IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 18 Jun 2015 | Removal date: open ended
Still in force

Tax or social insurance relief

On June 18, 2015 GO-Biz awarded a California Competes Tax Credit of $15 million to Tesla Motors, Inc. in an agreement to manufacture electric vehicles, powertrain component, and batteries. In consideration for the credit, Tesla agreed to expand its operations at various locations throughout California, including Fremont, Palo Alto, Lathrop, and Hawthorne. Additionally, Tesla will invest in the purchase of real property, tenant improvements, manufacturing equipment, research and development equipment, and hire full-time employees as part of its expansion. The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California. Tax credit agreements are negotiated by GO-Biz and approved by a statutorily created California Competes Tax Credit Committee.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

444 Machinery for mining, quarrying & construction; parts
8704 Motor vehicles for the transport of goods.
870410 Dumpers designed for offhighway use
491 Motor vehicles, trailers & semi-trailers; parts
8703 Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars.
870310 Vehicles specially designed for travelling on snow; golf cars and similar vehicles
870321 Of a cylinder capacity not exceeding 1,000 cc
870322 Of a cylinder capacity exceeding 1,000 cc but not exceeding 1,500 cc
870323 Of a cylinder capacity exceeding 1,500 cc but not exceeding 3,000 cc
870324 Of a cylinder capacity exceeding 3,000 cc
870331 Of a cylinder capacity not exceeding 1,500 cc
870332 Of a cylinder capacity exceeding 1,500 cc but not exceeding 2,500 cc
870333 Of a cylinder capacity exceeding 2,500 cc
870390 Other
8704 Motor vehicles for the transport of goods.
870421 g.v.w. not exceeding 5 tonnes
870422 g.v.w. exceeding 5 tonnes but not exceeding 20 tonnes
870423 g.v.w. exceeding 20 tonnes
870431 g.v.w. not exceeding 5 tonnes
870432 g.v.w. exceeding 5 tonnes
870490 Other

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