SBKIZ companies receive tax credit awards totaling more than $611,000

12/17/09

BETHLEHEM – December 17– Lehigh Valley Economic Development Corporation is pleased to announce a total of 11 Southside Bethlehem Keystone Innovation Zone (SBKIZ) companies were awarded more than $611,000 in tax credits Tuesday by the Pennsylvania Department of Community and Economic Development. The award is significant for the companies and the Lehigh Valley’s economic future.

“This money contributes to the ability of young SBKIZ companies to transition through the stages of growth,” said SBKIZ Director of Project Development Steve Melnick. “The type of good-paying jobs they will create, and talent they will keep, or eventually bring to the region is extremely important to the future LVEDC envisions for the Lehigh Valley.”

The Keystone Innovation Zone was established to create designated geographic zones to foster innovation and create entrepreneurial opportunities by aligning the combined resources of educational institutions, private businesses, business support organizations, commercial lending institutions, venture capitalists and foundations.

A SBKIZ company may claim a tax credit equal to 50 percent of the increase of a company’s gross revenues in the immediately preceding taxable year that is attributable to its activities in the KIZ up to $100,000.

The following are the SBKIZ companies who received the grants:
 Company    Recipient  Amount
Atigen, LLC     Mr. Stefan Mass $53,651
Ciclon Semiconductor Corp.  Ms. Linda Dickens $100,000
Consarete Technologies, LLC Mr. Simardip Kalsi $74,743
EcoTech Consulting, Inc.  Mr. Patrick Clasen $100,000
EcoTech Marine, LLC   Mr. Patrick Clasen $100,000
Grid Sentinel, Inc.   Mr. Lee Wang  $36,551
Orion Security LSP, LLC  Mr. Brad Bartkowski $41,777
Saladax Biomedical, Inc.  Ms. Toni Klich  $100,000
Third Eye Diagnostics, Inc.  Mr. Anthony Bellezza $4,250
Thor Power Corporation  Mr. David Bonner $15,424
Viddler, Inc.    Ms. Donna DeMarco $38,264

SBKIZ Primary Partners include Ben Franklin Technology Partners of NEPA, Lehigh Valley Economic Development Corporation, Lehigh University, Northampton Community College, Manufacturers Resource Center, Lehigh University Small Business Development Center, Wachovia Bank, St. Luke’s Hospital and Health Network, Lehigh Valley Hospital and Health Network, Good Shepherd Rehabilitation Hospital, the City of Bethlehem, Lehigh Valley Workforce Investment Board, Team PA Foundation,and UGI.

For more information, please contact Stephen Althouse at 610.266.3817 or salthouse@lehighvalley.org.

Lehigh Valley Economic Development Corporation (LVEDC) is a one-stop, full-service business and economic development agency. Created to promote and foster economic prosperity in the Lehigh Valley, LVEDC assists businesses by providing them with regional, economic and demographic information, finance and business incentives, site and facility availability, business networking, and workforce services. By coordinating with state, county, and municipal governments, chambers of commerce, industry organizations, educational institutions and utilities, the award-winning LVEDC streamlines the relocation and expansion process for businesses. Visit LVEDC online at www.lehighvalley.org.