Keystone Innovation Zones for Pennsylvania
Pennsylvania has created two new Keystone Innovation Zones (KIZs) with $250,000 in first-year funding for each, as well as $187,500 in second-year funding for the University City KIZ.
They are intended to bring new business and jobs to the Greater Philadelphia Region, especially in the life sciences and technology industries. Each KIZ is administered by a partnership that includes the schools. The state provides the partnerships with funding, which they must match, and tax credits to companies in the zones.
There are 18 KIZs in Pennsylvania, including four in the Philadelphia area – the 611 Corridor, Delaware County, University City and the Naval Yard. The 611 Corridor KIZ will stimulate growth in the life sciences industry. The Delaware County KIZ includes the campuses of Villanova University, Widener University, and Crozer-Keystone Medical Center. It will focus on technologies that can be used in homeland security and defense efforts.
