Pennsylvania Waterfront Development Tax Credit
Receive a 75% tax credit for helping communities throughout the Commonwealth build new waterfront parks, trails, and public amenities.
Pennsylvania’s Waterfront Development Tax Credit is an innovative tool that helps communities fulfill the potential of their waterways. Established by the Pennsylvania General Assembly with bipartisan support in 2016, the WDTC program encourages private investment in waterfront property that creates public access to the water, increases property values, restores ecology, and creates jobs and economic growth.
Your business can apply by following these simple steps:
1. Apply
Complete an application via DCED’s Electronic Single Application (ESA) system. The application period for businesses applying for the program opens October 17th. A complete walkthrough of how to complete the ESA may be found at bit.ly/ESAppGuide. Your application will be evaluated by DCED and the Pennsylvania Department of Revenue. There is no minimum or limit to how much a business can contribute, so your company can give as little or as much as you have in liabilities.
2. Donate & Verify
Once you’ve received notification of approval from DCED, your company can then make its contribution directly to Riverlife as the designated Waterfront Development Organization within 60 days of the date of the approval letter. Riverlife will quickly provide you with a Contribution Receipt. Your company then provides the Contribution Receipt to DCED within 90 days of the date of the approval letter.
3. Earn Tax Credit
The Department of Revenue considers Tax Credits awarded to be effective on the first day of the taxable
year in which the contribution was made. Upon the issuance of the Tax Credit Certificate, DCED will notify the Department of Revenue that your company has been awarded a Tax Credit within the program.
Thank you to the companies who have already utilized the Waterfront Development Tax Credit to support Pittsburgh’s riverfronts
Questions? Contact Sarah Spiegel, Director of Development, at sarah@riverlifepgh.org or 412-258-6636 x 110
