Page 22 - FDI Alliance International Magazine | September 2018 1

GOVERNOR

JERRY BROWN

STATE OF

CALIFORNIA

Today, California is the 6th largest economy in the cessing resources or learning more about financing size of companies or the geographic location where
world and continues to lead the nation in several key opportunities and incentives in California. they intend to do business. Additionally, the program
metrics, including: job growth, foreign direct invest- The list of services offered at GO-Biz ranges from sets aside 25% of available credits in a fiscal year for
ments and venture capital deals. In addition, Cali- navigating federal, state and local incentives and companies with revenue under $2 million during the
fornia has the largest corporate tax credit program in permit requirements; connecting foreign investors base tax year of when they apply for the credit.
the country, the largest film credit, the largest tourism with California projects; overseeing the state’s 14 For investors or businesses abroad, the GO-Biz
marketing budget and was the first state to offer on- Innovation Hubs (iHubs); and managing the state’s International Affairs unit oversees activities related
line applications for business incentives. Moreover, highly successful California Competes Tax Credit to the Governor’s international business and trade
Governor Brown’s climate action and sustainability program. investment MOUs. These MOUs provide the frame-
goals are spurring innovation in emerging technolo- work for bilateral cooperation ensuring businesses,
gies that will reduce greenhouse gas emissions and What is the California Competes Tax Credit Pro- investors, researchers and educators have the re-
energy consumption while laying the foundation for gram? For businesses planning job growth and sources and contacts they may need to build part-
California’s ‘green’ economy. investment, the California Competes Tax Credit nerships that will lead to economic opportunities. As
program provides a credit against current and fu- mentioned above, California remains the number
Leading California’s activities to encourage private ture tax liability based on a company’s projected net one state for attracting foreign direct investments
sector attraction and expansion is the Governor’s new jobs and capital investments in each year over and as of 2016, internationally based companies
Office of Business and Economic Development a five year period. Since 2014, GO-Biz has allo- employed 561,000 California workers and were
(GO-Biz). GO-Biz is the one-stop shop for investors, cated $555.3 million to 775 companies projected responsible for 4.6 percent of the state’s total pri-
businesses, site selection consultants and all eco- to create 77,178 new jobs and make $14.5 billion vate-industry workforce.
nomic development stakeholders interested in ac- in new investments. There are no restrictions on the
22 FDI ALLIANCE | SEPTEMBER ISSUE 2018