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Scarnati: Westfield Business Park Designated a Keystone Opportunity Zone
December 4, 2013
The Westfield Business Park in Tioga County has been designated a Keystone Opportunity Zone by the Pennsylvania Department of Community and Economic Development, announced Senator Joe Scarnati (R-25).
According to Scarnati the Westfield Business Park property, located at the site of the former Westfield Tannery, is the first Keystone Opportunity Zone (KOZ) in Tioga County. The application for KOZ designation was submitted by the Tioga County Development Corporation.
The Westfield Business Park redevelopment project converts 17.5 acres into a mixed-use site for light manufacturing, warehouses and office spaces.
“Development of the Westfield Business Park is an exciting project that will help to spur economic growth and expand job opportunities within our region,” Scarnati said. “The designation of the business park as a KOZ will significantly aid in the revitalization of the district by providing businesses located in the zone with state and local tax benefits.”
Scarnati explained that the Keystone Opportunity Zone program is a unique program that supports the development of abandoned, unused or underutilized land and buildings. The program provides certain state and local tax abatement within these designated zones located across Pennsylvania.
“I commend the Tioga County Development Corporation, as well as local government, business and community leaders for their hard work on this revitalization project,” Scarnati continued. “This business park represents a significant partnership between economic development agencies, state and local taxing bodies, community organizations and business groups.”
The KOZ program is administered by the Department of Community and Economic Development, partnering with Departments of Revenue and Labor and Industry. More information regarding the KOZ program can be found on the Department of Community & Economic Development website: www.newPA.com.