California State Treasurer John Chiang officially rolled out CBIG.ca.gov, the California Business Incentives Gateway. The online gateway connects business owners and entrepreneurs to incentives to help them grow and create jobs.
“CBIG is open for business. California is launching its version of Amazon or Angie’s List, but instead of connecting people with products or services, we will be connecting businesses — ranging from local mom-and-pops to multinational corporations — with the economic incentives, permitting assistance, and employee training that they need to grow and prosper,” said Chiang. “Today, there are hundreds of incentives and opportunities for businesses just a click away, tomorrow there will be thousands. We are taking a page from the innovative marketplaces pioneered by California’s tech sector to propel not just business creation and expansion, but ultimately job, jobs, and more jobs.”
The CBIG site makes it easy for businesses expanding or locating in California to find and apply for incentives as part of a strategic business plan. Counties, cities and municipalities have been loading the site with incentives during a beta trial over the past year.
CBIG provides access to scores of incentives, including those overseen by the Treasurer, such as tax credits, loans and bond financing.
Incentives on CBIG include:
- Sales tax exclusions
- Training grants
- Fee waivers
- Permit assistance
- Reduced utility rates
- Employee recruitment
Among businesses already seeing the potential of using the CBIG portal is Aemerge RedPak Services. Aemerge converts problematic waste into clean energy. The company recently was awarded millions in tax-exempt bonds and a $3.1 million sales tax exclusion from the State Treasurer’s Office to build a state-of-the-art medical waste recycling processing plant in the City of Hesperia.
“The new business incentives gateway website created by the State Treasurer’s Office represents a new and useful tool to view many of the programs that we have used to aid in the expansion of our company and the construction of new facilities,” said Aemerge COO Landon Miller. “This financial assistance has allowed us to create more good-paying jobs right here in California.”
CBIG makes it simple for local, state and federal government agencies to post an incentive. Its user interface makes searching and applying for incentives akin to state-of-the-art online shopping experiences, like Amazon.com. Businesses can search by location or industry to find the most advantageous opportunities.
The number of incentives uploaded to the site has surpassed initial projections and is expected to accelerate as awareness for CBIG continues to grow.
This article was released by the California State Treasurer’s Office.