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The American Street Corridor Keystone Opportunity Zone (KOZ) is comprised of forty-three acres of 1-to-3 acre developable parcels and older industrial buildings along the American Street Corridor between Front Street, 5th Street, Girard Avenue and Lehigh Avenue and vacant developable parcels east of Temple University. This zone, like all other KOZs, KOEZs, and KOIZs, is free of all specific state and local taxes. |
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Primarily zoned G-2 industrial, this area is ideal for manufacturers and warehouse distributors needing easy access to Center City, I-95, the ports and bridges. It is less than 10 minutes from I-95 at the Center City entrance. In addition, the area behind Temple University is ideal for the hi-tech or University-related uses. And good public transit throughout the zone makes the area attractive from a workforce perspective. A strong residential community within walking distance of some parts of this Zone provides another good source of labor. |
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An active business association reflects the interests and involvement both of long-standing companies as well as more recent move-ins. In part, this has led to multi-million dollar public investment in the last decade in infrastructure improvements, environmental clean-up, demolition of abandoned multi-story buildings and acquisitions of properties adjacent to or close to existing businesses. |
Since much of this KOZ is also in both the Enterprise and federal Empowerment Zone, you may be eligible for some of the most attractive, below-market financing terms in the City, in addition to the KOZ tax exemptions. The Philadelphia Industrial Development Corporation (PIDC), the City of Philadelphia's economic development arm, can help you assemble a subordinated financing package for property acquisition, construction and related costs. *For answers to questions about development opportunities within this or any other KOZ, KOEZ, or KOIZ, call the KOZ Hotline at 215.683.2128. |
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