Businesses located within the Indiana County area may be eligible for two incentive programs that offer significant cost reductions at the time of investment. Businesses may also benefit from a favorable tax structure.
Keystone Innovation Zone (KIZ)
The Keystone Innovation Zone program is also a state-sponsored initiative that was designed to foster innovation and create entrepreneurial opportunities. The KIZ Program:
- Coordinates activities for institutions of higher education, local economic development agencies, and a variety of organizations interested in building a technology-oriented and knowledge-driven economy.
- Gathers and aligns the resources of educational institutions, private businesses, business support organizations, commercial lending institutions, venture capital networks and foundations (known as KIZ partners).
- Increases entrepreneurial activities around Indiana County (such as White, Center, and Burrell Townships, the Indiana University of Pennsylvania Campus, the Small Business Incubator, the downtown business district of Indiana Borough, and a number of ready-to-go business parks and multi-tenant buildings).
- Enhances industry sector growth.
- Works in concert with the other Keystone programs.
The Indiana County Office of Planning and Development administers the County’s Keystone Innovation Zone (KIZ) program on behalf of the Indiana County Commissioners. Contact us for more information.
Keystone Opportunity Zones (KOZ)
The Keystone Opportunity Zone is a state initiative designed to revive economically distressed communities using the market-based incentive of tax abatements. First established in 2000, the KOZ initiative fosters both private business and residential reinvestment in designated KOZ areas to restore the economic stability of those communities.
The KOZ program can significantly reduce the cost of doing business through exemptions, deductions, abatements, and credits of state and local taxes for a set duration of years.
KOZs reflect a true sense of partnership among state and local government, school districts, economic development agencies, and community-based organizations. The KOZ Program in Pennsylvania provides a once-in-a-lifetime opportunity to develop sites that have greatly reduced state and local taxes.
The following is a list of KOZ locations in Indiana County:
Please contact us for details about the KOZ benefits associated with these locations.