Philadelphia makes sense as a location for your business, and the Department of Commerce can help find the right site for companies looking to relocate or expand. As the 5th largest city in the country and as the region’s economic hub, Philadelphia is at the center of a sophisticated transportation network providing access to expanding markets along the Northeast Corridor.

There are a number of existing buildings and build-to-suit opportunities for both office and industrial users. Many properties and buildings are located within special incentive zones, and sometimes City-owned properties or properties that are tax delinquent are available for development purposes. The Board of Revision of Taxes is responsible for valuation of all Real Property within the City of Philadelphia, and their website is an excellent way to research ownership and property tax liability for individual properties. Other parcel research can be done through CityMaps; an online tool created by the City of Philadelphia to map, among other things, a parcel’s current zoning, aerial photograph, nearby public facilities such as hospitals and bus routes, and service areas including police districts and City Council districts.

Read more about our special incentive zones below. For the most accurate information on incentive zone boundaries and available properties, please contact us.

Keystone Opportunity Zones (KOZ)
KOZs are specifically designated areas where property owners and businesses that meet capital investment or new employment targets are required to pay little or no tax through 2010, 2013 or 2018. These taxes include Business Privilege Tax, Use and Occupancy Tax, Real Estate Tax, Net Profit Tax, State Business Tax, and State sales tax on items consumed at the KOZ site. KOZ sites are located throughout the City including in our industrial parks, in our high tech centers and in the Philadelphia Naval Business Center. You can find out more about Keystone Opportunity Zones at the Philadelphia's KOZ website.

Keystone Innovation Zones (KIZ)

KIZs are Commonwealth-designated areas that foster job growth by connecting discoveries in educational institutions to technology transfer and entrepreneurship. Companies locating in a KIZ, in operation for less than 8 years and meeting targeted industry requirements specific to each zone, are eligible for certain benefits including state tax credits.  For more information please visit Philadelphia’s two KIZs – the Navy Yard KIZ and the University City KIZ.

Renewal Community
As a designated Renewal Community, Philadelphia is equipped with a package of federal tax incentives that will attract business investment to underdeveloped neighborhood commercial corridors in sections of North, West and South Philadelphia. One of the most important tools available, the Commercial Revitalization (CR) Deduction, is a tax incentive available to developers and businesses that construct or rehabilitate commercial properties within the Renewal Community. The CR Deduction is a tax benefit accelerating depreciation for businesses located in the Renewal Community. Additional Renewal Community benefits include employment credits, increased tax deductions for environmental clean-up and capital investments, and no tax on capital gains for assets held for over five years. For additional information, view a map of the Renewal Community area, or call the Renewal Community hotline at 215/686-0458.