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City of Newcastle

 

 

 

 

View Incentives
View Area Facts and Figures

 

You must register your business with the State of Washington and the City of Newcastle if you are conducting business within the City. Click here for the State’s Department of Licensing website to complete the on-line application.

Some types of businesses require special licenses and permits. The State can be helpful in describing some of these, but the City’s Business Checklist also outlines some of the possible requirements.

Special licenses include:

Newcastle Alarm System Operators License
State Liquor Board License
State Professional Licenses

Incentives
The City of Newcastle has identified a number of money-saving programs available for businesses. Select one of the following categories for a list of incentives and descriptions.

Tax Credits for Hiring New Employees
Work Opportunity Tax Credit
Federal tax credit up to $2,400 for new hires from groups that have high unemployment rates or other special employment needs. These groups include, but are not limited to veterans, ex-felons, youth from specific areas, or citizens receiving assistance.

Internal Revenue Service
website: IRS - www.irs.gov
IRS form 5884

Welfare to Work Wage Credit
Two-year federal tax credit for hiring long-term family assistance recipients. The credit is available for 35% of the employee’s first-year qualified wages and 50% for the second-year wages.

Internal Revenue Service
website: IRS - www.irs.gov
IRS form 8861
Employee Training Assistance
Workforce Investment Act (WIA) WorkSource
Can fund training costs for WIA eligible new applicants for entry level positions and on-the-job (OTJ) training costs for incumbent workers selected for advancement for higher skilled positions.

Worksource
website: www.worsourceskc.org
phone: 206.436.8600

Washington’s Job Skills Program (JSP)
Funds half the cost of a customized training program for new or current employees for a business. Employers provide a cash or in-kind match to fund the other half. The training can be provided at the work site or in a classroom. JSP’s central focus is to provide training and employment opportunities for the unemployed, or those at risk of losing their jobs due to technological or economic changes. Funding is provided through licensed educational institutions in Washington.
Industry Related Tax Incentives
Small Business B&O Tax Credit
A credit is available for small businesses and is adjusted to the amount of B&O tax liability. The net B&O tax liability must be below $71 for monthly taxpayers, $211 for quarterly taxpayers, or $841 for annual taxpayers.

Washington State Department of Revenue
website: http://dor.wa.gov
phone: 206.956.3002

Research and Development Business and Occupation Credit
A 1.5 percent business and occupation tax credit can be taken on research and development expenditures other than capital improvements. The specified activities the credit can be applied to are advanced computing, advanced materials, biotechnology, electronic device technologies, and environmental technologies. The credit is limited to $2 million per year.

Washington State Department of Revenue
website: http://dor.wa.gov
phone: 206.956.3002

High Technology Sales/Use Tax Deferral
A sales and use tax deferral for research and development and pilot scale manufacturing firms in specified high technology categories. These categories include biotechnology, electronic device technology, environmental technology, advanced computing and advanced materials. Prior application with Department of Revenue is required.

Washington State Department of Revenue
website: http://dor.wa.gov
phone: 206.956.3002

Custom Computer Software Exemption
Software designed for a specific need for a single person or group of persons is exempt from property tax. Included in the definition is modification of canned computer software.
Housing Related Tax Incentives
Coming soon...
Area Facts and Figures
The City is a symbol of the region’s recent economic success and investing here is a rare opportunity to serve an exclusive clientele. An elite golf course, an expanding number of medical services and unique outdoor activities are just a few of the reasons Newcastle is both a destination for visitors and home to a growing number of residents.

Population: 10,410 (2011)
Median Income: $100,030
Vehicles Per Day: 22,000
Median Age: 39.8 years

* Population and income based on 1.3 mile radius from City center

The City of Newcastle has created an easy guide to some of the most important data requested by retail businesses. Click here to download the Newcastle Retail Brochure.

U.S. Census Bureau Data
Website: Census Bureau American Fact Finder

For additional questions and information on any business related issues
Email:  SaraM@ci.newcastle.wa.us

   

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