3703 - Program. - Pennsylvania Statutes

§ 3703. Program. (a) Establishment.--There is established a program in the department to be known as the Keystone Innovation Zone Program. The program shall provide economic assistance to KIZ companies for the purpose of improving and encouraging research and development efforts and technology commercialization efforts resulting in employment growth and revitalization of communities. (b) Application.--A keystone innovation zone partnership may apply to the department to establish a keystone innovation zone. All applications must be received by July 1, 2007, be on the form required by the department and include and demonstrate all of the following: (1) The KIZ coordinator's name and address. (2) A statement that the applicant is a KIZ partnership and the identity of its members. (3) The geographic boundaries of the proposed keystone innovation zone. (4) A copy of a written strategic plan adopted by the KIZ partnership describing the targeted industry segments which the KIZ will foster. (5) Any other information required by the department. (c) Review and designation.--The department shall review the application. Upon being satisfied that all requirements have been met, the department may approve the application. If the department approves the application, the department shall designate the identified area as a keystone innovation zone and accept the organization designated as the KIZ coordinator for the zone.