Competition is inevitable and businesses aren’t the only entities that have to compete. Since the economic downturn many states have been competing for your business by offering incentives such as tax holidays, training credits, reduced power costs and other credits.
While at the Walmart US Manufacturing Summit in Denver last August I, spoke to representatives from over 30 states about what they were doing to bring manufacturing to their state. My favorite slogan at the time was “Made in the USA – Perfected in Mississippi” but I have to admit that “Cal Competes” is now gaining ground..
Cal Competes refers to the new The California Competes Tax Credit, an income tax credit available to businesses that want to come to California or stay and grow in California. Tax credit agreements will be negotiated by GO-Biz and approved by a statutorily created “California Competes Tax Credit Committee”. According to the