2015 Harrisburg Market Keystone Innovation Zone (KIZ) Tax Credits Substantially Increase

Posted On On: March 1, 2016 Categories Filed Under: Chamber News, Member News

HARRISBURG (March 1, 2016) – 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 nine Cumberland County companies  and four  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 $1,132,327 was awarded to thirteen companies in Cumberland and Dauphin counties. Linda A. Goldstein, Vice-President and COO of CREDC, stated that there was a significant increase in the tax credit awards from 2014 when there were $691,642 in credits awarded. Goldstein said that the number of companies grew as well as the size of each award. “There has been a definite uptick in entrepreneurship in the region in the last year which adds to economic vitality.”

 

Companies awarded are listed below.

  • 717 Studios, LLC – TechCelerator @ Carlisle by CREDC, Cumberland County ($99,771)
  • Better Bowls, LLC – Hershey Center for Applied Research, Dauphin County ($82,799)
  • CrimeWatch Technologies, Inc. – TechCelerator @ Carlisle by CREDC, Cumberland County ($3,167)
  • Cruzstar, LLC  – TechCelerator @ Carlisle by CREDC, Cumberland County ($97,669)
  • Global Perspectives Testing Center, LLC – TechCelerator @ Carlisle by CREDC, Cumberland County ($100,000)
  • Global Perspectives Training Center, LLC – TechCelerator @ Carlisle by CREDC, Cumberland County ($100,000)
  • Inbound Marketing, Inc. – TechCelerator @ Carlisle by CREDC, Cumberland County ($100,000)
  • New Era Orthopedics, LLC – Hershey Center for Applied Research, Dauphin County ($100,000)
  • SMB Computer Solutions, LLC – Train Station, Dauphin County ($100,000)
  • The APAK Group, Inc. – Hershey Center for Applied Research, Dauphin County ($100,000)
  • Vispronet, Inc. – TechCelerator @ Carlisle by CREDC, Cumberland County ($100,000)
  • Z-Band IP Systems, Inc. – TechCelerator @ Carlisle by CREDC, Cumberland County ($78,767)
  • Z-Band Video, Inc. – TechCelerator @ Carlisle by CREDC, Cumberland County ($70,154)

 

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

 

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.

 

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