Keystone Innovation Zone
innovation. incubation. jobs.
In an effort to better frame your understanding of the KIZ initiative, please review below. We are happy to answer any questions that you have about this new, emerging, initiative within our region. If you have any questions, please call us at (717) 232-4099 and ask about the Harrisburg Market KIZ.
1. The Commonwealth’s stated goal of the KIZ program is to improve the economy and the attractiveness of Pennsylvania’s communities, thus keeping young people in Pennsylvania and accelerating economic growth.
2. The grant recipient for the Harrisburg Market KIZ is the Capital Region Economic Development Corporation (CREDC). CREDC will be KIZ Coordinator for the Harrisburg Market KIZ.
3. Our partnership includes the following colleges and universities: Penn State Milton S. Hershey Medical Center/College of Medicine, Dickinson College, Lebanon Valley College, Messiah College, Penn State Harrisburg, Harrisburg University, Central Pennsylvania College, Shippensburg University, and the Harrisburg Area Community College.
4. Our partnership includes the following technical assistance partners: Murata Business Center, HACC’s Entrepreneurial Development Center, Ben Franklin Technology Partners, Venture Investment Forum, LifeSciences Greenhouse of Central PA , Kutztown Small Business Development Center, Pennsylvania Department of Community & Economic Development, Penn Venture Partners, and the Technology Council of Central PA (TCCP).
5. Our partnership includes the following government partners: City of Harrisburg – Mayor’s Office of Economic Development, and Dauphin County ‘s Office of Economic Development.
6. The purpose of the initiative is to:
a. Commercialize research and development that is occurring at colleges and universities
b. Create career opportunities out of enhanced collaboration between our regional colleges and universities, as well as between the region’s education community and the region’s business community
c. Enhance the entrepreneurial vitality in the region by assisting new business starts
d. Retain young professionals by creating an environment where career opportunities are abundant, help is accessible and innovation is not only encouraged, but supported and rewarded
7. Our initiative is focused on three industry clusters:
a. Advanced manufacturing
b. Life sciences
c. Business technology solutions
8. Our college and university partners will play the vital role of contributing their unique/ competitive advantages into the mix, while also capitalizing on the opportunity to formally partner with other educational institutions and the region’s business community.
9. Benefits of Forming a KIZ
- 25 million per year in tax credits will be available for KIZ companies less than eight years of age in the industry clusters of the KIZ. The first round of tax credits were awarded in 2006.
- Provides “priority reviews” to companies located in a KIZ for DCED financing programs, Commonwealth training grant programs and the BFTDA’s investment program for early stage technology companies.
- $10 million over three years to Universities for innovation grants. Grants will be available over the next three years to create or enhance technology transfer programs at the universities for the benefit of entrepreneurs.
- Universities will also be eligible to apply for Starter-Kit grants, to facilitate the recruitment of talented faculty.
10. The project will include high-profile initiatives that capture the intent of the KIZ project, such as Innoventure, Experience Harrisburg, and College Venture Challenge.
Want more information on the Harrisburg Market KIZ? Please call or email Linda Goldstein, at (717) 213-5031 or email@example.com.