Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > S&T Bank Purchases Pennsylvania’s First Keystone Innovation Zone (KIZ) Tax Credits

Abstract:
S&T Bank (NASDAQ:STBA), a full-service financial institution with branch locations in 10 Pennsylvania counties, has become a key regional partner in distributing tax credits through the Keystone Innovation Zone (KIZ) program, the first tax credits of their kind in Pennsylvania's history. KIZ, a statewide initiative, provides support and funding to young companies who are transitioning through the various stages of growth. S&T Bank has purchased $1.5 million in KIZ tax credits from businesses located in Blair County's I-99 Innovation Corridor KIZ in Altoona.

S&T Bank Purchases Pennsylvania’s First Keystone Innovation Zone (KIZ) Tax Credits

INDIANA, PA | Posted on February 5th, 2007

"These monies will provide much-needed growth capital to support the area's young, entrepreneurial businesses," noted Richard A Scholton, senior vice president of commercial lending at S&T Bank. "S&T Bank is pleased that we can serve as a community partner in this important endeavor."

Established by the Commonwealth of Pennsylvania in 2004, the Keystone Innovation Zone (KIZ) program designates zones across the state and aligns crucial resources - educational institutions, private businesses, business support organizations, commercial lending institutions, venture capital networks and foundations. KIZ focuses on how these partnerships can assist young companies with expertise in materials science, nanotechnology, biotechnology, life sciences and information technology. The ultimate goal of the program is to provide seed and growth capital to these firms, thereby encouraging them to remain in Pennsylvania. The I-99 Innovation Corridor KIZ combines the resources of Penn State University and 37 different firms. KIZ Resources, LLC, of Altoona, PA, serves as an agent for the companies from whom S&T Bank purchased the credits. KIZ Resources assists companies in obtaining and selling their credits.

"The KIZ program has the capacity to stimulate our economy by keeping young companies here in Pennsylvania, and that means more jobs in our communities," added Timothy P. McKee, senior financial officer of S&T Bank.

####

About S&T Bank
Headquartered in Indiana, PA, S&T Bancorp, Inc. operates 49 offices within Allegheny, Armstrong, Blair, Butler, Cambria, Clarion, Clearfield, Indiana, Jefferson and Westmoreland counties. With assets of $3.3 billion, S&T Bancorp, Inc. stock trades on the NASDAQ Global Select Market under the symbol STBA.

For more information, please click here

Contacts:
S&T Bank
Robert Jorgenson, 724-465-5448

Copyright © Business Wire 2007

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Investments/IPO's/Splits

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Aspen Aerogels to Present at the 28th Annual ROTH Conference March 14th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Arrowhead to Present at Upcoming March Conferences March 1st, 2016

Announcements

Spintronics for future information technologies: Spin currents in topological insulators controlled May 2nd, 2016

Nanoparticles present sustainable way to grow food crops May 1st, 2016

Clay nanotube-biopolymer composite scaffolds for tissue engineering May 1st, 2016

Cooling graphene-based film close to pilot-scale production April 30th, 2016

Human Interest/Art

Scientists propose non-animal tools for assessing the toxicity of nanomaterials: Particle and Fibre Toxicology publishes recommendations from expert group meeting April 26th, 2016

Are humans the new supercomputer?Today, people of all backgrounds can contribute to solving serious scientific problems by playing computer games. A Danish research group has extended the limits of quantum physics calculations and simultaneously blurred the boundaries between mac April 14th, 2016

UCLA nanoscientists engage shoppers in fun conversations March 8th, 2016

Risk Analysis Publishes Non-Animal Strategy to Assess Nanomaterials February 24th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic