Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button


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

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

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.

Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press


Harris & Harris Group Announces Receipt of Milestone Payment From Acquisition of Molecular Imprints by Canon October 5th, 2015

Accelerator Corporation Completes $62.8 Million Oversubscribed Financing September 30th, 2015

Nanometrics to Participate in the Citi 2015 Global Technology Conference August 26th, 2015

Nanostart AG: First-half figures 2015 published and new supervisory board elected : Publication of first-half figures 2015 - Shareholders' meeting elected new supervisory board August 22nd, 2015


Observing the unobservable: Researchers measure electron orbitals of molecules in 3-D October 6th, 2015

Superconductivity trained to promote magnetization: Russian scientist and her colleagues discovered the superconductivity effect, which will help to create future supercomputers October 6th, 2015

Nanoscale photodetector shows promise to improve the capacity of photonic circuits: Researchers at the University of Rochester have fabricated a device in which light can induce a current using a silver nanowire -- an important step toward harnessing light to speed up the next ge October 6th, 2015

Big range of behaviors for tiny graphene pores: Like biological channels, graphene pores are selective for certain types of ions October 6th, 2015

Human Interest/Art

Bionic liver micro-organs explain off-target toxicity of acetaminophen (Tylenol): Israeli-German partnership aims to replace animal experiments with advanced liver-on-chip devices August 17th, 2015

Omni Nano and Time Warner Cable Partner to Provide Nanotechnology Education to the Boys & Girls Clubs of Los Angeles: A $10,000 Donation to Benefit Youth of Los Angeles County's Boys & Girls Clubs August 4th, 2015

Kalam: versatility personified August 1st, 2015

Pakistani Students Who Survived Terror Attack to Attend Weeklong “NanoDiscovery Institute” at SUNY Poly CNSE in Albany July 29th, 2015

The latest news from around the world, FREE

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

Nanotechnology Now Featured Books


The Hunger Project

Car Brands
Buy website traffic