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California Firms Get $91 Million In Tax Breaks

Jeff Wilcox / Flickr
 

Jeff Wilcox / Flickr

(AP) - 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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