California Competes is available to businesses of any size, but twenty-five percent of the credits are reserved for small businesses with gross receipts less than $2 million. In addition to the tax credits for job creation, the new program offers sales tax relief on the purchase of qualified research and development equipment and manufacturing equipment.
The California Competes program was created through AB 93 and its companion bill SB 90, both adopted in 2013. Since the inception of the program, GO-Biz has awarded two companies from the 49th Assembly District over $1.5 million in total tax credits for their commitment to invest $61.5 million in California while creating 370 new jobs. While the next round of funds available is $75 million in tax credits, GO-Biz is authorized to award a total over $230 million for fiscal year 2017-18.
The California Competes application period is now open and will accept applications until Monday, August 21, 2017.
Artificial Intelligence – AI – is here, is everywhere, is leading business and job and education growth in LA’s Creative and Manufacturing economy as elsewhere. Education, Autonomous Cars, Image Recognition, Moblie Apps, Data Analysis . . . Speakers from Honda, IBM, Netflix, UC Berkeley and USC. Report is posted on our Tech Corner page here.
Luckily for the Verdugo Workforce Development Board nominating committee, WIOA does not require members to have experience in a majority of the Board’s areas of service and responsibility: public and private sectors, business, labor, individual job seekers, and fostering career pathways in public schools. But if it did, Debbie Kukta would more than qualify, with a resume that includes more than 25 years in manufacturing, seven years on the Burbank school board, work as a CPA and managing commercial real estate, and since 2012, serving as the Burbank City Treasurer.
Kukta, who started her service on the VWDB in 1999, did not set out on a clearly defined career path toward chairing the VWDB, nor did she aim to become City Treasurer. “I would never have imagined handling all those investments!” Kukta told me when we met recently for breakfast. But she appreciates how her variety of experience, combined with a willingness to take on new challenges, paved the way to her current responsibilities.
So far in 2017, Verdugo Job Center staff have participated in the City of Glendale’s resource street fair for the senior citizen’s called Senior Street Fair – and, on two occasions, in the Glendale adult school’s Garfield campus Resource Fairs.