Lancaster City Alliance is the agency designated by the Pennsylvania Department of Community & Economic Development to coordinate the Keystone Innovation Zone (KIZ) Program in the city of Lancaster, providing tax credits of up to $100,000 annually for qualified innovative businesses in a defined geographic area of the City.
The KIZ Program, established by Act 12 (SB 778) of 2004, creates designated geographic zones to foster innovation and create entrepreneurial opportunities by aligning the combined resources of educational institutions and the private sector. With a total pool of up to $15 million in tax credits available to KIZ companies annually, the KIZ Tax Credit Program significantly contributes to the ability of young KIZ companies to transition through the stages of growth. KIZ Tax Credits can be used to offset certain state tax liabilities. This innovative program also contains a tradability component crucial to young companies that have little or no tax liability.
To be eligible to participate in the KIZ Tax Credit Program, the applicant must meet the following criteria:
For Additional Information, Please Visit: