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Statewide Strength, Regional Focus, Global Impact
Gerald A. EphaultRegional Manager
www.benfranklin.org
Created in 1983, we link Pennsylvania entrepreneurs and companies with funding, people, technology, universities and other resources to help them prosper -- and in the process, fuel economic growth for the Commonwealth.
Mission: To help transform and grow the Pennsylvania economy through investments in technology, innovation and strategic partnerships that foster a favorable business environment for high-growth companies.
Investments
Develop early-stage, technology-oriented companies Help established companies creatively apply new technology and business practices to achieve industry leadership Promote innovative community wide initiatives that foster a favorable business environment for high-growth companies
Northeastern PA
Southeastern PA
Central Northern PA
Innovation Works
Investments1983-2007
State Funds: $150,588,863
Private Sector: $389,423,083
Other Match: $102,336,340
Total Investment: $642,348,286
CNBC State Competitiveness Rankings
Access to Capital 6
Education 6
Technology & Innovation9
Quality of Life 12
Transportation 16
BFTP Statewide Results
“The Ben Franklin Partners program statewide boosted Pennsylvania’s economy by $8 Billion in the 12 year period between 1989 and 2001.”
Source: Nexus Associates
BFTP STATEWIDE RESULTS
BF Generated 93,105 job-years at a cost to the Commonwealth of $3,342 per job year.
Every public dollar invested in BF yielded nearly $23 of additional state income.
The State garnered more than $400 million in additional tax revenue as a direct result of the program.
Source: Nexus Associates
Ben Franklin Statewide Impact2004-2006
$1.1 billion in follow-on funding
9,410 jobs created or retained
758 companies received investments
2,483 companies received business/technical assistance
751 new or improved products/processes
RESULTS OF BF INVESTMENTS Northeast Pennsylvania Technology
Center
Companies started
Products/Processes
Jobs Created
Jobs Retained
377
769
13,043
20,253
Ben Franklin Northeast Pennsylvania
10 incubator network including Tech Ventures6 Keystone Innovation Zones5 SBDC3 Appalachian Regional Local Development Districts100+ Professional Advisors: Solution Network50+Technical Advisors: Review Panels9 County, $15MM Workforce Innovation in Rural Economic Development-Wall Street West Boeing Technology Alliance
FLC and Northeastern Pennsylvania
ACTION- Full day Symposium, March 27, 2008
Continued Dialogue
Engage Federal Labs with Industry Specific Needs
Partnership OpportunitiesOctober 1- (Simulcast) Energy Technology Forum: Energy Programs and the Federal Labs
Technology Survey distributed to help shape future collaboration between the Federal Labs and the northeast PA community
Bio-Life Sciences Workshop with NEPA Industry and Commonwealth Medical College
Innocentive: a platform for international problem solving
Alternative and Renewable Energy Resources Forum
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