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Creative And Open Space Modernization

Tuesday, September 25, 2018

Qualified High Technology Company (QHTC) Interior Renovation Tax Rebate

The purpose of the Creative and Open Space Modernization Tax Rebate is to foster the development of technology-focused businesses in the District, increase the District’s tax base, and create new job opportunities for District residents.

Qualified High Technology Companies (QHTCs) in the District can qualify for tax rebates of up to $1,000,000 per qualified business per year (for a maximum of five years). Tax rebates will assist companies with improving their place of business or for the purchase and installation of heavy equipment that will be used onsite at the business location.

The maximum rebate amount per eligible applicant per year is the lesser of:

  • 10% of the total qualified improvements
  • the tenant’s portion of the annual real property tax
  • $1,000,000

The improvements must be substantially completed no later than one year after lease commencement. This program allows applicants up to five years of eligibility which would cover up to 50% of total eligible costs (with a cap of $5 million total per qualifying applicant).

To qualify for the tax rebate, businesses must meet the following requirements:

  • Be a Qualified High Technology Company (QHTC)
  • Have a signed lease (or sub-lease) of at least 50,000 SF of office space in DC after July 1, 2015
  • Maintain site control of this office space for at least twelve (12) years after the date of grant application
  • Provide a public benefit that will have a material, positive impact on DC such as:
    • Providing employment or contracting opportunities for District of Columbia residents and Certified Business Enterprises (CBEs)
    • Providing low-income or underserved individuals or communities in the District of Columbia with reduced-price or free products, services, or commercial or community space
    • Providing economic opportunities, training, or jobs for individuals or communities beyond those offered through the normal course of business
    • Providing innovation and technology-related educational, training, or internship opportunities for students in the District of Columbia

How to Apply
Email [email protected] to learn more.
When you’re ready to apply, fill out the below application form. DMPED will work with you to gather the required documentation.

Additional Resource
Qualified High Technology Company (QHTC) Incentives