The Herald, Sharon, PA Published Wednesday, Feb. 21, 2001

SHARPSVILLE

Tax-free zone for land in borough approved

Sharpsville school directors Tuesday unanimously agreed to create a new Keystone Opportunity Expansion Zone in the area of the former Sharpsville Quality Products and land owned by Norfolk and Southern Railroad near Sixth and Shenango streets in the borough.

Borough council approved the same resolution Feb. 14. The resolution states the borough "recognizes the need to encourage investments" in the area of SQP and the railroad land, which is "experiencing distress characterized by high unemployment, low investment of new capital, blighted conditions and underutilized, obsolete or abandoned industrial, commercial and residential structures and deteriorated tax base."

Mercer County commissioners and the state Department of Community and Economic Development also have to approve the zone. If they do, a new business in the zone would be free from paying state or local taxes for up to 13 years. An existing business in the zone would continue to pay state and local taxes, but it would be exempt from paying property taxes on an addition or expansion to its building or property.

The original Keystone Opportunity Zones were created in 1998, including one along the Broadway corridor in Hermitage, Wheatland, Farrell and Sharon.

Other local expansion zones being sought are an addition to the Broadway corridor zone in Farrell and Reynolds East Business Park. Grove City council on Monday rejected attempts to seek a zone at the Cooper Energy Services plant.



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