The staff of Incentives Advisors, CalChamber’s newest partner, offers more than twenty years of experience focused exclusively on obtaining federal, state and local tax credits and economic incentives for our clients. Over the past ten years alone, members of our team have successfully delivered over $1 billion dollars in benefits for some of the largest multinational firms and small to mid-sized companies in the United States. We look forward to helping your business as well.
In order to help you better understand the benefits your company is eligible to receive, Incentives Advisors will provide you with a risk free analysis. Examples of some of the incentives offered by the State of California and the federal government are:
- California Enterprise Zone Program – One of the richest tax credits offered in the U.S. The California Technology, Trade and Commerce Agency designates certain areas throughout California as Enterprise Zones. These zones are established to encourage companies to locate within these designated areas. As an example, one qualified employee can provide your company significant tax savings of $37,440.00 or more, or:
10 Qualified Employees x $37,440.00 = $374,400.00 in tax savings
- Employee Training Grants – The State of California provides cash reimbursement to companies for their training expenses. The funds are provided as a way to encourage businesses to train their workforce in California. The potential benefit for your company ranges from $8.00 per hour per employee to $27.00 per hour per employee during the training period. As an example of the benefit you may be eligible to receive:
75 employees x 80 training hours x $20.00/hour = $120,000.00
- Federal Empowerment Zone and Renewal Communities – The federal government has established several Empowerment Zones and Renewal Communities in 40 areas across the United States. California has several designated Empowerment Zones and Renewal Communities, which are geographic zones representing economically distressed communities. The tax credits offered provide businesses with an incentive to hire individuals who live and work in these zones. The credit under the Empowerment Zones and Federal Renewal Communities is up to $3,000 per employee.
- Work Opportunity Tax Credit (WOTC) - A federal tax credit that reduces the federal tax liability of private-for-profit employers. Employers can hire from nine different targeted groups and receive substantial federal tax credits. Credits are up to $9,000 per eligible hire.
CalChamber members are eligible for a cost-free analysis. To find out which programs your company qualifies for, fill out the Incentives Advisors eligibility wizard, email calchamber@incentivesadvisors.com, or call toll free (888) 801-8280 to learn more.