2014 Harrisburg Market Keystone Innovation Zone (KIZ) Tax Credit Announcement
HARRISBURG (January 16, 2015) – The Harrisburg Regional Chamber & the Capital Region Economic Development Corporation (Chamber & CREDC) received confirmation from the Pennsylvania Department of Community and Economic Development (DCED) that five Cumberland County companies and three Dauphin County companies were selected to receive Keystone Innovation Zone (KIZ) tax credits. The Chamber & CREDC are the administrators and coordinators of the Harrisburg Market KIZ.
KIZ tax credits are used to offset certain state tax liabilities and significantly contribute to the ability of young emerging growth companies to transition throughout the stages of growth. A total of $691,643 was awarded to eight companies in Cumberland and Dauphin counties. These companies are in the approved industry clusters including life sciences, and business technology solutions.
Companies awarded are listed below.
- CrimeWatch Technologies, Inc. – TechCelerator @ Carlisle by CREDC, Cumberland County ($19,793)
- Cruzstar, LLC – TechCelerator @ Carlisle by CREDC, Cumberland County ($71,850)
- Markant Corporation – TechCelerator @ Carlisle by CREDC, Cumberland County ($100,000)
- New Era Orthopedics, LLC – Hershey Center for Applied Research, Dauphin County ($100,000)
- Red Privet, LLC – Train Station, Dauphin County ($100,000)
- The APAK Group, Inc. – Hershey Center for Applied Research, Dauphin County ($100,000)
- WebpageFX, Inc. – 1705 N. Front Street, Harrisburg, Dauphin County ($100,000)
- Z-Band Video, Inc. – TechCelerator @ Carlisle by CREDC, Cumberland County ($100,000)
Companies are eligible for KIZ tax credits if they:
- Have been in operation for less than eight years
- Are located within the boundaries of a DCED approved KIZ
- Operate within one or more of the targeted industry sectors of a particular KIZ and have worked with the KIZ coordinator
Linda Goldstein, Vice President & COO of CREDC stated, “The application of tax credits enables an emerging growth company to expand their employee base, as well as, their production and marketing efforts.”
The Chamber & CREDC not only administer the Harrisburg Market KIZ but also the Technology Corridor Enterprise Zone and the South Central Keystone Opportunity Zone (KOZ).
The Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties by providing a unique blend of business, community and economic development and advocacy services under one roof to boost our economic vitality and livability as a region. The Chamber & CREDC has been accredited with five stars from the United States Chamber of Commerce.