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Dec 21, 2017
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Keystone Opportunity Improvement Zone

Businesses located in the Navy Yard's Keystone Opportunity Improvement Zone enjoy tax reductions, exemptions, abatements, or credits in corporate taxes, franchise taxes, financial institution taxes, income taxes, and real estate taxes. In addition, most purchases of items subject to Sales and Use Tax will be exempt from state and local Sales and Use Tax for property used, consumed and utilized in the KOIZ.

The potential tax savings of businesses locating in the KOIZ differ greatly depending on the legal structure and revenues generated in the KOIZ and can only be determined by a qualified tax professional. Based on analyses prepared for specific companies, tax savings typically range between $10 and $20 per square foot annually; however, only a tax professional can help estimate the true potential savings.

Commonwealth of Pennsylvania Abatements

  • PA Corporate Net Income Tax
  • PA Personal Income Tax
  • PA Capital Stock/Foreign Franchise Tax
  • PA Insurance Gross Premiums Tax
  • PA Bank Shares Tax
  • PA Mutual Thrift Institutions Tax

City of Philadelphia Abatements

  • Philadelphia Business Privilege Tax
  • Philadelphia Nets Profits Tax
  • Philadelphia Sales & Use Tax
  • Philadelphia Real Property Tax
  • Philadelphia Use & Occupancy Tax

Who Qualifies

A business locating from outside of Pennsylvania into the KOIZ automatically qualifies—or a company relocating from Pennsylvania into the KOIZ can qualify—by satisfying one of the following requirements:
  • Increase its full-time employment by at least 20% in the first full year of operation with the KOIZ
  • Make a capital investment in the property located within the KOIZ equivalent to 10% of the gross revenues of the business in the preceding year
  • Enter into a lease through December 31, 2025 with the aggregate payment equivalent to at least 5% of the gross revenues of the business in the preceding year.

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