Three Bethlehem Projects are Awarded Enterprise Zone Tax Credits Through the Neighborhood Assistance Program
Tuesday, December 5, 2023
FOR IMMEDIATE RELEASE
Three Bethlehem Projects are Awarded Enterprise Zone Tax Credits Through the Neighborhood Assistance Program
Bethlehem, PA – Three projects in the City of Bethlehem have received Enterprise Zone Tax Credits:
- National Magnetics Group, Inc. $43,822
- Roberts Oxygen Company, Inc. $103,050
- United States Cold Storage LLC $250,000
The City of Bethlehem’s Enterprise Zone helps to facilitate economic development and renovate blighted properties. There have been 21 Enterprise Zone Tax Credit awards granted over the past 9 years to projects in the City. Total tax credits awarded to these projects total at $5.5 million. This program has proven valuable to the City, development community, and businesses looking to expand or relocate to the City.
“The Enterprise Zone program has assisted in attracting significant private sector investment into projects in the City of Bethlehem” said Mayor J. William Reynolds. “We are excited to work closely with Governor Shapiro and the Pennsylvania Department of Community & Economic Development to maintain an attractive investment climate for businesses interested in locating and expanding. These projects are key to providing career opportunities for our residents.”
The Governor’s Press Release regarding the awards can be found here.
“Since day one, my Administration has made a commitment to strengthening our communities and making Pennsylvania a better place to live, work, and raise a family,” said Governor Josh Shapiro. “By encouraging businesses to make impactful investments in their local communities, the Neighborhood Assistance Program is driving investment to worthy causes and helping improve the lives of our fellow Pennsylvanians. This program is a great example of the impact we can have when we connect the dots between the private sector, public sector, and nonprofits – and my Administration will continue to support and grow these kinds of partnerships.”
U.S. Cold Storage LLC is investing $80M to expand their current facility by 7.8 million cubic feet. The expansion will consist of additional temperature-controlled storage space, 23,634 pallet positions, and automation that will enhance overall facility efficiencies. The company plans to hire 30 new employees and while retaining 180.
“USCS has been a business partner in the City of Bethlehem since 2004, and appreciate their continued support and collaboration” said Mitch Harper, General Manager. “The EZ tax credits are both meaningful and helpful as we continue to invest in the community and its people.”
National Magnetics Group, Inc. is investing over $700,000 to expand production capabilities for their advanced material product line. The company plans to purchase and install new equipment, upgrade their current power supply, create a new inspection room, retain the 15 employees dedicated for this new line of business, and create an additional 5 jobs as business permits.
“We are pleased that the Governor has recognized the benefit of helping small business stay competitive in this challenging economic environment” said Paul Oberbeck, CEO. “Our expansion will allow us to grow our business, hire more employees and meet the needs of our customers. These tax credits will help defray the cost of our investment.”
Roberts Oxygen Company, Inc. is investing $1.6M to improve the current 7,600 sq. ft. structure to improve their distribution of compressed gases and welding supplies to customers.
“This important business assistance program provided by the Enterprise Zone Tax credits will enable us to add to our capabilities to service our customers that include medical, beverage, industrial, commercial, manufacturing, institutional, and construction customers in the Bethlehem area” said Dave Garner, Philadelphia Regional Manager.
The next opportunity to apply will be Q1/Q2 2024 for expenses incurred between July 1st, 2024 and September, 30th 2025. Any property owner, developer, or company interested in learning more about the Enterprise Zone and other economic development programs are encouraged to contact the City of Bethlehem’s Dept. of Community and Economic Development.
Contact:
Asher Schiavone
Economic Development Coordinator
City of Bethlehem
Dept. of Community & Economic Development
10 East Church St.
Bethlehem, PA 18018
(610) 865-4347
ASchiavone@bethlehem-pa.gov