Keystone Opportunity Zones (KOZ) are such a breakthrough idea that Business Facilities magazine calls them “the number one economic development strategy in the nation.” By eliminating certain state and local taxes within specific underdeveloped and underutilized areas, communities within Pennsylvania are experiencing economic growth and investment. Since the KOZ program’s inception in 1999, it has led to the creation of new jobs and produced capital investment in real estate. Due to the tremendous success of the KOZ initiative, additional zones were added in 2001, 2003, 2004 and 2009.
The City of Reading both expanded and extended the Keystone Opportunity Zones in the city in 2012.
KOZ success stories include:
5-axis milling machine at Hydrojet, Inc. in Reading, a KOZ business success (courtesy Modern Machine Shop)
Sun Rich Foods in the Buttonwood Gateway Redevelopment Area (Courtesy County of Berks)
Resolution expanding Reading's Keystone Opportunity Zone: Resolution 69-2012
Resolution extending Reading's Keystone Opportunity Zone: Resolution 70-2012