Economic Development Tools - Investment Incentives

Select an incentive for more details, application, and contact information.

  • Multi-Family Tax Exemption

    A 25-unit project can net approximately $320,000 in property tax savings over 8 years or $490,000 over 12 years. More info.

  • Historic Preservation

    $500,000 in improvements to a historic structure can net $68,000 savings in property taxes over 10 years. More info.

  • GFC Fee Waivers

    Many types of projects can save between $1,200 and $50,000 in water connection costs and between $2,400 and $99,000 in sewer costs. More info.

  • Commercial Rate Clarification

    A 10-unit commercial to residential conversion project can net approx. $6,400 in annual utility rate savings. More info.

  • Single Family Tax Exemption

    When you decide to make home improvements through remodeling and additions, there is a three-year property exemption program available. More info.

Technical Assistance

Community Empowerment Zone

Community Empowerment Zone (CEZ's) the CEZ designation enables economically disadvantaged urban areas to qualify for special tax incentives intended to support reinvestment in the zone. Reinvestment is expected to create business and job growth. Qualified businesses located in the zone, or that hire residents of the zone, may apply to the Department of Revenue for sales tax deferrals and business and occupation tax credits. More info.

Opportunity Zones

Opportunity Zones (OZ's) are a new community development program established by Congress in the Tax Cut and Jobs Act of 2017 to encourage long-term investments in low-income and urban communities nationwide. More info.

Brownfields

The City of Spokane Brownfields Program is a program that assists City Departments and qualified private individuals, businesses, and nonprofit organizations to assess and cleanup contaminated sites, or Brownfields. This in turn achieves greater use of existing land, revitalizes neighborhoods, and drives economic development. Brownfield development is one of the key strategies for the City's Economic Development Strategy. More info.

There are other investment incentives in the toolbox

Your Economic Development Specialist will work with you to ensure your investment in Spokane is matched with all investment incentives available to your industry or property by connecting you with City, State, and Federal Assistance – contact them today 509.625.6033 or incentives@spokanecity.org.


Contact Information

Contact an Economic Development Specialist at:
509.625.6033
888.390.HACK (4225)
incentives@spokanecity.org
hackingwashington@spokanecity.org.