The Navy Yard Keystone Innovation Zone (KIZ) promotes technology innovation and commercialization through the collaboration of world-class academic institutions, federal, state, and local government agencies, and private industry, to support growth of research and business activity focused on the following technology sectors: Power and Energy, Nanotechnology, Advanced Materials & Manufacturing, Communications and IT, Homeland Security, Life Sciences.
A unique partnership led by Penn State University, the U.S. Naval Surface Warfare Center (Carderock Division), Ben Franklin Technology Partners of Southeastern Pennsylvania, PIDC, Delaware Valley Industrial Resource Center, the City of Philadelphia, and several private industry partners, the Navy Yard KIZ offers the following benefits to companies:
- Financial Incentives: Technology firms in an applicable industry, eight years or less in age and located within the Navy Yard may benefit from a variety of financial incentives via the KIZ program.
- Up to $100,000 in tax credits per company, based on revenue growth
- Priority review of low-interest loan financing for capital construction projects and/or machinery and equipment upgrades, job training and investment programs.
- Access to World-Class Universities: The close proximity of the Navy Yard to the University of Pennsylvania, Pennsylvania State University, Drexel University, Temple University, Villanova University, Philadelphia University, as well as 90+ additional institutions of higher education in the surrounding counties, offers both a rich pool of research and engineering talent and resources, and a deep labor force.
- Access to PA Department of Community and Economic Development programs designed specifically for early-stage companies founded on technologically innovative products and services.
In order to be eligible for KIZ, a company must satisfy the following requirements:
- The firm is less than 8 years of age
- The firm focuses on one or more of the Navy Yard KIZ technologies
- The firm is located at the Navy Yard
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