New website takes advantage of Philly tax breaks
In an effort to lure young technology startups and to keep many of them in Center City, Mayor Michael Nutter’s administration hasn’t been shy about offering tax breaks.
Nutter welcomed new technology startup Brand.com to the Curtis Center on Tuesday, the latest example of a handful of technology companies that moved to the city within the last year.
Essentially, Brand.com shapes a company’s online reputation. The company moved from West Chester.
“Companies are coming here … growing technology and entrepreneurial communities,” Nutter said.
To grow the business environment: “Start with a full exception from the city’s business income and receipts tax for the first two years of operation,” Nutter said. “If you start in that first year with three employees, and second year with another three, you pay no business taxes here in the city of Philadelphia.”
“We waive all fees for qualified businesses from a variety of licenses and regulatory requirements and their commercial activity license,” he added. “Starting in 2014, there will be phased in a set of exceptions to the BIAR tax for all businesses across Philadelphia and we’re renewing efforts to restart waste tax reductions.”
Other technology companies that have moved to Philadelphia in the last year include Fiberlink, Bentley Systems, SevOne and Bulogics. Companies like Curalate, Artisan, Seer Interactive and RJ Metrics chose to stay.