Record number of Chesco firms get boost

State grants Keystone Innovation Zone tax credits to 19 businesses

ImageA record 19 firms in Chester County have been awarded $1.45 million in state Keystone Innovation Zone (KIZ) tax credits – incentive given to companies with great growth and job-creation potential, said an announcement from State Sen. Andy Dinniman.

Pennsylvania’s Department of Community and Economic Development has awarded the KIZ credits to the following firms:

  • Airolution LLC, an information technology company in Malvern, will receive $100,000 in tax credits.
  • Alliance Pharma will receive $100,000 in tax credits. The Malvern firm was founded in 2007 and provides life-science research for its clients.
  • Brandywine Photonics LLC, an optical technology company based in Exton, will receive $44,742 in tax credits.
  • Dynamic Energy Solutions LLC, an energy company in Wayne, will receive $100,000 in tax credits.
  • Fibrocell Science Inc., a biotechnology company in Exton, will receive $76,592 in tax credits.
  • EvolveIP Holdings LLC, an information technology company in Wayne, will receive $33,064 in tax credits.
  • Fogmaker North America LLC, a materials technology company in Exton, will receive $100,000 in tax credits.
  • GreenPointeEnergy LLC, an energy company in Berwyn, will receive $98,240 in tax credits.
  • LifeSplice Pharma LLC, a bioscience company in Malvern, will receive $67,228 in tax credits.
  • Next Generation Reporting LLC in Wayne will receive $100,000 in tax credits.
  • OptimalOps Software, a software company in Exton, will receive $58,804 in tax credits.
  • Purispec LLC, a bioscience company in Exton will receive $4,653 in tax credits.
  • Quanta Technologies, an energy firm in Malvern, will receive $100,000 in KIZ tax credits.
  • SparkNET Technologies LLC, an information technology company in Wayne, will receive $100,000 in tax credits.
  • Thingworx Inc., an information technology company in Exton, will receive $100,000 in tax credits.
  • TransSig Inc., a bioscience company in Upper Uwchlan will receive $8,975 in tax credits.
  • Unifeyed LLC, an information technology company in West Chester, will receive $65,622 in tax credits.
  • Venatorx Pharmaceuticals Inc., a pharmaceutical research company in Malvern, will receive $100,000 in tax credits.
  • Y-Prime Inc. will receive $100,000 in tax credits. Y-Prime, of Malvern, started in 2006 and is a pharmaceutical consulting business.

“These young, start-up companies already offer highly skilled, good-paying jobs and are a vital part of Chester County’s economic success,” said Dinniman. “Just as importantly, some of today’s up-and-comers will become tomorrow’s industry leaders and provide county residents with vital economic opportunities in this increasingly competitive job market.”

“The Keystone Innovation Zone program helps ensure that promising, young companies with tremendous growth potential set their roots right here in Pennsylvania rather than someplace else. It’s good to see Chester County taking full advantage of this important economic development tool,” Dinniman said.

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Tags: Keystone Innovation Zone, Pennsylvania’s Department of Community and Economic Development, Sen. Andy Dinniman

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