SACRAMENTO, Calif. (AP) — The Latest on California economic development tax credits: (all times local):
3:45 p.m.
A California economic development board has approved an $8 million tax credit for General Motors to expand its autonomous vehicle division in San Francisco.
The GM tax credit was one of 114 approved Thursday by the California Competes board. The companies were given $91 million in exchange for promises to hire more than 8,200 people.
GM plans to hire more than 1,100 people to work on developing autonomous vehicle software, testing vehicles and supporting functions.
The approved tax credits range from GM's $8 million to $20,000 for an accounting firm in Southern California that plans to hire eight people.
Electric-bus manufacturer Proterra Inc. will get a $7.5 million tax break in exchange for hiring 432 people in Burlingame and the city of Industry.
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11 a.m.
A state economic development board is considering an $8 million tax credit for General Motors in exchange for hiring more than 1,100 workers at its autonomous vehicle division in San Francisco.
The GM tax credit is among $91 million in incentives for 114 companies scheduled for approval at a meeting Thursday in Sacramento.
The credits range from GM's $8 million to $20,000 for a small accounting firm in Southern California that plans to hire eight people.
Electric-bus manufacturer Proterra Inc. is seeking $7.5 million in exchange for hiring 432 people in Burlingame and the city of Industry. Online streaming service Hulu is in line for $4.3 million to expand in San Francisco, Santa Monica and Novato.