The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) has reported that 904 northeastern Pennsylvania jobs were created or retained as a result of its work in 2013. These results were accomplished in the organization’s 21-county service area, including Berks, Bradford, Carbon, Columbia, Lackawanna, Lehigh, Luzerne, Lycoming, Monroe, Montour, Northampton, Northumberland, Pike, Schuylkill, Snyder, Sullivan, Susquehanna, Tioga, Union, Wayne, and Wyoming counties.
Impact results are a summation of the accomplishments of Ben Franklin’s work as reported by client companies. Clients credit the impact figures as having been a direct result of Ben Franklin funding and support. Results are reported by Ben Franklin to the Pennsylvania Department of Community and Economic Development, which funds the statewide Ben Franklin program.
“Creating high-paying, sustainable jobs in growing technology sectors is a proven way to build a region’s economy,” said R. Chadwick Paul, Jr., President and CEO of BFTP/NEP. “Our investments and support have accelerated the success of start-up technology firms and have helped established manufacturers to apply technology to increase their competitiveness.”
The Ben Franklin Technology Partners of Northeastern Pennsylvania links clients with universities, funding, and other resources to help them prosper through innovation. BFTP/NEP’s strategy encompasses three key areas: developing early-stage, technology-oriented companies; helping established manufacturers creatively apply new technology and business practices; and promoting an innovative community-wide infrastructure that supports a favorable business environment for high-growth companies.
The northeastern center is part of a four-center, state-funded economic development initiative. BFTP/NEP is headquartered in, owns, and manages Ben Franklin TechVentures®, an award-winning technology business incubator/post-incubator facility on Lehigh University’s Mountaintop Campus in Bethlehem.
In 2013, the Ben Franklin Technology Partners of Northeastern Pennsylvania reported the following results:
Created 394 New Jobs
Retained 510 Existing Jobs
Started 16 New Companies
Developed 90 New Products and Processes
The Ben Franklin Technology Partners of Northeastern Pennsylvania was established in 1983, and has achieved the following cumulative results:
Created 16,214 New Jobs
Retained 22,155 Existing Jobs
Started 458 New Companies
Developed 1,279 New Products and Processes
An independent study produced by the Pennsylvania Economy League shows that Pennsylvania’s investment in Ben Franklin Technology Partners statewide from 2007 to 2011 returned $3.60 in new tax revenue for each $1 spent. Since 1989, Ben Franklin statewide has created 51,000 additional jobs in client firms and has boosted the Pennsylvania economy by more than $23.5 billion. Jobs created by Ben Franklin’s clients pay 36 % more than the average non-farm wage in Pennsylvania.