California has a history of leading innovations in life-saving biomedical technologies. We are the long-time home to the nation’s number 2 biomedical sciences research institution3 and at over $4 billion annually, California’s universities lead the US in earned National Institutes of Health grants2.
California’s life sciences industry generates nearly 1 million direct and indirect jobs2 and over $191 billion in annual revenue2. More bioscience and biotechnology patents are issued to California companies and researchers than any other state. California leads the pack across the board for patent generation1 from microbiology and genetics to bioinformatics and health IT – creating more than 2.5 times as many patents as the next ranking state1.
California life science companies saw over $23B in venture capital investment from 2017 – 2019, more than any other state2, and our businesses have 1,300+ therapies in the development pipeline2. These investments keep California at the forefront of biotech innovation.
California Competes Tax Credit
The California Competes Tax Credit is an income tax credit available to businesses who want to relocate, stay, or grow in California. Our team provides no-cost consultations to see if your business qualifies.
Research & Development Tax Credit
A business may qualify for an income tax credit if it paid for or incurred qualified research expenses while conducting qualified research activity in California. Qualified research expenses include wages, supplies, and contract research costs.
Employment Training Panel
The Employment Training Panel (ETP) provides funding to employers for training that upgrades the skills of their workers.