In addition, the taxpayer must provide the number of new jobs created in the development zone that were filled by residents of the zone. Designations last for four years. Application is made to DCA at the request of a taxpayer or unit of local government. There are no tier thresholds, wage tests, industry classifications or applications for this credit. It is taken in five equal installments beginning in the taxable year the property is placed in service.
Election is made when taking the first installment.