California Ethanol & Power awarded $10 million in income tax credit by state

April 22, 2019 |

In California, California Ethanol & Power, LLC (CE&P) announced that it was awarded a $10 million income tax credit as part of the California Governor’s Office of Business and Economic Development (GO-Biz) California Competes program.

“CE&P is extremely pleased about our award which demonstrates confidence by the state of California in our ability to assist with their goal of stimulating economic development,” said CE&P President & CEO David Rubenstein. “We are honored to be selected as one the companies from a highly competitive pool of applicants by the California Competes Tax Credit Committee (CCTC).” In this round, the CCTC approved $70 million in tax credits for 35 companies projected to create 4,221 jobs and generate $1 billion worth of new investments across California.

The California Competes program is designed to encourage businesses to expand or relocate their business in California to generate new jobs and stimulate economic development. GO-Biz evaluated the most competitive applications based on 12 factors required by statute, including total jobs created, total investment, average wage, strategic importance, economic impact and more.

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Category: Fuels

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