Harrisburg Market Keystone Innovation Zone (KIZ) Tax Credit Announcement
On: December 19, 2012 Filed Under: Chamber News
Harrisburg Market Keystone Innovation Zone (KIZ)
Tax Credit Announcement
HARRISBURG (December 19, 2012) – 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 six Cumberland 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 $566,494 was awarded to six companies in Cumberland county, which is an increase in comparison to a total of $532,621 in 2011 (a difference of $33,873). These companies are in the approved industry clusters including advanced manufacturing, life sciences, and business technology solutions.
Companies awarded are listed below.
- Cruzstar, LLC – Murata Business Center, Cumberland County ($74,744)
- Markant Corporation – Murata Business Center, Cumberland County ($91,750)
- Tex Visions, LLC – Murata Business Center, Cumberland County ($100,000)
- Vispronet, Inc. – Murata Business Center, Cumberland County ($100,000)
- WebpageFX, Inc. – Murata Business Center, Cumberland County ($100,000)
- Z-Band Video, Inc. – Murata Business Center, 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 Tech Corridor Enterprise Zone and the Harrisburg Market 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.