ANNOUNCEMENT 16 Apr 2015

In April 2015, announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 16 Apr 2015 | Removal date: open ended
Still in force

Tax or social insurance relief

On April 16, 2015 GO-Biz awarded a California Competes Tax Credit of $10 million to Northrop Grumman Systems Corporation in an agreement to manufacture aircraft. In consideration for the credit, Northrup agreed to expand its operations at various locations throughout California and to meet certain benchmarks. 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 SECTORS