KEYSTONE OPPORTUNITY ZONE (KOZ)

Lackawanna County, Pennsylvania offers many opportunities to invest and grow your business and real estate portfolio. Keystone Opportunity Zones (KOZ) offer tax incentives to residents, investors, developers and business owners who are located within the designated areas.

About KOZ

Companies that locate within a Keystone Opportunity Zone (KOZ) will enjoy tax exempt benefits.

Designated by municipality, school district and county and approved by the Commonwealth of Pennsylvania, KOZ-eligible tenants may be exempt from state and local business taxes through a designated period.

Taxes

Qualified businesses, property owners and residents may be exempt from the following taxes:

State Taxes

  • Corporate Net Income Taxes
  • Personal Income Tax
  • Sales & Use Tax (purchases consumed and used by the qualified business in the zone)
  • Bank Shares and Trust Company Shares Tax
  • Mutual Thrift Institution Tax

Local Taxes

  • Earned Income/Net Profits Tax
  • Business Gross Receipts
  • Business Occupancy
  • Business Privilege and Mercantile Taxes
  • Local Real Property Tax
  • Sales & Use Tax

Eligibility

Businesses that are new to the Commonwealth of Pennsylvania are eligible for KOZ benefits should they locate within a designated zone. Existing Pennsylvania businesses relocating into a Keystone Opportunity Zone must meet the following criteria to receive the benefits of the zone.

  • Increases full-time employment by at least 20% in the first full year of operation within the zone.
  • Makes a capital investment in the property located within the zone at least equivalent to 10% of the gross revenues of that business in the immediately preceding calendar or fiscal year attributable to the business location or locations that are being relocated to a zone.
  • Enter into a lease agreement for property located within the zone for a term at least equivalent to the duration of the zone and with the aggregate payment under the lease agreement at least equivalent to 5% of the gross revenues of that business in the immediately preceding calendar or fiscal year.

KOZ Approved Business Locations

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    Archbald Business Park (Archbald Borough)
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    Jessup Small Business Center (Jessup Borough)
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    Scott Technology Park (Scott Township)
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    Valley View Business Park (Jessup & Archbald Boroughs)
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    Archbald Business Route 6 Site (Archbald Borough)

Are you interested in finding more information about available KOZ Zones? Let The Scranton Plan serve as your one-stop resource, finding available buildings and land sites within Lackawanna County, Pennsylvania. Our inventory of available real estate options, combined with our long history of economic development and site selection services allow us to stand ready to help you attract, grow and sustain business within Northeastern Pennsylvania. Contact The Scranton Plan today to learn more about the Keystone Opportunity Zones available.