The Economic Development Incentive Program (EDIP) - Tax Credit is a financial incentive developed for non-residential building owners to promote the construction or the alteration of eligible buildings.
The owner of an eligible building will be granted a tax credit for a period of 60 months. This credit is equal to a percentage of the increase in the general property tax value following completion of the eligible work.
The maximum amount that may be credited to an evaluation unit is 1.5 million dollars per year. The program eligibility period ends on December 31, 2018.