Results & Impact
The impact of Ben Franklin Technology Partners is quantifiable and measurable. Since 1983, the BFTP of Northeastern Pennsylvania has achieved the following results.
- Created 16,600 new jobs
- Retained 22,958 existing jobs
- Started 470 new companies
- Developed 1,356 new products and processes
- BFTP/NEP has assisted 2,175 companies.
- Client companies raised $1.357 billion in follow-on funding from other investors.
The Pennsylvania Economy League, a nonpartisan research organization, conducted an independent, objective evaluation of the economic impact of Ben Franklin in Pennsylvania from 2007 through 2011. The results determined that the Ben Franklin Technology Partners (BFTP) has created significant economic impact for the Commonwealth of Pennsylvania.
As a result of Ben Franklin’s work, Pennsylvania generated more than $502 million in additional state tax revenues. That represents a 3.6-to-1 payback on the Commonwealth’s investment. The BFTP program boosted Pennsylvania’s economy by $6.6 billion (increase in gross state product) and produced a total of 20,200 jobs in the Commonwealth in that five-year period.
Cumulative results since 1989 include:
- The Ben Franklin program boosted the Pennsylvania economy by more than $23.5 billion.
- The BFTP program has generated 51,000 additional jobs in client firms.
- The BFTP program generated 89,000 additional jobs beyond those in client firms, for a total of 140,000 additional jobs.