Keystone Opportunity Zone

Keystone Opportunity Zones (KOZ) are specific commercial or industrial areas with greatly reduced or no tax burden for property owners, residents and businesses throughout the Commonwealth of Pennsylvania.

Some of these areas in Pennsylvania have been named Keystone Opportunity Zones with the idea of re-establishing and creating industrial and commercial centers throughout the state.

Businesses and companies that are already well established in Pennsylvania may become obtain KOZ benefits by increasing full-time employment within one year after receiving KOZ status or by making capital investments equal to 10 percent of the previous years gross revenue.

[5] Olympus Corporation, a Japanese company specializing in optics and imaging, opened its American headquarters in a Keystone Opportunity Zone in Upper Saucon Township, Lehigh County in 2006.

Other companies to recently move to or open new offices in Pennsylvania include Duke Energy, International Paper, DuPont, and Caremark Rx.