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Recent years have witnessed increasing number of corporations pumping resources and efforts into schools across the country to help strengthen STEM education. Using inductive and deductive content analysis (Elo & Kyngas, 2008), the present study examined seventy-two K-12 STEM school-industry partnership cases, and constructed a taxonomy of K-12 STEM school-industry partnership programs and proposed a model for building K-12 STEM school-industry partnerships. The taxonomy provides a framework for understanding K-12 STEM school-industry partnership programs and for guiding K-12 STEM school-industry partners in their planning and evaluation of program scope, program focus, and partner roles. The model proposed in this paper is intended to help K-12 school-industry partners make optimal use of resources each partners in the partnership possesses.