The Neighborhood Improvement Zone (NIZ) is a special district created by state law in 2011 that is driving development in Allentown, the third largest city in Pennsylvania and one of the fastest growing in the country. It is an innovative, collaborative, energized environment in a walkable, sustainable, vibrant urban community.
The NIZ is comprised of approximately 128 acres in center city Allentown and along the western side of the Lehigh River where certain state and local tax revenues generated by new and existing businesses within the NIZ can be used to pay debt service on bonds and loans issued for qualifying capital improvements.
More than half a billion dollars in real estate development has been completed utilizing this unique tax incentive and financing tool to fund the development of an arena, office buildings, shops, restaurants, a hotel and apartments.