statewide strength, regional focus, global impact
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Statewide Strength, Regional Focus, Global Impact. Gerald A. Ephault Regional Manager www.benfranklin.org. - PowerPoint PPT PresentationTRANSCRIPT
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Statewide Strength, Regional Focus, Global Impact
Gerald A. EphaultRegional Manager
www.benfranklin.org
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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.
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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.
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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
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Northeastern PA
Southeastern PA
Central Northern PA
Innovation Works
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Investments1983-2007
State Funds: $150,588,863
Private Sector: $389,423,083
Other Match: $102,336,340
Total Investment: $642,348,286
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CNBC State Competitiveness Rankings
Access to Capital 6
Education 6
Technology & Innovation9
Quality of Life 12
Transportation 16
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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
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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
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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
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RESULTS OF BF INVESTMENTS Northeast Pennsylvania Technology
Center
Companies started
Products/Processes
Jobs Created
Jobs Retained
377
769
13,043
20,253
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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
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FLC and Northeastern Pennsylvania
ACTION- Full day Symposium, March 27, 2008
Continued Dialogue
Engage Federal Labs with Industry Specific Needs
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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