We are proud to announce that Precision Rated Optics has won the prestigious “Keystone Innovation Zone Tax Credit Program” award for 2013. The Pennsylvania Department of Community and Economic Development awards are presented based on a company’s growth in revenue from a baseline year to the following year. To be eligible for the award, companies must be: a for-profit company, less than eight years old and doing business within one or more of the target industry sectors, including: life sciences, information technology, advanced manufacturing, business services, defense, energy, agriculture and food processing.
“This is truly a great honor that we receive the KIZ Tax Credit. There are many innovative companies within the Commonwealth of PA and the tax credit will allow us to hire additional technical employees that will solidify our development of new optical test and measurement equipment,” commented Tom Depaolantonio, president of Precision Rated Optics. “The KIZ tax credit will enable us to innovate by means of continued research and development. We plan on using the additional cash flow generated by the tax credit to further our current patent processes and increase deployment of new optical products to the market.”