Radnor-based Eigen X is one of 80 early-stage companies in the Philadelphia area that will receive a portion of the more than $5.4 million in state tax credits issued through the Keystone Innovation Zone program, writes Michelle Caffrey for the Philadelphia Business Journal.

Eigen X is among the 255 in Pennsylvania awarded the credits through the program. They are for tech-focused companies less than eight years old, based in one of the KIZs, and that have grown their gross revenue in the last year

The goal is to give companies a boost as they are starting out. They can receive up to $100,000 in tax credits to either offset their tax bill or sell them for cash to help grow their business.

“Every day, Pennsylvania’s tech sector is growing stronger,” said Gov. Tom Wolf. “Our role at the state level is to help foster that growth. By supporting our tech entrepreneurs, we’re creating jobs, enabling business growth, and making Pennsylvania a national and global leader in innovation.”

Read more about the tax credits program at Philadelphia Business Journal by clicking here.

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