TodayKIZ seeking to kick-start businesses with students
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Article RatingKIZs could become kisses of hope to put colleges and universities into the mainstream of economic development and keep graduates from looking for greener pastures.
They make area institutions of higher learning part of a new statewide economic development initiative announced this month in Hershey.
The Harrisburg area Keystone Innovation Zone (KIZ) will include Dickinson College, Shippensburg University, Messiah College, Hershey Medical Center, Penn State Harrisburg, Central Pennsylvania College, Harrisburg University, and Harrisburg Area Community College.
The initiative plans to establish partnerships between higher education, business and the community to promote business by using a $250,000 grant awarded for Cumberland, Dauphin and Perry counties.
"The purpose of KIZ is for colleges and universities to collaborate with their surrounding communities to encourage business opportunity," says Douglas Wendt, executive director of the Cumberland County Office of Economic Development.
Wendt adds the purpose of KIZ is to use technology developed at educational institutions to establish commercial products and business ventures.
Cultivating the young
Businesses in the KIZ will provide internships and career opportunities to retain graduates in Central Pennsylvania in three specific areas: advanced manufacturing, life sciences and business technology solutions.
"The goal is to commercialize all the research that is taking place in the communities," says Linda Goldstein of the Capital Region Economic Development Corporation (CREDC).
"It's really about partnership. Small businesses can receive financing, tax credits, access to research and talent from within the schools. Schools receive opportunities for internships, mentoring for their students, and career opportunities."
In addition, small businesses may have access to technology, research and lab space available through partnering colleges and universities.
The Carlisle KIZ will utilize Murata Business Center, a small business incubator, as well as the Business Center in the old Woolworth building downtown to promote business within the community.
We have a facility here that offers start-up businesses the opportunity to come and get support and assistance to create jobs," says Murata Business Center Director Marsha Davis. "It would make sense that the KIZ would incorporate Murata as a partner."
Crediting incentive
Through the KIZ, Business Central in downtown Carlisle, will offer tax credit incentives to businesses that locate there beginning in 2006.
"I think that (the KIZ) is a very positive development from a community and economic development standpoint," says Chris Gulotta, executive director of Redevelopment Authority of Cumberland County. "This KIZ is very important in bringing the best of what higher education has to offer and melding that with business opportunities."
The grant, designed to be implemented over the next five years, will begin working with area colleges and universities in January though CREDC and has already started promoting the KIZ students.
"We want college students to know there are areas here to live, work and play after they graduate," says Linda Goldstein of CREDC.
The hope is that students will work with KIZ companies, helping to develop new business ventures, she says.
Businesses also will become involved on a less defined time schedule, Goldstein says.
"We can't say what is going to happen in the (immediate future). But when we identify KIZ companies, they will have access to management teams, financial teams, mentoring and the brightest minds in the state."
