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Moshannon KOZ likely to be extended

by on September 07, 2017 9:46 AM

BELLEFONTE — Stan LaFuria said extending the Keystone Opportunity Zone in Moshannon Valley could bring in more businesses to the area. 

LaFuria, executive director of the Moshannon Valley Economic Development Partnership, asked Centre County Commissioners on Sept. 5 to extend the life of the KOZ for another seven years, with the hope that job creation and business growth will pay off down the line while taxes are deferred in the short term.

Approval of the KOZ extension is a part of the deal LaFuria said is in the works with Organic Climbing LLC, a manufacturer of custom bouldering gear, which could possibly move into Lot No. 5 of the Regional Business Park. A total of four lots are available.

The KOZ there dates back to 1998, LaFuria said. KOZs in Pennsylvania are granted to specific partners for greatly reduced or waived local and state taxes.

The state Department of Community and Economic Development said KOZs have created 9,968 jobs in Pennsylvania and invested $1.5 billion in private capital into KOZ properties as of 2015.

LaFuria said the Philipsburg-Osceola School District and Rush Township have already approved the extension. The commissioners gave their initial approval and put the item on the consent agenda for Tuesday, Sept. 12.

In other news, the commissioners gave a platform to American Legion Post 444, which is collaborating with the Millheim Farmers Market and U.S. Department of Veterans Affairs for a Veterans Fest on Saturday, Sept. 16, from 10 a.m. to 1 p.m. Organizers said market vendors will be donating veggies and meats for shish kabobs, with proceeds to benefit the Veterans Assistance Fund.

There also will be VA representatives on hand to answer veterans’ questions. Veterans should bring their DD214 discharge papers if they have not had contact with the VA.

 

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