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Place-Based Incentives

Keystone Opportunity Zones (KOZ)
KOZs are specifically designated areas where property owners and businesses that meet capital investment or new employment targets pay little or no tax through 2013, 2018, and 2025. These taxes include Business Privilege Tax, Use and Occupancy Tax, Real Estate Tax, Net Profit Tax, State Business Tax, and State sales tax on items consumed at the KOZ site. KOZ sites are located throughout the City including in our industrial parks, in our high tech centers and at the Navy Yard.

Keystone Innovation Zones (KIZ)
KIZs are Commonwealth-designated areas that foster job growth by connecting discoveries in educational institutions to technology transfer and entrepreneurship. Companies locating in a KIZ, in operation for less than 8 years and meeting targeted industry requirements specific to each zone, are eligible for certain benefits including state tax credits. For more information please visit Philadelphia’s two KIZs – the Navy Yard KIZ and the University City KIZ.

Empowerment Zones
Empowerment Zones (EZ) were created by the federal government to revitalize deeply distressed urban neighborhoods. This initiative targeted three neighborhoods in Philadelphia – American Street, North Central and West Philadelphia – for intensive social, economic, physical, commercial and social revitalization activities. While many federal benefits for locating in these zones expired in 2009, businesses can still take advantage of lending opportunities through the community lending institutions: Finanta, North Philadelphia Financial Partnership, and West Philadelphia Financial Services Institution.

For additional information, view a map of the Empowerment Zone area.