Keystone Innovation Zone
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
- 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, the Philadelphia Industrial Development Corporation (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 for low-interest loan financing for capital construction projects and/or machinery and equipment upgrades, job training and investment programs.
- Access to Ben Franklin's Technology Commercialization Service Network, designed to match companies with area research institutions to facilitate their address of near-term technical challenges. The TCN Service Network provides consulting and use of laboratory facilities for analysis, experimentation, and prototyping.
- Workforce Development and Training Resources: The Philadelphia Workforce Development Corporation and the Collegiate Consortium for Workforce and Economic Development provide training and direct technical assistance to companies. Business may also be eligible for funding for on-the-job training 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, in addition to 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.
A KIZ 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