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Statewide Strength, Regional Focus, Global Impact

Statewide Strength, Regional Focus, Global Impact. Gerald A. Ephault Regional Manager www.benfranklin.org.

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Statewide Strength, Regional Focus, Global Impact

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  1. Statewide Strength, Regional Focus, Global Impact Gerald A. Ephault Regional Manager www.benfranklin.org

  2. 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.

  3. 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.

  4. 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

  5. Northeastern PA Southeastern PA Central Northern PA Innovation Works

  6. Investments1983-2007 • State Funds: $150,588,863 • Private Sector: $389,423,083 • Other Match: $102,336,340 • Total Investment: $642,348,286

  7. CNBC State Competitiveness Rankings • Access to Capital 6 • Education 6 • Technology & Innovation 9 • Quality of Life 12 • Transportation 16

  8. 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

  9. 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

  10. 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

  11. Companies started Products/Processes Jobs Created Jobs Retained 377 769 13,043 20,253 RESULTS OF BF INVESTMENTS Northeast Pennsylvania Technology Center

  12. Ben Franklin Northeast Pennsylvania • 10 incubator network including Tech Ventures • 6 Keystone Innovation Zones • 5 SBDC • 3 Appalachian Regional Local Development Districts • 100+ Professional Advisors: Solution Network • 50+Technical Advisors: Review Panels • 9 County, $15MM Workforce Innovation in Rural Economic Development-Wall Street West • Boeing Technology Alliance

  13. FLC and Northeastern Pennsylvania • ACTION- Full day Symposium, March 27, 2008 • Continued Dialogue • Engage Federal Labs with Industry Specific Needs

  14. Partnership Opportunities • October 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

  15. Gerald A. Ephault Regional Manager P: 570-819-4002 E: gephault@nep.benfranklin.org

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