Mayor Muriel Bowser announced the FY2022 Fair Shot Budget to provide relief, recovery and growth for residents and businesses that have been hit the hardest. Investments include an additional 12,000 affordable housing units by 2025, greater equity in food access, rent and fee relief for small businesses, and downtown revitalization efforts. Meanwhile, across the Potomac River, Fairfax County is now home to 128 of the Inc. 5000 list of the country’s fastest-growing companies. Micro- soft, StarKist, Guidehouse and Intact Technology have announced projects in the metro area in the past year.
Qualified High-Tech Companies (QHTC): Offers tax credits to high-tech companies for training and wages paid to disadvantaged employees. Also offers sales and use tax exemptions and a reduced corporate franchise tax rate.
Creative and Open Space Modernization Grant (DC): Offers a tax rebate of up to the lesser of 10% of the total value of qualified improvements or $1 million for QHTCs that renovate or improve their offices.
Business/Professional/Occupational Licenses (BPOL) Tax Exemption (Fairfax County, Virginia): Offers exclusions and adjustments to BPOL taxes for software development companies and government computer hardware and software sellers.
Virginia Jobs Investment Program: Offers variable in- centives for job creation for manufacturers, distribution centers, headquarters, inbound call centers, business IT and R&D.
Washington DC Economic Partnership / wdcep.com
DC Economic Strategy / dceconomicstrategy.com
Office of the Deputy Mayor for Planning and Economic Development / dmped.dc.gov
The Washington DC Economic Partnership has released its DC Doing Business Guide, a “how to” manual that provides a step-by-step guide for entrepreneurs on how to start a new business, expand an existing business and connect with resources to help adapt their businesses to the current business climate.
Four Fortune 500 companies headquartered in Washington, D.C.:
11 Fortune 500 companies headquartered in Fairfax County, Virginia, including: