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Doing Business in DC | DC Business Incentives | DC Tech Incentives, Supermarket Tax Credit and more
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Doing Business in DC | DC Business Incentives | DC Tech Incentives, Supermarket Tax Credit and more

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Washington, DC Economic Partnership's Doing Business in DC program on DC Business Incentives featuring David Zipper, Director of Business Development and Strategy, Office of the Deputy Mayor for …

Washington, DC Economic Partnership's Doing Business in DC program on DC Business Incentives featuring David Zipper, Director of Business Development and Strategy, Office of the Deputy Mayor for Planning and Economic Development

Published in: Business, Real Estate

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    • 1. WASHINGTON, D.C. Business Incentives David Zipper David.Zipper@dc.gov GOVERNMENT OF THE DISTRICT OF COLUMBIA Executive Office of the Mayor Office of the Deputy Mayor for Planning and Economic Development
    • 2. Many Resources Available to District Businesses CAPCO’s Venture funding for District-based businesses poised for growth Small Business Resource Center Assistance navigating the District’s business regulations Dept. of Employment No-cost assistance with hiring and training employees Services Business Designed to build tax base and create jobs for District residents Incentives GOVERNMENT OF THE DISTRICT OF COLUMBIA Executive Office of the Mayor Office of the Deputy Mayor for Planning and Economic Development
    • 3. Three Business Incentives DC Tech Incentives Supermarket Tax Credit HUB Zones One-page overviews available for each program GOVERNMENT OF THE DISTRICT OF COLUMBIA Executive Office of the Mayor Office of the Deputy Mayor for Planning and Economic Development
    • 4. DC Tech Incentives– Benefits for High Tech Companies DC Tech Incentives Supermarket Tax Credit • 10-year abatement on personal property taxes • Reduction of franchise tax from 9.975% to 6%; elimination of tax for 5 years in some cases HUB Zones • No sales tax for software and hardware purchases in DC • Relocation reimbursements up to $7,500 per person • Wage reimbursement up to $10,000 per person hired GOVERNMENT OF THE DISTRICT OF COLUMBIA Executive Office of the Mayor Office of the Deputy Mayor for Planning and Economic Development
    • 5. DC Tech Incentives– Benefits for High Tech Companies Highlights of the Technology Enhancement Act of 2012 (currently under consideration by the DC Council) • Expansion of the High Tech Development Zone to include the entire city • Establishment of a 3% capital gains rate for District residents investing in DC technology companies • Adjustment to allow technology businesses to receive complete franchise tax abatement for their first years of profitability • Law currently grants an abatement for the first five years after eligibility is confirmed GOVERNMENT OF THE DISTRICT OF COLUMBIA Executive Office of the Mayor Office of the Deputy Mayor for Planning and Economic Development
    • 6. Supermarket Tax Credits DC Tech Incentives Supermarket Tax Credit • 10-year abatement on real property taxes HUB Zones • 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 COLUMBIA Executive Office of the Mayor Office of the Deputy Mayor for Planning and Economic Development
    • 7. HUB Zones– Benefits for Federal Contractors DC Tech Incentives Supermarket Tax Credit • Enhanced access to federal contracts, including: • Sole source contracts • 10% price evaluation preference in full and open HUB Zones contract competitions • Subcontracting opportunities • DMPED, DSLBD, SBA, and other federal agencies recently launched the HUBDC initiative to grow the number of DC- based HUB Zone businesses GOVERNMENT OF THE DISTRICT OF COLUMBIA Executive Office of the Mayor Office of the Deputy Mayor for Planning and Economic Development
    • 8. DC Business Incentives Map www.dcbiz.dc.gov Find eligible areas for Identify available See owner and zoning each business incentive business incentives at a for each parcel specific address GOVERNMENT OF THE DISTRICT OF COLUMBIA Executive Office of the Mayor Office of the Deputy Mayor for Planning and Economic Development
    • 9. For More Information… David Zipper Director of Business Development and Strategy Office of the Deputy Mayor for Planning and Economic Development david.zipper@dc.gov www.dcbiz.dc.gov GOVERNMENT OF THE DISTRICT OF COLUMBIA Executive Office of the Mayor Office of the Deputy Mayor for Planning and Economic Development