Keystone Innovation Zone (KIZ) Overview
- The qualify for a KIZ tax credit your organization, at a minimum, must be:
- For-profit business entity;
- Located within the geographic boundary of an approved KIZ;
- In operation for less than eight (8) years;
- Working within specific targeted industry sectors;
- Innovative in nature (i.e. working to obtain patents, licensing agreements, trademarks, and/or copyrights on products or processes created).
- Tax credits must be applied against the tax liability of a KIZ company for the tax year in which credit was issued. Unused KIZ tax credits may be applied for these purposes for up to five years from the date issued or they may be reassigned/sold to another taxpayer. To begin receiving tax credits the business must first be operational within a KIZ for two years. KIZ tax credits can be up to $100,000 and are calculated as half the previous year’s increase in gross revenue.
Tri-County KIZ
Grantee:
North Central Pennsylvania Regional Planning & Development Commission
Counties in this Region:
Clearfield, Elk, Jefferson
Industries:
Advanced & Diversified Manufacturing, Energy/Biomass, Information Technology
Educational Institutions:
PSU DuBois, DuBois Business College, Jeff Tech
KIZ Quick Facts
| Keystone Innovation Zones | Inception to date | 2018 Calendar Year |
|---|---|---|
| Jobs created | 11,671 | 1,057 |
| Jobs retained | 31,000 | 2,957 |
| Businesses assisted | 7,120 | 56 |
| PA graduates hires | 3,555 | 273 |
| Patents filed | 2,957 | 138 |
| Patents awarded | 838 | 52 |
| Software copyrights filed | 292 | 75 |
| Software copyrights awarded | 127 | 29 |
| Licenses granted | 45,051 | 2,472 |
| Licensing revenue | $254,264,964 | $53,491,506 |
| RDT&E expenditures | $1,107,640,699 | $102,719,658 |
| Tax Credit Awarded (2006 & 2017) | $150,813,495 | $14,740,036 |
KIZ Links
Tri-County KIZ Coordinator
North Central
814.773.3162
49 Ridgmont Drive
Ridgway, PA 15853