Waterfront Development Tax Credit Program (WDTC)

Overview

Program provides tax credits to business firms who provide contributions to waterfront development organizations who are undertaking a waterfront development project. The program encourages private investment in waterfront property that creates public access to the water, increases property values, restores ecology and catalyzes further financial investment and job creation.

The application period for businesses applying for Waterfront Development Tax Credits is October 15th – November 1st.

Uses

Tax credit awards shall be equal to 75% of the total contribution made by a business firm to a waterfront development organization during a taxable year.

Eligibility

Business Firms authorized to do business in Pennsylvania who are subject to one or more of the following taxes:

  • Personal Income Tax
  • Corporate Net Income Tax
  • Capital Stock/Foreign Franchise Tax
  • Bank Shares Tax
  • Title Insurance & Trust Company Shares Tax
  • Insurance Premium Tax
  • Mutual Thrift Tax
  • Surplus Lines Tax

Funding

The commonwealth shall issue no more than $1,500,000 in tax credits per fiscal year.

How to Apply

Applicants will apply through DCED’s electronic Single Application system. Applicants will also be required to complete the program addenda included as part of the Single Application. All applications will be reviewed on a first-come, first-served basis by date received.

Additional Information

Tax Credit Compliance Forms and the subsequent ownership attachment can be mailed to:

Department of Community & Economic Development
Commonwealth Keystone Building
Office of Business Financing I Tax Credit Division
400 North St
4th Floor
Harrisburg, PA 17120

List of Organizations