|
|
 |
The Office of the Deputy Mayor for Planning and Economic Development administers incentives in the District of Columbia. If you are interested in a major listing of incentives please choose from the list below.
Below is a list of some of the major incentives and incentive programs offered by the DC Government. The links will take you directly to the appropriate pages on their website (dcbiz.dc.gov).
DC Enterprise Zone Incentives
Federal incentives designed to tap the investment and employment potential of the Enterprise Zones include three types of wage credits, an additional expensing allowance, a zero federal capital gains tax rate on certain investments and up to $15 million of Enterprise Zone Facility Bonds.
Revenue Bond Program
The District of Columbia's Revenue Bond Program provides below market interest rate loans to qualified private enterprises that are located in the Enterprise Zone as well as non-profit and manufacturing organizations citywide. Bonds can be issued to assist in financing a broad variety of capital projects, including commercial development, infrastructure improvements and equipment and machinery used in business and other endeavors such as the retail trades, health care, education, housing, recreation, and solid waste recycling.
Tax Increment Financing
Tax Increment Financing (TIF) involves the issuance and sale of tax-exempt governmental revenue bonds to finance public infrastructure redevelopment within one or more predetermined geographic areas on the basis of specific statutory eligibility criteria. To secure the repayment of TIF bonds, the government consents to segregate into a special account a portion (e.g., 25 percent, 50 percent) of the incremental growth in real property tax collections occurring within the area from a specific date. Sales tax increments may be applied to shorten the repayment period, or to provide credit enhancement.
For more information and to see a list of projects that have received TIF financing please visit the Chief Financial Officer's TIF Program webpage.
Technology Incentives (NET 2000)
The New E-conomy Transformation Act of 2000 (NET 2000), effective January 1, 2001, provides certain credits, exemptions and other benefits fro a Qualified High Technology Company. These incentives include resources to develop their workforce, secure affordable facilities for their business and benefit from reduced real estate, personal property, sales and income taxes.
Employee Tax & Work Support Incentives
There are a number of incentives available to help employers reduce their operating costs, promote jobs for District residents and create tax revenues for our city. For more information please select from the list below.
Housing Development Incentives
Please visit Housing Development Incentives (Ownership and Rental Housing).
Targeted and Industry Specific Incentives
Please visit Targeted and Industry-Specific Incentives.
Financing Incentives for Non-profits
Please visit Finance Incentives for Nonprofits. |
|
|
|
|
 |
