At the Forefront of Innovation
Within the 30-block central business district of Southside Bethlehem, you'll find a variety of business opportunities. Thanks to many resources made available through the Keystone Innovation Zone, pioneering entrepreneurs can develop their business plans into profitable ventures. Southside Bethlehem offers a myriad of services and financial incentives that will keep your company at the forefront of innovation.
Building or locating to the KIZ offers a number of benefits including:
• State-supported assistance through a number of assistance programs under the auspices of the Department of Community & Economic Development.
• Possible funding for eligible equipment for use in design centers, workforce, and education training programs.
• A KIZ Tax Credit is available to companies located within the KIZ boundaries. These are revenue based credits that are available to any qualified company engaged in business within the KIZ. $25 million is allocated for this program statewide. Total credits received in zone since inception equal $2,146,609.22
• A Research and Development Tax Credit is available to businesses located within the KIZ boundaries. This credit is especially valuable to start-up companies which are engaged in Research & Development to bring their product or process to market. The R&D tax credits that are not used by a business can be sold, creating a revenue source for a growing company.
• Grant money for funding innovative research projects or parts which have a demonstrated promise for technology transfer into the marketplace through the Technology Transfer Grant Program.
• The KIZ internship grant program provides funding to technology businesses located within the KIZ to hire an intern. Interns get a quality experience focusing on economic development while businesses benefit by providing on the job training for upcoming workforce.
These programs are available only to companies located within the KIZ. To learn more about how Southside Bethlehem’s KIZ can help your company thrive contact Steve Melnick, KIZ director at 610.266.7535 or smelnick@lehighvalley.org.