The Pennsylvania Department of Community and Economic Development’s (DCED) annual report on the Keystone Innovation Zone (KIZ) tax credit program lists Apple as having acquired 32 approved tax credits worth US$2.33 million in 2012, reports “Philly.com” (http://tinyurl.com/akj8bk3).
The KIZ program is designed to support companies with ties to Pennsylvania colleges. Firms in operation for less than eight years and situated in one of the 29 zones statewide can apply for a tax credit of up to $100,000. Last year, the DCED approved a total of $13.73 million in tax credits to 179 companies across the state. Of those totals, 43 Philadelphia-area companies were awarded a total of $3.33 million in credits, says “Philly.com.”