Gov. Jerry Brown‘s GO-Biz agency approved almost $44 million in 89 new tax credits Tuesday for companies that have promised to create at least 7,000 new jobs in California, a new report says.
The money was doled out under the state’s California Competes program, whose largest award to date has been $15 million to electric automaker Tesla Motors Inc. in June. See our video explainer on how companies get tax credits here.
This time around, San Francisco-based personal finance startup NerdWallet was awarded a total of $3.25 million in tax credits. Based on the terms of the agreement, it will receive $650,000 per year in tax credits, over a five-year period.
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