Today, Governor Tom Wolf announced the approval of $14 million in Keystone Innovation Zone (KIZ) tax credits for 197 early-stage technology companies across Pennsylvania.

“It’s vital to support our tech entrepreneurs here at home and foster their growth,” Gov. Wolf said. “These tax credits help reduce the burden on companies as they are just starting out. In turn, these businesses and entrepreneurs will push Pennsylvania’s thriving tech sector forward.”

The KIZ program supports and encourages entrepreneurship in and around Pennsylvania’s colleges and universities. The program provides young Pennsylvania companies with vital working capital to meet critical needs.

An example of a company that has benefitted from the KIZ program is Wazoodle Fabrics, a fabric maker in Bensalem, Bucks County. The KIZ program enabled the company to develop a special reusable fabric during the pandemic for making surgical/isolation gowns for hospitals and nursing homes.