Discovery of γ-Ray Emission from the Radio-intermediate Quasar III Zw 2: Violent Jet Activity with Intraday γ-Ray Variability

III Zw 2 is the prototype of radio-intermediate quasars. Although there is the evidence of possessing strong jet, significant γ-ray emission has not been reported before. In this work, we carry out a detailed analysis of the latest Fermi-LAT Pass 8 data. No significant γ-ray signal has been detected in the time-averaged 7-year Fermi-LAT data of III Zw 2; however, we have identified two distinct γ-ray flares with isotropic luminosities of ∼10⁴⁵ erg s^-1. Multiwavelength data analysis (also including the optical photometric observations from Yunnan Observatories) are presented and the main finding is simultaneous optical and γ-ray flares of III Zw 2 appearing in 2009 November. Violent γ-ray variability with a doubling timescale of 2.5 hr was detected in another γ-ray flare in May 2010, for which the 3-hr γ-ray peak flux is ∼250 times of the average flux in 7 years. Rather similar behaviors are observed in blazars and the blazar model can reasonably reproduce the spectral energy distribution of III Zw 2 in a wide energy range, strongly suggesting that its central engine resembles that of blazars. In view of its core, which shares radio similarities with young radio sources, together with weak extended radio lobe emission, we suggest that III Zw 2 harbors a recurrent activity core and thus serves as a valuable target for investigating the fueling and triggering of the activity in radio-loud active galactic nuclei.