Invest Incentives & Resources

Incentives & Resources

Downtown Retail Incubation Program

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Commercial Facade Improvement Program

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Urban Opportunity Zone

Program Description
Local governments which undertake redevelopment and revitalization efforts in certain older commercial and industrial areas can now qualify those areas for the State’s maximum state job tax credit of $3,500 per job.  The incentive which is available for new or existing businesses which create two or more jobs are credits which can be taken against the business’s income tax liability and state payroll withholding.  The credits are available for areas designated by DCA as “Opportunity Zones”.   DCA will consider designations for areas that are within or adjacent to a census block group with 15% or greater poverty where an enterprise zone or urban redevelopment plan exists.

Opportunity Zone Tax Credit Incentives:

  • The maximum Job Tax Credit allowed under law - $3,500 per job created
  • The lowest job creation threshold of any job tax credit program - 2 jobs
  • Use of Job Tax Credits against 100 percent of income tax liability and Withholding
  • Expansion of the definition of "business enterprise" to include all businesses of any nature

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