Keystone Innovation Zone Tax Credit Program (Pennsylvania)
Last modified on February 12, 2015.
|Applies to States or Provinces||Pennsylvania|
|Name||Keystone Innovation Zone Tax Credit Program (Pennsylvania)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive, Enterprise Zone|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
|Program Administrator||Pennsylvania Department of Community and Economic Development (DCED)|
The Keystone Innovation Zone Tax Credit Program provides tax credits to companies less than eight years old who operate within designated innovation zones. A total pool of $25 million in tax credits is available each year to businesses within these zones. A business can claim a tax credit up to 50% of the increase in gross revenues attributable to activities within innovation zones. The tax credit limit is $100,000 per business per year.
Keystone Innovation Zones (KIZs) are designated zones that may be established in communities that host institutions of higher education – colleges, universities, and associate degree technical schools. These zones are designed to foster innovation and create entrepreneurial opportunities. They do this by gathering and aligning the combined resources of educational institutions, private businesses, business support organizations, commercial lending institutions, venture capital networks (including angel investors), and foundations (KIZ partners) In other words, where a partnership of these organizations is formed, a KIZ is possible.
|Department||Department of Community and Economic Development|
|Address||Commonwealth Keystone Building, 400 North Street, 4th Floor, Harrisburg, PA, 17120-0225|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Keystone Innovation Zone Tax Program|