What is a Keystone Opportunity Zone?
Designated by the local community, county, and school district and approved by the state, the Nesquehoning Green Acres Keystone Opportunity Zone (KOZ), is 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 and training opportunities • Improve the overall quality of life in the area Businesses looking to relocate from out of state into our KOZ simply need to own or lease property within the zone during the tax year to claim an exemption from state and local taxes. Businesses already in Pennsylvania also can move into our 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. Why Move to a Keystone Opportunity Zone? STATE AND LOCAL TAXES ARE WAIVED TILL 2010! State and Local
