The move will enable Giffords and Kelly to accept campaign contributions and financially support like-minded candidates seeking public office.
"We are thrilled to officially launch Gabby PAC," Giffords and Kelly wrote in a statement. "Gabby PAC will only support candidates who are dedicated to working hard for commonsense, bipartisan solutions that strengthen our communities and our entire country. This commitment to public service over partisanship is what guided Gabby while she was serving the people of Arizona and will be the guiding principle of Gabby PAC."
Giffords, D-Ariz., resigned from the House of Representatives on Jan. 25, a little more than a year after she was shot in the head during a constituent event in Tucson, Arizona. She has kept a relatively low profile since leaving office, although she and Kelly met with Pope Benedict XVI last month at the Vatican.
Giffords was shot Jan. 8, 2011 by Jared Lee Loughner, who is likely to spend the rest of his life in prison after pleading guilty last month to 19 counts stemming from the shooting, including attempted assassination of a member of Congress.
The PAC will be co-chaired by two Democrats - former Kentucky Secretary of State Trey Grayson and economist Robert Reich, who was Secretary of Labor during the Clinton administration.
According to a statement, Gabby PAC will support candidates for public office who share the former congresswoman's vision of "a better future for America."
"These candidates are focused on offering responsible solutions to the problems facing our communities, including creating good paying jobs, strengthening our economy, supporting renewable sources of energy, caring for our returning veterans and their families and creating more opportunities for young people," the statement read. "Gabby PAC will support Democratic candidates who favor working in a bipartisan way to find solutions to our challenges instead of partisanship and discord."
Last month Giffords left a rehabilitation facility in Houston and moved back to Tucson, where she continues therapy.