Old City Hall

Old City Hall is located in a Pennsylvania Keystone Opportunity Zone.
For more information on this site contact Debbie Huston at (814) 36-7170, ext. 17.For other KOZ sites in the Bradford area contact Betty Cochran at (814) 368-7170, ext. 14.

The goal of the Keystone Opportunity Zone program is to encourage investment in distressed areas by providing businesses with relief from many local and state taxes. Businesses must meet specific criteria set by the state, but once they qualify, property owners will be exempt from most state and local taxes until at least 12/31/10.

State corporate net income, capital stock and franchise and personal income taxes, along with county, borough and school real estate taxes, business gross receipts tax, occupancy and privilege taxes, mercantile taxes and earned income are all waived.

"Tax-free Keystone Opportunity Zones provide a powerful incentive to bring new jobs, new families and new hope to our communities," said former Governor Tom Ridge. "What better incentive is there to create jobs and build stronger communities than to eliminate taxes?"

In each zone, state corporate net income, capital stock and franchise taxes are waived for the duration of the program for employers doing business in KOZs. Local governments have agreed to waive local real estate, earned income/net profits and business gross receipts taxes. Employers and residents must be up to date with all state and local tax payments to receive the tax-free status offered by KOZs.

Lafferty Hollow Industrial Park

Lafferty Hollow is located in a Pennsylvania Keystone Opportunity Zone.

For more information on this site and other KOZ sites in the Bradford area contact Betty Cochran.

(814) 368-7170, ext. 14.

The objectives of the Bradford area KOZ are:

Encourage local manufacturing firms to expand on vacant and underutilized land in the KOZ. The Bradford KOZ includes lands of American Refining Group, Dresser Manufacturing, KOA Speer, Bradford Forest Products, Case Cutlery, Keystone Powdered Metal, and Belser and Hale. The land included in the Bradford KOZ are vacant parcels located adjacent to the manufacturing facilities.

Develop an industrial park and other vacant or underutilized industrial sites on land located within the KOZ. The Bradford Economic Development Corporation in cooperation with the OECD is developing the 350 acre Lafferty Hollow Industrial Park The entire industrial park is located in a KOZ.

Provide financial incentives to a limited number of older structures that are very costly to upgrade. This includes the Old Post Office, Old City Hall and the Salvation Army.

Improve existing Brownfield sites for new industrial use. These sites are in need of clean up and site improvement to make them attractive for new development.

The Bradford Area KOZ consists of 18 sites comprising 477 acres. Another 7 sites comprising of 353 acres has been approved under the Keystone Opportunity Expansion Zone (KOEZ) Program. Most state and local taxes on the KOEZ sites are exempt until 12/31/13. The size of the sites range from 1/2 acre to 350 acres. The Bradford KOEZ includes lands of Bradford Forest, Inc., W. R. Case & Sons Cutlery Company, Bradford Economic Development Corporation (Lafferty Hollow Industrial Park) and Bradford City Water Authority.

For more information about McKean County KOZs go directly to the State's KOZ page.

The OECD maintains data on each KOZ site and inquiries may be directed to Betty Cochran at (814) 368-7170, Ext 14 or email at bcochran@bradfordpa.org.