Brownfield Tax Credits

Brownfields are abandoned or underutilized properties where expansion or redevelopment is complicated by environmental contamination. Brownfields may be found in every state, city, and town, as well as urban and rural areas, both large and small. It is estimated that there are potentially more than 450,000 brownfields in the United States.

As abandoned buildings or lots brownfields tend to have a decaying influence on the community and present a tremendous barrier to economic growth and opportunity. There are often large populations in the immediate area that need employment opportunities. Once it becomes economically feasible to clean up these sites they become prime spots for business, economic development and job creation.

The Brownfields Tax Credit Program is a powerful incentive for cities, developers and parties facing brownfields liability to transform the sites into job producing economic development.

An incentive-based tax credit program exists to foster redevelopment of contaminated (actual or presumed) industrial and commercial sites.

Brownfield tax credits are allowed only in state-approved Brownfield Redevelopment Authorities (BRAs).

Many communities offer tax and other incentives for brownfield remediation.

Incentis Group professionals structure incentives and credits packages ensuring all possible brownfield incentive opportunities are considered and that creative ideas are presented directly to federal, state, and local economic development officials. Our professionals have secured hundreds of millions of dollars of benefits for companies, reducing start-up, expansion, consolidation, and on-going operating costs.

For more information on Brownfield Tax Credits please use the request form or E-mail James Gomochak