California Construction News staff writer
The State of California has awarded more than $149 million in grants and tax credits to 12 companies to expand operations and semiconductor manufacturing capabilities for electric vehicles and electric aircraft.
“Investing in ingenuity and innovation works, and no place does it better than California. Businesses like the ones we’re investing in today will drive the future of our economy, helping create thousands of good-paying jobs and bringing billions in economic investment to communities up and down the state,” said Governor Gavin Newsom.
Grants are going to:
The California Competes Tax Credit was created in 2013 to help businesses grow and stay in California. In 2022, the program was extended for an additional five years with at least $180 million in tax credits available for allocation to businesses each year through 2028.
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