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Financing And Incentives

PIDC and our partners, the City of Philadelphia and Commonwealth of Pennsylvania offer a wide range of financing options and business incentives for companies locating to the Navy Yard.

Financing

PIDC offers a wide range of loans, tax-exempt financing, and technical assistance to businesses, developers, and non-profits of all shapes and sizes. Learn how we can connect you to the capital you need to grow.

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Tax Incentives

Keystone Innovation Zone (KIZ)

The Navy Yard Keystone Innovation Zone promotes technology innovation and commercialization through the collaboration of world-class academic institutions, federal, state, and local government agencies, and private industry, to support growth of research and business activity focused on the following technology sectors: Power and Energy, Nanotechnology, Advanced Materials & Manufacturing, Communications and IT, Homeland Security, Life Sciences.

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Keystone Opportunity Improvement Zone (KOIZ)

Businesses located in the Navy Yard's Keystone Opportunity Improvement Zone can qualify for tax reductions, exemptions, abatements, or credits in corporate taxes, franchise taxes, financial institution taxes, income taxes, and real estate taxes. In addition, most purchases of items subject to Sales and Use Tax will be exempt from state and local Sales and Use Tax for property used, consumed and utilized in the KOIZ.

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Real Estate Tax Abatements

The City of Philadelphia provides a 10-year abatement of incremental real estate taxes for new industrial and commercial construction, as well as for substantial improvements to existing buildings.

Federal and State Historic Tax Credits

The Navy Yard is a nationally certified historic district on the National Register of Historic Places. As a result, federal investment tax credits of up to 20% of renovation costs may be available for qualified building restorations, as well as a state tax credit of up to $500,000.

Research and Development Tax Credits

Established to assist the growth and development of technology-oriented businesses, particularly small startup technology companies, R&D tax credits are issued by the Commonwealth of Pennsylvania. Qualifying companies can sell unused R&D tax credits.

City of Philadelphia Job Creation Tax Credit

The City of Philadelphia offers a Job Creation Tax Credit, which may be applied against the Business Income and Receipts Tax for up to $25,000 per job created in 2015. Qualifying businesses may claim a credit of an amount equal to $5,000 per year over five years for each new full-time job created in the City of Philadelphia.To qualify, a business must demonstrate the ability to create at least 25 new full-time jobs, or increase fulltime workforce in Philadelphia by at least 20% within a five-year period.

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