State Money is Available to Expand Your Business

We receive news from the State Board of Equalization on a regular basis. The board member representing our district, Jerome E. Horton, work hards at advocating for businesses and said, “the jobs they create and the revenue they generate are the lifeblood of California.”  

Recently, an email crossed my desk that might spell good news for local businesses and chamber members.

The California Governor’s Office of Business and Economic Development (GO-Biz) is offering tax credits to businesses of all sizes. The CCTC, or California Competes Tax Credit, is an income tax credit available to businesses that have expansion plans to create jobs in California over the next five years. It’s also available to businesses at risk of leaving California altogether.

The CCTC is awarded to businesses based on a competitive application process for a set amount of income tax credits. Any business may apply and there are no geographic or sector-specific restrictions. Twenty-five percent of those credits are specifically reserved for small businesses. The application is free. Over $200 million is available for the 2017-18 fiscal year.

There are specific application periods, the current one being July 24 through Aug. 21. Free webinars are available to help you fill out the application. For more information, visit www.business.ca.gov/Programs/California-Competes-Tax-Credit/California-Competes/Webinars.

On a personal note, I was pleased to see so many people, including community leaders and dignitaries, attend the memorial Mass and celebration of life for Warren Boehm this past weekend. Warren served on the CV Chamber board for an astonishing 35 years, acting as president for two and honorary mayor for two more.  He chaired the Legislative Committee for almost two decades, bringing together elected officials, law enforcement, community organizations and other chambers at monthly meetings to ensure that all agencies were apprised of each other’s activities and needs. Communication is the surest way to keep a community engaged. Warren was a force for good, a deep thinker and a truly kind-hearted person. He will be sorely missed by the CV Chamber of Commerce and the community at large, but his legacy will live on.

Chamber Business Members: Take a look in your mailbox for an application to host a booth at this year’s Foothills Community Business Expo on Sept. 13. The cost is only $100 ($120 after Aug. 17).  It’s the place to introduce your business to the neighbors and network with other local businesses. The Expo is a collaborative event with the CV, Montrose-Verdugo City and La Cañada Flintridge chambers, so you’ll have a chance to meet a variety of business owners. Space is limited so turn your application in early.
Upcoming Events
National Night Out is Tuesday, Aug. 1 from 5 p.m. to 8 p.m. at the CV Sheriff’s Station, 4554 Briggs Ave. Fun activities for the whole family. Stop by the Chamber booth and say hi!

  Lisa DUPUY