The City of Morgantown has adopted a New and Expanding Business Tax Credit for the Downtown District. This tax credit is meant to help spur development. New construction projects valued in excess of $5 million are eligible, if approved, to receive an 80% tax credit on the B&O tax for construction. New businesses that move into the district, if approved, can receive a tax credit of 80% the first year, 60% the second, 40% the third, 20% the fourth. The maximum total tax credit allowed is $300,000.
If you're interested in learning more about the New and Expanding Business Tax Credit contact the Finance Department at 304-284-2571. To be considered for approval a business must be current in all Business and Occupation taxes and all other city fees.