Reading Prepares for Revitalization Funding as CRIZ Tax Baseline is Set

The City of Reading has taken a crucial step toward economic revitalization with the Pennsylvania Department of Revenue officially establishing the tax baseline for its City Revitalization and Improvement Zone (CRIZ). The baseline has been set at $3,550,874.75, representing the total state tax revenue generated within the designated CRIZ area in 2024. This figure will now serve as the benchmark for future funding. Starting in 2026, any growth in state tax revenue generated by businesses and construction within the 130-acre zone will be returned to Reading’s CRIZ authority to support local redevelopment projects. The CRIZ program, which has provided nearly $102 million to other participating cities like Bethlehem and Lancaster since 2013, was reopened by Governor Shapiro to allow cities like Reading and Erie to join, setting the stage for significant investment, job creation and downtown revitalization.