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News Updates
Opportunity Zones 2.0
The Opportunity Zone (OZ) Program was established under the Tax Cuts and Jobs Act of 2017 to encourage the reinvestment of capital gains into economically distressed communities. The program offers preferential federal tax treatment for capital gains invested in qualified projects located within designated low-income census tracts.
Eligible investments may include new real estate construction, rehabilitation of vacant or underutilized properties, equity investments in operating businesses, and infrastructure or energy-related projects, among others. The Opportunity Zone incentive is designed to reward long-term, patient capital that generates sustained economic growth, job creation, and community revitalization in historically underserved areas.
Local Authority Recommendation Form for Opportunity Zones 2.0 is now available.
Completed forms must be submitted no later than 11:59 p.m. on July 25, 2026. Please note that incomplete applications and submissions received after the deadline will not be considered.
Click here for more details!
California Competes Tax Credit (CCTC)
The California Competes Tax Credit (CCTC) is an income tax credit available to businesses that want to locate in California or stay and grow in California. Businesses of any industry, size, or location compete for over $180 million available in tax credits by applying in one of the three application periods each year. Applicants will be analyzed based on fourteen different factors of evaluation, including number of full-time jobs being created, amount of investment, and strategic importance to the state or region.
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Legislation & Economic Development
State legislation plays an essential role in economic development efforts. In partnership with CALED, the following link identifies legislation affecting California's economic development.
Click here to access the legislation watchlist.
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