keystone innovation zone and keystone opportunity zone
business assistance programs
What are Keystone Innovation Zones?
Keystone Innovation Zones (KIZs) are designated zones established in communities that host institutions of higher education. These zones are designed to foster innovation and create entrepreneurial opportunities by forming partnerships with organizations available to assist the business community. The intent of the I-99 KIZ is to help create a "knowledge neighborhood" in which Penn State University, economic development groups, business, capital sources and community leaders connect with one another quickly and effectively to provide a network of support and resources.
I-99 Corridor Keystone Innovation Zone
The I-99 Corridor comprises Bedford, Blair and Centre counties. Numerous locations within the Corridor have been designated as Keystone Innovation Zones by the Department of Community and Economic Development. More information about the requirements for the KIZ Tax Credit Program and designated KIZ locations is available here, or email info@cbicc.org
What are Keystone Opportunity Zones?
Keystone Opportunity Zones (KOZs) are defined-parcel-specific areas with greatly reduced or no tax liability for property owners, residents and businesses for a specified period of time. KOZs, approved by the state, are partnerships between between communities/regions, state/local taxing bodies, school districts, economic development and community-based organizations.
Centre County Keystone Opportunity Zones
Benner Commerce Park -- Companies locating in Benner Commerce Park may be eligible for significant state and local tax benefits. Benefits derived from locating in the park will be available for a 10-year period from Jan. 1, 2013 through Dec. 31, 2022. To learn more about the credits, waivers and broad-based tax abatements available by locating in the KOZ email info@cbicc.org
Moshannon Valley Regional Business Park -- Located in Philipsburg, this Keystone Opportunity Zone allows businesses located there to be exempt from numerous state and local taxes through December 2017. Additional acreage, the former Philipsburg Area Hospital, is a designated Keystone Opportunity Expansion Zone. For additional information about KOZ eligibility, contact Stan LaFuria, Director, Moshannon Valley Economic Development Partnership, at 814 342-2260 or slafuria@mvedp.org.
Titan Energy Park -- Located in Bellefonte, Titan Energy Park is a designated Keystone Opportunity Expansion Zone through Dec. 31, 2023. The designation includes 160+ acres and buildings with more than 500,000 square feet of flexible, multi-purpose space. For additional information about Titan Energy Park, contact Joseph Leahey at 814 280-0145 or visit www.titanenergpark.com.
