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 Planning and Economic DevelopmentTRANSCRIPT
GOVERNMENT OF THE DISTRICT OF COLUMBIAExecutive Office of the Mayor
Office of the Deputy Mayor for Planning and Economic Development
Business Incentives
David [email protected]
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 Businesses
CAPCO’s Venture funding for District-based businesses poised for growth
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
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
Three Business Incentives
DC Tech Incentives
Supermarket Tax Credit
HUB Zones
One-page overviews available for each program
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 Companies
DC Tech Incentives
Supermarket Tax Credit
HUB Zones
• 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
• 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 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 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 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 Credits
DC Tech Incentives
Supermarket Tax Credit
HUB Zones
• 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
HUB Zones– Benefits for Federal Contractors
DC Tech Incentives
Supermarket Tax Credit
HUB Zones
• Enhanced access to federal contracts, including:• Sole source contracts • 10% price evaluation preference in full and open
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 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 Map
www.dcbiz.dc.gov
Find eligible areas for each business incentive
Identify available business incentives at a
specific address
See owner and zoning for each parcel
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…
David Zipper
Director of Business Development and Strategy
Office of the Deputy Mayor for Planning and Economic Development
www.dcbiz.dc.gov