “California Competes Tax Credit Committee,” consisting of the State Treasurer, the Director of the Department of Finance, the Director of GO-Biz, and one appointee each by the Speaker of the Assembly and Senate Committee on Rules.
The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California and create quality, full-time jobs. For more information, click here.įor more information about resources to grow your business in Fairfield, please contact the Economic Development Division staff at 707.428.7462 or California Competes The City of Fairfield also offers the Statewide Community Infrastructure Program (SCIP) which is sponsored by the California Statewide Communities Development Authority (CSCDA) and is an economic development tool that allows property owners to finance development impact fees for a construction project through tax-exempt bond financing over a 30-year period. Staff is very experienced in both private and public funding options. The City of Fairfield's Guide to Business Financing outlines the various types of financing available to persons or businesses in Fairfield through various agencies, lending institutions, and other sources, including the City of Fairfield. The City also operates a direct loan program which provides "gap" financing. The City has a well-established track record in this area. The City can also serve as a conduit for either tax-exempt or taxable industrial bond financing, through California Communities or the Fairfield Industrial Development Authority. The level and scope of financial assistance is determined by the number and quality of jobs, and capital investment that a new or expanding company may bring to Fairfield as well as other factors.Īssistance can include, but is not limited to, land write downs, direct loans, and other types of assistance and/or the financing or deferral of development impact fees. The City of Fairfield believes that all types of financial assistance should be determined on a case-by-case basis. The level and scope of financial assistance is determined by the number and quality of jobs and capital investment that a new or expanding company may bring to Fairfield, as well as other factors.
The City of Fairfield provides financial incentives to businesses moving to Fairfield or expanding an existing Fairfield business on a case-by-case basis.
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