Sixteen companies with operations in midstate Keystone Innovation Zones are among 179 statewide receiving tax credits under the program, according to a Department of Community and Economic Development announcement.
The KIZ program is designed to support early stage companies in high-tech sectors, helping them to grow and create high-paying jobs. DCED announced its KIZ tax credit awards for 2012, totaling nearly $13.7 million, on Tuesday.
The companies with midstate operations receiving credits are as follows, according to the agency’s full statewide list:
Cumberland County KIZs
• Cruzstar, $74,744
• Markant Corp., $91,750
• Tex Visions, $100,000
• Webpage FX Inc., $100,000
• Z-Band Video Inc., $100,000
Lancaster County KIZs
• Gibraltar Technologies Inc., $100,000
• Innes Farm Inc., dba Mission Research, $100,000
• Mind Development & Design, $24,072
• Nxtbook Media, $75,276
• Quanta Technologies Inc., $100,000
York County KIZs
• Alcoil, $100,000
• Aptagen, $75,321
• Coupling Corp. of America, $100,000
• Dataforma Inc., $100,000
• Vispronet Inc., $100,000
• York Laboratories, dba MRG Labs, $80,835
Since 2006, 975 KIZ tax credit applications totaling nearly $62 million have been approved, DCED said.
Eligible companies must have operations within a designated Keystone Innovation Zone, be less than 8 years old and do business in a targeted economic sector, such as biotechnology, information technology or advanced manufacturing. Companies may sell unused credits if they do not owe Pennsylvania taxes.