I-99 KIZ Companies Benefit from over $720,000 in Tax Credits

by | Dec 16, 2020 | News

On Dec. 15, Gov. Tom Wolf announced that 224 emerging businesses in the Commonwealth were approved for just under $15 million in Keystone Innovation Zone (KIZ) tax credits. Five Blair County businesses and nine Centre County businesses were among those receiving tax credits for a combined total of $720,518.

“Keystone Innovation Zones provide a network of support and resources to early stage companies,” said Matt Fox, KIZ Coordinator for the I-99 Innovation Corridor KIZ. “The program provides much needed working capital for companies working toward commercializing innovative technology and that often face many challenges in getting their businesses off the ground.”

The I-99 KIZ Region is the Commonwealth’s largest geographic concentration of KIZ locations and consists of Blair, Centre and Bedford counties. Each county has numerous locations with varying amenities that qualify for KIZ Tax Benefits. Since the program’s inception in 2009 the I-99 Innovation Corridor KIZ has assisted 66 companies in being awarded in excess of $10.5 million in KIZ tax credits.

Pennsylvania’s KIZ Program benefits companies under 8 years of age that locate within established KIZ geographic areas. The benefits include tax credits that can be sold, university support and guidance. To learn more about the program and the I-99 Innovation Corridor KIZ contact Matt Fox at mattf@blairalliance.org

The following Blair County companies were approved for KIZ tax credits; AB Media Ventures, Apollo 18, LLC, DePiro Entertainment, Mid-State Solutions Group and Railroad City Brewing Company. The Centre County awardees are; Aleo BME, Atopix, Biomagnetic Solutions, ColumnTek, Impulse Technology, Nittany Laser, Persea Naturals, Phospholutions and Xact Metal.

For more information about the Keystone Innovation Zone program, visit www.dced.gov/keystone-innovation-zone-tax-credit-program.

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