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California Competes Grant Round 3

Grantor:
Governor's Office of Business and Economic Development
Portal ID:
83993
Status:
Closed
Opportunity Type:
  • Grant
Last Updated:
 | 
Categories:

Details

Purpose:

The California Competes Grant Program (CCGP) is available to businesses that want to locate in California or stay and grow in California and create quality, full-time jobs in California that might not otherwise be created by the business or any other business.

Description:

The primary goal of the CCGP is to incentivize businesses to choose California and to create quality, full-time jobs in the state. A significant priority for this grant program is to make resources available to businesses for whom a non-refundable tax credit would not provide a significant financial benefit. The CCGP was specifically created for two types of businesses: (1) businesses that continuously reinvest profits, generating either significant research and development tax credits and/or net operating losses resulting in little to no tax liability; and (2) startups with little to no tax liability. While there are no geographic or sector-specific restrictions, the purpose of the California Competes Grant Program is to attract and retain high-value employers in California in industries with high economic multipliers and that provide their employees good wages and benefits.

Eligibility Requirements

Eligible Applicants:

  • Business

In order to be eligible to apply, a business must commit to at least one of the following criteria: 1. create at least 500 new, full-time jobs in California, or 2. invest at least $10 million in facility construction/renovation, or 3. create the jobs or make the investments in an area of high unemployment and/or high poverty as defined by the California Competes regulations  

Eligible Geographies:

There are no geographic limitations or restrictions, however, all employment growth and investments must take place in California.  For businesses that qualify to apply via the high unemployment or high poverty designation, at least 75% of the employment growth must occur in the qualifying high poverty or high unemployment city or county.

Important Dates

The date (and time, where applicable) by which all applications must be submitted to the grantmaker. Time listed as “00:00” equates to midnight.
The date on which the grantor expects to announce the recipient(s) of the grant.
November 16, 2023
The length of time during which the grant money must be utilized.
5 years

Funding Details

The total projected dollar amount of the grant.
$120,000,000
A single grant opportunity may represent one or many awards. Some grantors may know in advance the exact number of awards to be given. Others may indicate a range. Some may wish to and wait until the application period closes before determining how many awards to offer; in this case, a value of “Dependent” will display.
Dependent
Grant opportunities representing multiple awards may offer awards in the same amount or in varied amounts. Some may wish to wait until the application period closes before determining per-award amounts; in this case, a value of “Dependent” will display.
$5,000,000 – $36,000,000
Certain grants require that the recipient(s) provide a letter of intent.
No
Certain grants require that the recipient(s) be able to fully or partially match the grant award amount with another funding source.
No
The funding source allocated to fund the grant. It may be either State or Federal (or a combination of both), and be tied to a specific piece of legislation, a proposition, or a bond number.
  • State
The manner in which the grant funding will be delivered to the awardee. Funding methods include reimbursements (where the recipient spends out-of-pocket and is reimbursed by the grantor) and advances (where the recipient spends received grant funds directly).
  • Advances & Reimbursement(s)

Funding Method Notes:

Once the California Competes Committee approves the grant agreement, GO-Biz will disburse the funds in accordance with Exhibit A of the agreement.

How to Apply

State agencies/departments recommend you read the full grant guidelines before applying.

Resources

For questions about this grant, contact:
1-916-322-4051, calcompetes@gobiz.ca.gov

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