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 (currently unavailable)

This Washington State incentive was not reauthorized in the 2021 Legislative Session and it is uncertain if it will be reauthorized in the future. Please contact Diana Divens diana.divens@commerce.wa.gov with Washington State Department of Commerce with question.

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: Asbestos, & Vermiculite

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. Some of the same assistance for Brownfields is also available to sites that are contaminated with Asbestos and/or Vermiculite (the insulation), which in Spokane is regulated as Asbestos by Spokane Clean Air. Assisting in cleaning up sites 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 509.625.6597 or incentives@spokanecity.org.


Contact Information

Contact Teri Stripes,
Economic Development Specialist at:
509.625.6597
incentives@spokanecity.org