KOZ / KIZ - Science Center

The University City Keystone Innovation Zone is a consortium of Philadelphia Universities and Economic Development agencies seeking to create a pipeline of transparent resources for Life Science Start Ups. The University City Keystone Innovation Zone’s purpose is education, connection and collaboration.

There are designated University City Science Center’s facilities located in either (or both) a state-designated Keystone Opportunity Zone or Keystone Innovation Zone. These are each state programs which offer resident companies significant benefits.

KOZ

Keystone Opportunity Zones (KOZs) are defined, parcel-specific areas with greatly reduced or no tax burden for property owners, residents, and businesses. KOZs have been designated by local communities and approved by the state – representing a true partnership between each community and region among state and local taxing bodies, school districts, economic development agencies and community-based organizations.

KIZ

Keystone Innovation Zones (KIZs) are designated zones 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 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.

Under this program, start up companies (pre-revenue) that are located in these zones can apply to the state for tax credits that they can sell to other Pennsylvania companies to raise revenues. In addition, schools within KOZ/KIZ zones will receive state grants to help them transfer university research technology to companies based in these zones.

For more information, visit koz.newpa.com or www.uckiz.com or contact us.