Tech companies in Philadelphia might finally see some long-awaited light at the end of the tax tunnel.
Mayor Michael Nutter has announced tax breaks for technology, design and video game firms that would hopefully encourage more companies to set up shop in the city.
As the Metro reported this morning, under the new tax policy, tech sector businesses would not be taxed for services sold outside of Philadelphia, which could pave the way for tax overhauls for all city businesses. The news follows Nutter’s address to the Greater Philadelphia Chamber of Commerce last week outlining the need to experiment with the city’s tax structure.
Videogame Growth Initiative organizer Mike Worth, who’s helped lead a grass roots effort to lobby City Hall on tech tax issues, as we’ve reported, tells Metro that the incentives might help convince his game development studio Space Whale Studios to move downtown.-30-