FAQ

How do I become a KIZ Company?

There are no applications or membership fees to become a KIZ Company. You are a University City KIZ company if:

  • You are located within the geographical boundaries of the Keystone Innovation Zone
  • Your company is less than 8 years old
  • Your company develops life sciences technology

Why should I locate my company in the University City KIZ?

  • KIZ Tax Credits of up to $100,000 per year
  • Facilitated access to world class research institutions
  • Subsidized support from life sciences industry experts
  • Priority review at the Pennsylvania Department of Community & Economic Development for state financing, training and investment programs

In addition, University City KIZ has an incredible concentration of resources and infrastructure for supporting and growing life sciences companies in a culturally rich environment. Home to some of Pennsylvania’s most esteemed universities, many life-sciences start-ups, non-profit research institutes, and research and teaching hospitals; our community has the infrastructure and highly qualified workforce growing life sciences companies need.

In 2008, University City scientists received more than $22 million in new funding from the National Science Foundation while $582 million in grants from NIH were awarded to University City organizations.*

* 2009 UCD report card 

Why should I locate my non life sciences company to the University City KIZ?

University City and Center City, the two neighborhoods that make up the UC KIZ, have a large concentration of life sciences and industry experts requiring the services from a variety of businesses. Occupying the 4th largest retail market in the U.S., the University City Keystone Innovation Zone, offers the economical and cultural resources needed to make a business successful.

Does the UC KIZ award seed grants to start-ups?

The KIZ does not currently maintain a grant program. Funding is directed to the benefit of all KIZ companies through subsidizing the support of life sciences business experts, providing educational seminars, and connecting the region’s human and capital equipment resources.

How is the KIZ different from the KOZ (Keystone Opportunity Zone)?

The KOZs are specifically designated areas throughout the commonwealth of Pennsylvania which are virtually tax-free. Businesses that move into KOZs must either increase their employment by 20% within the first year or make capital investment in the KOZ property equivalent to 10% of the company’s prior year’s gross revenues. Your company can be located in a KOZ and KIZ at the same time.

The KIZ is more than a tax credit program. It is a partnership designed to foster innovation through a network of resources including educational institutions, private businesses, business support organizations, and venture capital networks. The UC KIZ will help to support entrepreneurial opportunities in the life sciences that lead to new companies and new jobs. Communities fostering this activity and innovation will benefit both economically and socially.

Why is Pennsylvania creating Keystone Innovation Zones?

Keystone Innovation Zones are an integral part of the Pennsylvania Department of Community and Economic Development’s mission to enable entrepreneurial growth and opportunity. An initiative of Governor Rendell, KIZs creates community networks that support the development of dynamic new companies. This is building a knowledge based economy that is helping shape Pennsylvania’s future. The Ben Franklin Technology Development Authority provides program oversight.