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State officials: NIZ businesses generate millions in tax dollars

By 69 News, (follow: @69news), news@wfmz.com
Published On: Mar 04 2014 04:05:01 PM CST
Updated On: Mar 04 2014 05:20:16 PM CST

State officials say businesses within Allentown's Neighborhood Improvement Zone, or NIZ, generated millions of dollars in taxes last year.

State officials say businesses within Allentown's Neighborhood Improvement Zone, or NIZ, generated millions of dollars in taxes last year.

The Department of Revenue says $48.2 million in state tax revenue in 2013 is from the businesses within the NIZ.

The NIZ is funded by its development authority's insurance bonds for revitalization efforts.

The bond debt is then repaid by state and local NIZ taxes.

NIZ projects include Two City Center and the PPL Arena.