| KOZ and Other Incentive
Zones
Most of PIDC’s
properties are located in designated incentive areas which include
specific entitlements to tax abatements, low interest loans and
other benefits. Here are Philadelphia’s most active, land-based
incentive programs:
| KEYSTONE
OPPORTUNITY ZONE (KOZ) |
| This State program designates
500 acres in 12 zones throughout Philadelphia virtually exempt
from state and local business taxes until 2013, 2018, and
2025, depending on State approval for the length of the benefit.
To learn which properties are designated KOZ, visit www.philakoz.org. |
| |
| EMPOWERMENT
ZONE (EZ) |
| Philadelphia offers three
EZs where concentrated federal, state and local resources combine
to offer low-interest financing, federal wage tax credits and
tax-exempt bonds |
| |
| RENEWAL
COMMUNITIES (RC) |
| This new Federal program
includes significant sections of North, South and West Philadelphia
where federal tax credits/deductions and a zero percent capital
gains tax are available. |
| |
| ENTERPRISE
ZONE |
| Four state Enterprise Zones
in Philadelphia are eligible for a variety of incentives, including
low-interest loans, security rebates, state tax credits and
technical assistance. |
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