KIZ tax credits awarded to 17 midstate tech companies
Seventeen businesses in Central Pennsylvania received part of $15 million in tax credits awarded to early-stage companies statewide through a tax-credit program.
The credits are available through the Keystone Innovation Zone Tax Credit program, whose budget was cut last summer to $15 million per year from $25 million. The program is operated by the Department of Community and Economic Development.
The program provides tax credits for companies in a KIZ that have been in operation for less than eight years, whose gross revenues have increased over the previous year and that operate within a targeted industry sector, such as information technology or advanced manufacturing.
The local KIZ awards were as follows:
- Global Perspectives Testing Center LLC, $82,585
- Global Perspectives Training Center LLC, $82,585
- New Era Orthopaedics LLC, $82,585
- Vispronet Inc., $82,585
- Red Privet LLC, $82,585
- Bridgesell LLC, $17,333
- Z-Band IP Systems Inc., $32,792
- Go Green IT Inc., $22,030
- Return Logic Inc., $13,393
- Ephyra Group LLC, $38,382
- inbound Marketing Inc., $41,399
- Crimewatch Inc., $14,903
- SMB Computer Solutions LLC, $82,585
- Mind Development & Design LLC, $46,628
- Abella, $82,585
- The Lancaster Food Co., $75,340
- ECKey Corp., $82,585
It's unclear how other business programs might be cut heading into another budget season. Wolf's next budget address is scheduled to take place Feb. 7.