business incentives
DESCRIPTION
Washington, D.C. Business Incentives. Jenifer Boss [email protected]. Many Resources Available to District Businesses. CAPCO’s. Venture funding for District-based businesses. Small Business Resource Center. Assistance navigating the District’s business regulations. - PowerPoint PPT PresentationTRANSCRIPT
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
Business Incentives
Jenifer [email protected]
WASHINGTON, D.C.WASHINGTON, D.C.
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
Many Resources Available to District BusinessesMany Resources Available to District Businesses
CAPCO’s Venture funding for District-based businesses
Small Business Resource Center Assistance navigating the District’s business regulations
Business Incentives
Designed to build tax base and create jobs for District residents
Dept. of Employment Services
No-cost assistance with hiring and training employees
Business Incubators Flexible office space, technical assistance
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
Four Business Incentives Discussed TodayFour Business Incentives Discussed Today
DC Tech Incentives
Supermarket Tax Credit
Work Opportunity Tax Credit
Industrial Revenue Bonds
One-page overviews available for each incentive
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
DC Tech Incentives– Benefits for High Tech CompaniesDC Tech Incentives– Benefits for High Tech Companies
DC Tech Incentives
Supermarket Tax Credit
• 5 year exemption from corporate income tax
• New hire credits up to $10,000
• Relocation reimbursements up to $7,500 per person
• 10-year abatement on personal property taxes
• Exemption from sales tax on hardware and software purchases
Work Opportunity Tax Credit
Industrial Revenue Bonds
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
Supermarket Tax CreditSupermarket Tax Credit
DC Tech Incentives
Supermarket Tax Credit
Work Opportunity Tax Credit
Industrial Revenue Bonds• 10-year abatement on real property taxes
• 10-year abatement on personal property taxes
• Abatement of sales and use taxes during construction
• 10-year exemption from license fees
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
Industrial Revenue BondsIndustrial Revenue Bonds
DC Tech Incentives
Supermarket Tax Credit
Work Opportunity Tax Credit
Industrial Revenue Bonds• Low interest loans for property acquisition and interior
improvements
• Capital expenditures must exceed $2 million
• Available for 501 (c)(3) in the District of Columbia
• Available for manufacturers within the DC Enterprise Zone
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
Work Opportunity Tax CreditWork Opportunity Tax Credit
DC Tech Incentives
Supermarket Tax Credit
Work Opportunity Tax Credit
Industrial Revenue Bonds• Federal tax credit for employers who hire veterans
• Employers generally can earn a tax credit equal to 25% or 40% of a new employee's first-year wages
• The maximum tax credit ranges from $1,200 to $9,600
• http://www.doleta.gov/business/incentives/opptax/eta_default.cfm
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
DC Business Incentives MapDC Business Incentives Map
www.dcbiz.dc.gov
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
For More Information…For More Information…
Jenifer Boss
Director of Industry Sectors, Business Development Unit
Office of the Deputy Mayor for Planning and Economic Development
www.dcbiz.dc.gov