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Keystone Enterprise Zone

The PA Department of Community & Economic Development has designated the entire City of Altoona as a Keystone Enterprise Zone. This gives economic development projects access to capital through state managed programs like the Keystone Communities Revitalization Loans and the Local Enterprise Zone Revolving Loan Fund, managed by the Altoona Blair County Development Corporation (ABCD Corp.). Businesses in a Keystone Enterprise Zone may get priority in bidding state contracts, applying for financial aid to clean up contaminated sites under Act II, or even applying for a liquor license. In addition, firms making an investment in the Keystone Enterprise Zone have access to Neighborhood Assistance Program Enterprise Zone Tax Credits. Please contact ABCD Corp. at 814-944-6113 or www.abcdcorp.org for more details.

Federal Qualified Opportunity Zone (or QOZ)

The City of Altoona also is home to a Federal Qualified Opportunity Zone (QOZ), as authorized in the Tax Cuts and Jobs Act of 2017 and designated by the Pennsylvania Department of Community and Economic Development (https://dced.pa.gov/programs-funding/federal-funding-opportunities/qualified-opportunity-zones/). "Opportunity Funds" managed by private firms and professionals are being formed to invest directly into such zones. Individuals may also form, fund, and self-manage an Opportunity Fund through a "self-certification" process. Investments made through these special funds in these zones may be allowed to defer or eliminate federal taxes on capital gains. Altoona's QOZ is shown in blue on the map below, and it overlaps with the City's LERTA in Downtown Altoona. Any questions about the City's QOZ should be directed to the Altoona Blair County Development Corporation at 814-944-6113 or https://www.abcdcorp.org.

The City of Altoona welcomes investment. Altoona City Council, staff of the Altoona Blair County Development Corporation, and the City's Department of Community Development have decades of experience in helping business dreams become a reality in one of Pennsylvania's most beautiful revitalizing cities. We are prepared to assist you as your economic development concierge every step of the way, from identifying capital and investors to finding sites. Please contact the City of Altoona or ABCD Corporation for assistance.