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Keystone Opportunity Zone designation extended for 4 lots in Moshannon business park

The Keystone Opportunity Zone designation has been extended for seven years for four lots in the Moshannon Valley Regional Business Park.
The Keystone Opportunity Zone designation has been extended for seven years for four lots in the Moshannon Valley Regional Business Park. Centre Daily Times, file

The Centre County Board of Commissioners at its meeting Tuesday extended the expiration date for the Keystone Opportunity Zone for four unsold lots in the Moshannon Valley Regional Business Park.

The move extends the terms of exemptions, deductions, abatements and credits for real property, earned income tax, net profits mercantile and business privilege taxes for the lots.

The extension period is Jan. 1 to Dec. 31, 2024, for lot Nos. 3, 5, 6 and 11 in the business park.

The KOZ program, which started in 1998, is a partnership between Rush Township, Philipsburg-Osceola Area School District, Moshannon Valley Economic Development Partnership and Centre County, said Stan LaFuria, MVEDP executive director.

There is tax forgiveness, but there’s also new tax dollars because of the KOZ, he said.

If everything goes as planned, a new manufacturing plant will move into lot No. 5, LaFuria said.

The space will be occupied by Organic Climbing LLC, owned by Josh Helke, LaFuria said.

Organic Climbing manufactures bouldering gear, such as crash pads and bags, according to its website.

Helke is a modern-type business owner, and he’s “energetic,” LaFuria said.

He said Helke will create new jobs and be required to create a minimum of five jobs.

Commissioner Mark Higgins said there’s a lot going on in the Philipsburg area in terms of business development, adding that he was “enthusiastic” in supporting the KOZ extension.

Sarah Rafacz: 814-231-4619, @SarahRafacz

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