What is a Keystone Innovation Zone?

A Keystone Innovation Zone (KIZ) is a designated zone that may be established in communities that host institutions of higher education – colleges, universities, junior colleges and technical schools. These zones are designed to foster innovation and create entrepreneurial opportunities. They do this by gathering and aligning the combined resources of educational institutions, private businesses, business support organizations, commercial lending institutions, venture capital networks (including angel investors) and foundations.
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What are the benefits of building my facility in a KIZ?

Incubator, multi-tenant facility, research & development, workforce education and design center projects are eligible for special priority financing from PIDA, up to 75% of the project cost (traditionally only up to 40%), at a low interest rate.
KIZ companies and developers are also able to take advantage of the State’s land acquisition and site preparation programs such as the proposed Business in Our Sites program, to ensure space needs are met.
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Are tax credits available?

Yes. Targeted training and education on opportunities provided by the Research and Development Tax Credit are available. Companies without a tax liability will have the ability to sell their tax credits.
The Keystone Innovation Zone Tax Credit began being offered with the 2006 tax year, making $25 million per year in tax credits available for KIZ companies that are less than eight years old.
Businesses can also sell their tax credits if they prefer.
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What are the Delaware County KIZ boundaries?

The Delaware County Keystone Innovation Zone is a series of distinct geographic locations comprised of the municipal boundaries of Chester, Marcus Hook, Trainer and Upland. Further, there are seven Nodes which are site specific and includes buildings at UTP1, UTP2, The Wharf at Rivertown, The Silk Mills, Crozer-Keystone Medical Center, Widener University and Villanova University. Currently these nodes are the specific locations where eligible KIZ companies must be located in order to receive benefits of the KIZ program.
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Do KIZ companies have priority for state-supported assistance?

Yes. The Commonwealth ensures that state-supported companies and economic development organizations such as Small Business Development Centers, Ben Franklin Technology Partners and the Life Sciences Greenhouse are active partners and prioritize their programs and enterprise support services to aid in the success of KIZ companies.
Also, KIZ companies have priority consideration for investments from state-funded seed capital or early stage funds. These include the Health Venture Investment Account (Tobacco Settlement), the Ben Franklin Technology Development Authority and other proposed venture capital programs.
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Is special funding for equipment available for companies located in a KIZ?

Yes. The Commonwealth may provide funding for eligible equipment to be used in design centers and workforce and education training programs.
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How does a developer benefit from working with a KIZ company?

Developers working with KIZs will receive priority review of applications for financing from the proposed Real Estate and Acquisition Development Fund.
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How does being in a KIZ help me train qualified employees?

The Commonwealth assists in funding curricula development and related equipment to train workers needed for the new technology being developed and applied by KIZ companies or design centers.
Also, KIZ companies will have preferential status for Customized Job Training funds, online training offered through the Guaranteed Free Training program, or other forms of workforce development and assistance.
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Does the KIZ foster internship programs?

Yes. The Commonwealth will provide seed funding to launch the coordination of internship programs in KIZs. Any efforts must be in coordination with existing programs at the educational institution, private industry or the community.
Innovator Internships
Students at Widener and Villanova are available to assist host Delco KIZ companies in the discovery of new technology or the development of new business capabilities.
Companies desiring an intern are required to provide a statement of work that outlines a specific problem to be addressed, as well as desired outcomes. The intent is the development of non-existent capacity at the host company, rather than the intern simply “learning the ropes.” Interns are required to generate specific deliverables and present their project work during a poster session at the annual Horizons event.
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Who are the primary partners in the Delaware County KIZ?

The Operating Partners include:

* Ben Franklin Technology Partners of Southeastern PA * Chester Economic Development Authority * Crozer Keystone Health System * Delaware County Commerce Center * Delaware Valley Industrial Resource Center * University Technology Park * Villanova University * Widener University
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What makes KIZ unique?

* Encourages and rewards creativity and entrepreneurialism * Provides access to our institutional partners, their faculty and students * Utilizes all key partners and their core services and capabilities * Focuses on our area’s strength in manufacturing and industry * Helps to build our local community and economy – job creation and retention, new company startups and business growth are just a few examples.
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What does the KIZ Coordinator do?

The KIZ coordinator is an organization chosen by a Keystone Innovation Zone Partnership and agreed to by DCED to administer the activities of the KIZ, providing office, staff support and employment of a head coordinator.
For more information regarding the Delaware County Keystone Innovation Zone, please contact E. Jean Krack, KIZ Coordinator at University Technology Park by calling 610.499.7534.
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