Preheat oven to 350 degrees F (175 degrees C). Grease and flour a 9x13 inch pan.
In a medium bowl, combine the flour, baking powder, baking soda, salt and cinnamon. Mix together.
In a large bowl, whisk together the oil and sugar until blended. Beat in the eggs one at a time, then stir in the vanilla. Gradually add the dry ingredients to the wet mixture.
Fold in carrots and chocolate chips.
Pour batter into prepared pan.
Bake for 35 to 40 minutes in preheated oven. Cake is done when it springs back to the touch.