Tax Credit Program
The Keystone Innovation Zone Tax Credit Program is a key component of the Keystone Innovation Zone (KIZ) Program. The KIZ Program creates designated geographic zones to foster innovation and create entrepreneurial opportunities by aligning the combined resources of educational institutions and the private sector.
For-profit business entities may be qualified KIZ Companies and eligible to participate in the KIZ Tax Credit Program as outlined below:
- located within the geographic boundaries of a particular KIZ
- in operation less than 8 years
- operating within one of the targeted industry segments (or sectors) identified by the KIZ partnership
- meeting other requirements as specified by the Department of Community & Economic Development (DCED)
KIZ Tax Credits can be used to offset certain state tax liabilities.
The KIZ Tax Credit Program significantly contributes to the ability of young KIZ companies to transition through the stages of growth. This innovative program also provides for a tradability component crucial to young companies that do not have a tax liability.
For more information, visit www.newpa.org.