Special incentives are available for businesses in certain areas of the city.
Location-based incentives make areas attractive for business
Multiple programs exist to drive economic growth in targeted areas of the city.
Empowerment Zones help generate economic growth in targeted areas of Philadelphia. Grant opportunities are available in three designated Empowerment Zones.
Every year, a total of $15 million in tax credits is available through the Keystone Innovation Zone (KIZ) program. This program distributes funds around the state of Pennsylvania. Life sciences and tech businesses in three specific areas of the city may be eligible to apply.
Keystone Opportunity Zones (KOZ) are areas designated by the Commonwealth of Pennsylvania that would benefit from additional investment. Businesses in these areas are exempt from most business taxes.
Federal Opportunity Zones provide businesses with tax incentives that help the City grow.