Keystone Opportunity Zones (KOZs)

Through credits of Governor Ridge and the Commonwealth of Pennsylvania, the state approved 12 Keystone Opportunity Zones (KOZ), designed to foster both community and economic development and serve as a platform to: encourage business attraction and retention, promote reinvestment in housing, improve educational opportunities, implement crime prevention strategies and improve the overall quality of life in these areas. Since the program's inception in 1999, the program has lead to the creation of more than 34,000 jobs across Pennsylvania and approximately $10.7 billion in business development. LVEDC administers the program on behalf of PA DCED.

Businesses looking to relocate from out of state into a KOZ simply need to own or lease property within the zone for at least half the tax year to claim an exemption from state and local taxes.

Businesses already in Pennsylvania can also move into a KOZ and be exempt from taxes, provided they either: increase full-time employment by at least 20 percent in their first full year in the zone or make a capital investment equal to 10 percent of their previous years gross revenues.

The Greater Lehigh Valley and Pocono regions KOZ contains 780 acres of land within Lehigh, Northampton and Monroe counties. This zone contains a technology-ready corridor in downtown Allentown.

To learn more about how Lehigh Valley KOZ's can help your company thrive contact Laurie Demko at 610.266.2218 or ldemko@lehighvalley.org.