Did you know that you may be eligible to apply for tax credits under the Enterprise Zone Tax Credit Program administered by the Pennsylvania Department of Community and Economic Development? Tax credits are available to private companies which make qualified investments to rehabilitate, expand and/or improve buildings or land which promote community economic development and which occur in areas designated as a state Enterprise Zone. Per DCED's guidelines for the Enterprise Zone Tax Credit program, tax credits are authorized in the amount of 25% of funds invested, up to a maximum of $500,000.
The deadline for submitting an application is August 15, 2011. Do you intend to rehabilitate, expand or improve a building or land located in a designated Enterprise Zone? Will the rehabilitation or improvement create or retain jobs? If so, now is the time to find out whether your project is eligible for these tax credits.