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Business Incentives

Washington, D.C. Business Incentives. Jenifer Boss Jenifer.Boss2@dc.gov. 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.

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Business Incentives

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  1. Washington, D.C. Business Incentives Jenifer Boss Jenifer.Boss2@dc.gov

  2. 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 • Dept. of Employment Services No-cost assistance with hiring and training employees • Business Incubators Flexible office space, technical assistance • Business Incentives Designed to build tax base and create jobs for District residents

  3. Four Business Incentives Discussed Today DC Tech Incentives Supermarket Tax Credit Industrial Revenue Bonds Work Opportunity Tax Credit One-page overviews available for each incentive

  4. DC Tech Incentives– Benefits for High Tech Companies DC Tech Incentives Supermarket Tax Credit Industrial Revenue Bonds • 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

  5. Supermarket Tax Credit DC Tech Incentives Supermarket 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 Work Opportunity Tax Credit

  6. Industrial Revenue Bonds DC Tech Incentives Supermarket 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 Work Opportunity Tax Credit

  7. Work Opportunity Tax Credit DC Tech Incentives Supermarket 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 Work Opportunity Tax Credit

  8. DC Business Incentives Map www.dcbiz.dc.gov Identify available business incentives at a specific address See owner and zoning for each parcel Find eligible areas for each business incentive

  9. For More Information… Jenifer Boss Director of Industry Sectors, Business Development Unit Office of the Deputy Mayor for Planning and Economic Development Jenifer.Boss2@dc.gov www.dcbiz.dc.gov

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