Dave Dayton, chairman of Grove City Revitalization Inc., was excited Monday after Grove City council designated the former Cooper Bessemer property a Keystone Opportunity Zone.

Without it, "we'd have this liability sitting on the edge of town, instead of something that has the potential to bring business into the downtown area," he said. "All it takes is someone with creativity, coupled with this KOZ," he said of the assistance the designation will give his group as it tries to keep the downtown area and shops flourishing.

Apparently council agreed. "Hopefully it will be helpful," said George Pokrant, council vice president.

Council's action followed Grove City Area School Board's move last week to exempt the approximate 26 acres from property taxes for seven years. The property's northern boundary is Lincoln Avenue and its southern boundary is the railroad tracks.

"We need to import jobs and stop exporting jobs," Pokrant said.

Tax-exempt status may draw businesses and business expansions but will mean a loss of $48,000 a year in potential real estate taxes to the borough, school district and county. The school district would take the biggest hit -- about $33,000 a year. The borough would potentially lose about $2,500 annually and the county would lose about $12,000 a year.

The borough, school district and county have to sign off on creating a KOZ.

Mercer County Commissioner Ken Seamans said Monday night that commissioners would "probably" look favorably upon it. KOZ "has a specific purpose: to stimulate industry."

He said the process of commissioners acting upon it would take about a month. "It would go through the chief clerk's meeting and depending on how we feel about it, it would be made into a motion and put on the agenda of a meeting," Seamans said.