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Financing and Acquisitions Strong for Job-Creating Projects

SACRAMENTO—With projects near job nerve centers continuing to thrive, capital gravitates to those types of properties, meanwhile, the governor's office approves tax credits for job-generating companies with a projected $828 million in total investment statewide.

California jobs and transit projects The Riviera Condominiums development is adjacent to the Walnut Creek BART station.

SACRAMENTO—In an ongoing effort to improve California’s business climate, the California Competes tax credit committee approved $91.4 million in tax credits for 114 companies expanding and creating jobs in California, according to the governor’s office of business and economic development (GO-Biz).

The awards will help these companies create a projected 8,223 jobs and generate more than $828 million in total investment across California. The committee voted to approve all 114 tax credit agreements. GO-Biz evaluates the most competitive applications based on the factors required by statute, including total jobs created, total investment, average wage, economic impact and strategic importance. Companies are exempted from paying state income taxes in the amount awarded.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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