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New Morgan Business Center site designated as KOZ area

By 69 News, (follow: @69news), news@wfmz.com
Published On: Mar 14 2013 03:51:38 PM CDT
READING, Pa. -

Southern Berks County's economy may soon get a shot in the arm.

The Pennsylvania Department of Community and Economic Development has designated 206 acres of the New Morgan Business Center site as a Keystone Opportunity Zone.

The newly designated zone features 206 acres of land either for sale or for lease adjacent to the Morgantown interchange of the Pennsylvania Turnpike, said officials with the Berks County Economic Partnership.

Its central location, officials said, enables businesses to draw from a labor pool encompassing not only Berks County, but also neighboring Chester, Lancaster, Montgomery and Schuylkill counties.

"We are excited to be able to promote the New Morgan Business Center site as a KOZ area," said Jon Scott, president and CEO, Greater Reading Economic Partnership. "This unique program allows Greater Reading to develop underutilized land and buildings by providing tax relief at both the state and local level."

The KOZ designation allows for various tax credits, waivers and broad-based abatements, officials said, as a way of encouraging businesses to expand or relocate to the area.