Fuse Awarded CalCompetes Tax Credit
(April 23, 2018) – On April 12th, Fuse was awarded a tax credit by the California Competes Tax Credit Committee. According to the announcement from the Governor’s Office of Business and Economic Development (GO-Biz), a total of 63 California businesses were awarded by the CalCompetes committee that are expected to grow and remain in California, thereby improving the state’s economic development and job creation. Together, these 63 businesses are projected to create 6,166 jobs and make $490 million worth of new capital equipment investments in the state. A total of $76 million was awarded this year as announced by GO-Biz. Fuse is excited to be recognized as a rapidly growing small business that will play a role in expanding California’s economic development.
The CalCompetes Tax Credit is part of a state-led initiative signed into law in 2013 by Governor Brown. GO-Biz accepts applications and selects the most competitive businesses based on criteria including but not limited to total jobs created, total investment, average wage, economic impact, and strategic importance. By awarding these tax credits, GO-Biz hopes to encourage growing businesses to stay in California to help continue to develop the state’s economy and encourage job growth.