The City of Allentown encompasses 17 square miles of diverse real estate, including manufacturing, industrial, commercial, and mixed-use space. Contact our business development department at 610-437-7610 for your specific needs.
Keystone Opportunity Zones (KOZ)
Locating your project to a Keystone Opportunity Zone can provide several tax advantages to your project that make your job creating project more financially feasible. Businesses locating in, or relocating to, a KOZ must either increase their full-time employment by 20 percent within the first full year of operation, or make a 10 percent capital investment in the property, based on their prior year’s gross revenues. The KOZ in the City of Allentown is operated by the Lehigh Valley Economic Development Corporation.
Benefits: Businesses that locate within a KOZ enjoy the waiver, abatement or exemption of certain state and local taxes.
Depending on the situation, the tax burden may be reduced to zero through exemptions, deductions, abatements and credits for the following:
State Tax abatement includes: Corporate net income tax; Capital stock and foreign franchise tax; Personal income tax; Sales and use tax on purchases consumed and used by a business in the Zone; Mutual thrift institution tax; Bank and trust company shares tax; Insurance premiums tax; Earned income/net profits tax; Business gross receipts; business occupancy; business privileged and mercantile tax; Sales and use tax on purchases consumed and used by a business in the Zone;
Property taxes: including school district; local real estate taxes.
Local taxes: Earned income/ net profits tax; business gross receipts tax; business occupancy tax; business privilege tax; and mercantile tax.
You are eligible if:
- You are a real property owner, business or resident who is located or has relocated into a Zone and has resided there for 184 consecutive days.
- You are a business relocating into a Zone you must either increase your full-time employment by 20 percent within the first year of operation or make a 10 percent capital investment in the property based on the prior year’s gross revenues.
- You are a resident or business and are compliant with all local and state taxes and building and zoning codes.
- You are a real property owner and are compliant with all local and state taxes and building and zoning codes.
- You make your annual application to the Pennsylvania Department of Community and Economic Development to receive these benefits.
Industrial Real Estate
Work with the Allentown Economic Development Corporation to identify appropriate industrial real estate, and provide solutions for manufacturing/industrial projects.
Redevelopment of brownfield sites is the ultimate, sustainable land re- use strategy. Through partnering with Lehigh Valley’s Land Recycling Initiative and the Lehigh Valley Economic Development Corporation, we can help you develop, plan, finance, and implement a successful sustainable project on an Allentown brownfield site. For additional information, click here.