Assemblymember Quirk Highlights $90,000 in Tax Credits Awarded to Local Businesses

Thursday, June 18, 2015

SACRAMENTO – Assemblymember Quirk (D-20) today announced that $90,000 in tax credits was awarded to Control Air North, Inc. in Hayward. With the support of the tax credit, granted through the California Competes Tax Credit program, Control Air North, Inc. will add 48 additional full time employees in Assembly District 20.

“This program is rewarding innovative businesses. I’m glad to see that California is making investments in my district to create good-paying middle class jobs,” said Assemblymember Quirk. “I congratulate Control Air North, Inc. in being a recipient of this program.”

The California Competes program was created by state legislation from 2013 that shifted $750 million previously slated for California’s Enterprise Zones into a new program designed to ensure the creation of new jobs by encouraging businesses to locate or expand in California. 

In addition to the tax credits for job creation, the new program offers sales tax relief on the purchase of research and development equipment for life sciences and manufacturing equipment.  The amount of credits available will increase each year until 2018. Twenty-five percent of the credits are reserved for small businesses.

Businesses interested in the program can apply through the Governor’s Office of Business and Economic Development (Go-Biz).  Over $20 million in tax credits were awarded to California businesses in the 2013-14 fiscal year and almost $150 million was awarded in the 2014-15 fiscal year.
 
Elected in 2012, Bill Quirk brings his PhD in astrophysics and career as an educator and scientist to the State Assembly.  He is the Chair of the Assembly Committee on Public Safety and a member of the Committees on Agriculture, Appropriations, Revenue & Taxation, and Utilities & Commerce.