Waterfront Development Tax Credit Program (WDTC)
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.
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.
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
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.
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
Harrisburg, PA 17120
List of Organizations
The list of approved Waterfront Development Organizations will be made available as organizations become approved for Fiscal Year 2017-2018.