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Job Creation Tax Credit
City Councilman At-Large W. Wilson Goode, Jr. has introduced the “Job Creation Opportunity Extension Bill”. The legislation extends a two-year employment stimulus program under which a credit against the City's business privilege taxes will be given to businesses that create new jobs within the City of Philadelphia. The businesses will receive a $3000 credit for each new job created for tax years 2012 and 2013, in addition to 2010 and 2011.
The Job Creation Tax Credit Program was established in May 2002 to encourage businesses to expand employment within the City of Philadelphia. It is based on the Commonwealth of Pennsylvania’s Job Creation Tax Credit program and offers a credit against the firm’s Business Privilege Tax liability for each new job created. The program can be utilized by companies of any type or size located anywhere in the city.