Financial Services
Growing a business takes more than a great idea — it takes capital. CAN BE Innovation Centers connects you with the financial resources and networks you need to fund your next move. From state tax credit programs to regional investor networks and competitive funding opportunities, we help you navigate the landscape and access the support that’s right for your stage of growth.
Financial Services Offered
Sellable KIZ tax credits up to $100,000
Access to funding stream organizations like NEPA Angel Investors
Partnerships with Wilkes-Barre PITCH, tecBRIDGE’s business plan competition and Ben Franklin Technology Partners
FAQs
Frequently Asked Questions
Keystone Innovation Zone (KIZ) Tax Credits is a Pennsylvania state program designed to support early-stage technology companies.
KIZ tax credits are used to offset certain tax liabilities and to accelerate the growth of KIZ companies who:
- In operation for less than eight years
- Located within the boundaries of a KIZ
- Creates unique proprietary technology
- Operate in one of the targeted industry sectors: Advanced Materials/Diversified Manufacturing, Energy, Life Sciences, Robotics and Technology
A KIZ company may claim a tax credit equal to 50 percent of the increase in its year-over-year gross revenues attributable to activities in the KIZ during the two immediately preceding tax years. A tax credit for a KIZ company shall not exceed $100,000 annually.
Please note that other factors may affect the total of tax credits awarded
Tax credits must first be applied against the company’s tax liability in the taxable year in which it’s being approved. Remaining tax credits may be carried forward up to four years, passed to an owner, or sold to an identified buyer.
A for-profit business entity that qualifies as a KIZ Company must file an application through DCED’s Electronic Single Application (ESA at grants.pa.gov) on or before December 1 of each year. DCED will issue tax credit awards by May 1.
Note: KIZ Companies must also be compliant with Program and PA Department of Revenue annual reporting requirements.
For more information about the KIZ Tax Credit Program, contact your KIZ Coordinator Locations, or visit our website: dced.pa.gov/kiz