Keystone Opportunity Zones (KOZs)August 11, 2015
Provides certain state and local tax abatement to businesses and residents locating in designated zones.
Businesses, property owners and residents that are located in a KOZ, KOEZ/KOIZ are eligible to receive significant state and local tax benefits.
Projects in KOZ/KOEZ are given priority consideration for assistance under various community and economic building initiatives.
Qualified businesses, property owners and residents. Qualified means you satisfactorily meet the necessary criteria listed in the Act and submit an annual application.
Pennsylvania businesses relocating to a KOZ/KOEZ must either: Increase their full-time employment by 20% within the first full year of operation, or make a 10% capital investment in the KOZ/KOEZ property based on their prior year’s gross revenues. Eligibility for benefits is based upon annual certification. In order to receive benefits, any entity applying must be compliant with all local and state taxes and building and zoning codes.