CHAMBERSBURG, Pa. - The Letterkenny Industrial Development Authority is seeking local government approval to extend the lifespan of a tax-free zone in the Cumberland Valley Business Park in an attempt to attract more industries and develop raw land.
The Keystone Opportunity Zone (KOZ) was established in 1999 for 280 acres of raw land and one building in the business park, LIDA Executive Director John Van Horn told the Chambersburg School Board earlier this month.
Businesses that developed those properties received exemptions from local real estate taxes, as well as state sales and use taxes and the corporate net income tax, Van Horn said. Seventy-eight acres have been developed with $4.2 million in construction and 182 jobs created, he said.
Much of the KOZ remains undeveloped, one reason being locally imposed criteria, including a requirement that businesses pay an average of three times the minimum wage. Those were later done away with, and school district solicitor Jan Sulcove said at the Jan. 14 meeting the state will not allow locally imposed requirements that are not authorized by legislation.