The Governor’s Office of Business and Economic Development has released two very important sets of rules regarding business incentives available through the state.
First, the California Venues Grant Program is open for applications through November 19, 2021, and applicants can apply at www.cavenuesgrant.com.
Second, guidelines for the allocation of $150 million in Cal Competes Grants and proposed rules for the California Film & TV Tax Credit Program 3.0 are posted here. The application period will start on January 3, 2022, with $120 million available. Applications must be submitted by Monday, January 24, at 11:59 p.m. The online application can be accessed at www.calcompetes.ca.gov.
Eligible applicants must meet at least one of the following criteria:
- The applicant will create at least 500 new, full-time jobs in this state, determined based on an annual full-time equivalent, as defined in Section 8000 of Title 10 of the California Code of Regulations, as that section read on January 1, 2021.
- The applicant will make a significant infrastructure investment, defined as a project requiring construction or renovation expenditures of at least ten million dollars ($10,000,000) over no more than five years, in this state.
The applicant will create jobs or make investments in a high-poverty area or high-unemployment area, as those terms are defined in Section 8000 of Title 10 of the California Code of Regulations, as that section read on January 1, 2021, in this state.