SACRAMENTO – Governor Edmund G. Brown Jr. today signed 18 bills to strengthen the state’s business climate.
Today’s action builds on the legislation Governor Brown signed in July to revamp the state’s economic development program, known as the Governor’s Economic Development Initiative (AB 93 and SB 90). The Initiative, which received broad, bipartisan support in the Legislature, helps bolster California’s business climate and put Californians to work by establishing a statewide sales tax exemption on all manufacturing equipment and research and development equipment purchases for biotech and manufacturing companies; hiring credits for businesses in areas with the highest unemployment rate and poverty; and provides the opportunity for California businesses to compete for available tax credits based on the number of jobs to be created and retained, wages paid in those jobs and other factors.
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