RIDC catalyzes and supports economic growth through high quality job creation, real estate development and financing of projects that advance the public interest – developing real estate to capture emerging and existing growth opportunities across diverse industry sectors.
Keystone Innovation Zone
RIDC is the administrator for the Greater Oakland Keystone Innovation Zone, part of a Pennsylvania Department of Community and Economic Development tax credit program for companies less than eight years old operating within specific targeted industries within the boundaries of a Keystone Innovation Zone (KIZ). 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.
A KIZ company may claim a tax credit equal to 50% of the increase in that KIZ Company’s gross revenues in the immediately preceding taxable year attributable to activities in the KIZ, over the KIZ Company’s gross revenues in the second preceding taxable year attributable to its activities in the KIZ. The KIZ Tax Credit is limited to $100,000 annually per KIZ company.
Read more about the KIZ program at Keystone Innovation Zones (KIZ) Coordinator Locations (pa.gov) or GOKIZ | Home (pitt.edu) or contact Ellie Ezzell Zytka at RIDC for information on how to apply.
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