The Harrisburg Regional Chamber & CREDC, in partnership with the Pennsylvania Department of Community and Economic Development (DCED), announces that four companies have been awarded Keystone Innovation Zone (KIZ) tax credits in the 2019 application period. CREDC coordinates the Harrisburg Market KIZ and facilitates eligible KIZ companies’ access to this valuable program. A total of $307,835 was distributed to four companies in Cumberland and Dauphin counties.
To be eligible for KIZ tax credits, a company must:
- Be located in the Boundaries of a DCED approved KIZ;
- Be in operation for less than eight years;
- And operate within key industry clusters such as advanced manufacturing, bio-technology, and other technology-oriented businesses with newly developed intellectual property.
KIZ tax credits can be used to offset certain state tax liabilities or sold for cash through exchanges, which significantly contributes to the ability of young emerging growth companies to transition throughout the stages of business and fund development and operations within some of the most challenging years.
“KIZ tax credits can help foster young technology companies and transition them as their businesses grow,” said David Black, President and CEO of the Chamber & CREDC. “These tax credits reward entrepreneurial thinking and help foster the growth and advancement of important technology industries in Central Pennsylvania.”
The companies awarded are:
- Crimewatch Technologies, LLC – TechCelerator@Carlisle by CREDC, Cumberland County ($56,365)
- Return Logic, Inc. – TechCelerator@Carlisle by CREDC, Cumberland County ($51,470)
- Inbound Marketing, Inc. – Train Station, Dauphin County ($100,000)
- SMB Computer Solutions – Train Station, Dauphin County ($100,000)
Certified by Pennsylvania’s Department of Community and Economic Development, CREDC is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry Counties. CREDC is the region’s certified lender for Pennsylvania’s programs including the PIDA program and a local packager for the SBA 504 program. The group offers a variety of programs and resources to help attract, retain and expand business in the region. For more information on business lending programs, please email firstname.lastname@example.org or contact Jon Cherry at 717-213-5036.
ABOUT HARRISBURG REGIONAL CHAMBER & CREDC
Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties through bold leadership, visionary members and powerful results. The organization provides a unique blend of business, community/economic development and advocacy services under one roof to boost the economic vitality and livability across our region. The Chamber & CREDC has been accredited with five stars from the United States Chamber of Commerce—a distinction achieved by less than 2 percent of chambers across the nation.