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California Competes Workshop Comes to Moreno Valley
Up to $100 Million in Tax Credits Available
to Spur Business Expansion

The City of Moreno Valley is proud to partner with the Governor’s Office of Business and Economic Development (GO-Biz) to host the California Competes Tax Credit (CCTC) workshop.

“I am excited that we have partnered up with GoBiz to bring the California Competes workshop to Moreno Valley, which presents an exciting opportunity for our community,” said Mayor Dr. Yxstian A. Gutierrez. “I strongly encourage local business owners to attend and learn how state tax credits can help fuel economic expansion and create jobs.”

The Moreno Valley workshop arrives just in time for the upcoming January 23rd deadline to compete for $100 million dollars available in this round of funding; $68.3 million will be available in the next. The workshop will be held at the Moreno Valley City Hall Council Chamber on December 19, 2016 from 3:00-4:30 p.m. City Hall is located at 14177 Frederick Street. Small, medium and large businesses from throughout the area are encouraged to attend and receive instructions from GO-Biz staff on how to apply for the Tax Credit.

Who Should Attend?
The purpose of the California Competes Tax Credit is to attract and retain high-value employers in California in industries with high economic multipliers that provide employees with highly competitive salaries and benefits. All businesses in any industry are encouraged to apply, especially small businesses.

Applications will be evaluated on the number of jobs created, strategic importance to the state and or region, the amount of investment, opportunities for future growth and expansion and economic impact.

Small Businesses Strongly Encouraged to Apply
With 25% of the CCTC designated for small businesses, all firms are encouraged to attend the workshop and evaluate whether the CCTC is right for their growth. Small businesses are defined as companies with gross receipts, less returns and allowances, of greater than $0 but less than $2 million in the business’s prior tax year.
 
About California Competes
The California Competes Tax Credit is the State’s premier tax incentive to expand businesses and retain operations in the Golden State. This fiscal year, GO-Biz is awarding $200 million in tax credits through three award rounds. Applicants are encouraged to apply for awards by completing a free, user friendly application available on-line at www.calcompetes.ca.gov.

About Governor’s Office of Business and Economic Development (GO-Biz)
Established in 2012 by Governor Brown, GO-Biz serves as California’s single point of contact for economic development and job creation efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit: www.business.ca.gov.

For more information about the workshop or to establish a business in Moreno Valley, please contact the Economic Development Department at EDTeam@moval.org or 951.413.3460.

Upon request, this news release will be made available in appropriate alternative formats to persons with disabilities, in compliance with the Americans with Disabilities Act of 1990. Any person with a disability who requires a modification or accommodation in order to participate in this meeting should direct such requests to, ADA Coordinator, at 951.413.3045 at least 72 hours before the meeting. The 72-hour notification will enable the City to make reasonable arrangements to ensure accessibility to this meeting.