Assemblywoman Quirk-Silva Helps Secure California Competes Tax Credit for American Honda Finance Corporation
SACRAMENTO, CA – Assemblywoman Sharon Quirk-Silva (D – Fullerton) is honored to assist the American Honda Finance Corporation in being awarded a California Competes Tax Credit (CCTC) in the amount of five million two hundred thousand dollars ($5.2 million). The funding from the CCTC will bring more than $400 million in new investments across the state of California.
“The profound economic disruption caused by the coronavirus pandemic has been felt by all sectors of our economy,” said Assemblywoman Sharon Quirk-Silva. “As California continues to recover from this economic recession, this award for the American Honda Finance Corporation will ignite the spirit of innovation and growth in our business sector.”
The California Competes Tax Credit was created in 2013 to focus on helping businesses grow and stay in California. Governor’s Office of Business and Economic Development (GO-Biz) evaluates the most competitive applications based on the factors required by statute, including total jobs created, total investment, average wage, economic impact, strategic importance and more. In 2018, the program was extended for an additional five years with at least $180 million in tax credits available for allocation to business each year through 2023.
Through the efforts of their parent corporation, American Honda Motor Co., Inc., American Honda Finance Corporation, continues to take an active role as a citizen of Assembly District 65, that they humbly serve. By supporting important civic initiatives, they remain a fixture in the fabric of our community and help make a difference for all of our residence.