Bringing Opportunity
to Lackawanna County
Keystone Innovation Zones seek
to foster innovation in our area
For Jason Washo of Sho Technology Solutions, the Keystone Innovation Zone
(KIZ) program has allowed his business to grow into a leading provider of software
projects in our region.
“Our mission at Sho Technology Solutions is to create and deliver meaningful
software technology for our customers,” he said. “Software projects and jobs are
not only in high demand but are also high in cost. The KIZ program has helped
us tremendously by allowing investment into NEPA-based software development
talent. Having this creates a great economic ecosystem by steering our local
businesses in need of technology to look locally instead of outside the area.”
Keystone Innovation Zones are designed to foster innovation and create
entrepreneurial opportunities for small businesses by providing access to interns,
innovation grants, and transferrable tax credits.
The KIZ program truly
helps all businesses
in our region. The tax
credit encourages
businesses to grow...
— Sean McCormack
EcoIndustrial
TARGETED
INDUSTRY
SECTORS
•
Healthcare/Life Science
• Nanotechnology,
Advanced Manufacturing
and Plastics
• Information Technology/
New Media
• Back Offi ce/Finance
• Homeland Security
4 • The Greater Scranton Chamber of Commerce
The KIZ program has
helped us tremendously
by allowing investment
into NEPA-based
software development
talent. Having this
creates a great economic
ecosystem by steering
our local businesses in
need of technology to
look locally instead of
outside the area.
— Jason Washo
Sho Technology Solutions
Through the KIZ program, eligible companies may claim a tax credit equal to 50
percent of the increase in that company’s gross revenue from year one to year two.
In the event the company posts a revenue increase but doesn’t maintain the tax
liability, then the company may sell the credit to another Pennsylvania-based fi rm.
The purchasing company will then apply the credit. The tax credit shall not exceed
$100,000 annually and may be carried forward for up to four years.
“The KIZ program truly helps all businesses in our region,” said Sean McCormack
of EcoIndustrial. “The tax credit encourages businesses to grow, which helps our
region continue to thrive as more and more companies are realizing the advantages
of locating here.”
In our region, tecBridge coordinates the KIZ program for Lackawanna and Luzerne
County. For more information, please email [email protected] or call the Scranton
Plan at (570) 342-7711.