Keystone Innovation Zone (KIZ) Benefits:

Transferable Tax Credits:

Tax credits are available to eligible companies located within a KIZ. A company may claim a tax credit equal to 50% of the increase in thatcompany' s gross revenue from year one to year two. In the event the company posts a revenue increase but doesn' t maintain the tax liability then the company may sell the credit to another Pennsylvania based firm. The purchasing company will then apply the credit. The tax credit shall not exceed $100,000 annually and may be carried forward for up to four years.

Preferential Consideration for DCED Programs:

KIZ eligible companies applying for DCED programs, including but not limited to PIDA, MELF Funding and Job Creation Tax Credits, will receive preferential consideration. In simple terms, a company' s application moves from the bottom of the pile to the top in an effort to expedite corporate growth within the KIZ.

Internships:

As the KIZ coordinator, Northeastern Pennsylvania Technology Institute can help you find an intern(s) and will provide the student a stipend up to $1,000.

Any interested and eligible companies should send the KIZ coordinator a job description of the internship position. NPTI will work with the thirteen local college and university career development offices to help you recruit your intern(s). A $1000 stipend is available to the student to offset a portion of the cost to hire an intern(s). The stipend is payable to the student in increments of $500 at 75 hours and $250 at 150 hours. Employer is asked to match the $250.

Innovation Grants to Partner with the Region’s Institutions of Higher Education

For more information Click here.