Vacant apartments, empty storefronts, and other underused buildings in Cambria County could soon have a second chance.
The county has been authorized to apply for a new Keystone Opportunity Zone, or KOZ, that would provide state tax incentives to encourage private investment in properties that are no longer contributing to the local economy.
The program will cover up to 300 acres across the county, with at least 40 of those acres set to be in the city of Johnstown.
“This is going to provide an excellent opportunity for the city to put itself back on good economic footing by bringing in outside investment, and hopefully we can have that economic success be spread out through the rest of the county as well,”
Local municipalities now have until the end of the month to submit vacant or underutilized properties for consideration.
Officials say that a regional working group will review those sites before a final application is sent to the state this fall.
If approved, those who choose to redevelop properties within the zone could qualify for state tax abatements for up to 10 years.
But those benefits aren’t automatic.
“To receive the abatement from the state, you have to apply each year. That includes how much you’ve invested into the property, how many jobs are being providedSouthern Alleghenies and other economic development partners will review the local compliance aspect to make sure someone’s actually doing redevelopment at these sites.”
State representative Frank Burns, who helped secure the new KOZ authorization, says the incentives could help communities that have struggled with vacant properties for years.
Burns also sponsored a separate residential revitalization KOZ for Cambria County. That program will focus specifically on housing redevelopment, with applications due to the state in 2029.
“This has the opportunity to be truly transformational for the city of Johnstown. This provides the tools and the incentives that are going to create the transformational change that we talk about.”
The deadline for municipalities to submit properties for this current KOZ application is July 31st.