Opinion: A simple step to grow quantum and fusion jobs in California

California invented the modern startup. From the semiconductor shops of the 1950s to today’s fusion energy labs and quantum computing companies, this state has been the birthplace of industries that reshape the world. However, a single flaw in one of California’s signature economic development programs is quietly pushing the next generation of those companies out the door.

Currently, tax credits from the California Competes Tax Credit (CalCompetes) program are inaccessible for early-stage start-ups. Many of these startups are in cutting-edge sectors like quantum computing, fusion energy, semi-conductors and zero-emission vehicles. Without action, California jeopardizes its leadership in core industries and risks letting other states reap the economic benefits.

SB 1120, authored by Sen. Jerry McNerney and sponsored by the Silicon Valley Leadership Group, would extend CalCompetes tax credits to early-stage companies and startups. This is a simple fix to a successful program.

For the full op-ed, click here.