Ben Franklin Technology Partners in northeastern Pennsylvania estimates that they helped create or maintain 7,356 jobs in 2021.
In a press release, the organization said on Monday that its work has helped create or maintain 76,956 jobs across northeastern Pennsylvania since the program began in 1983.
Analyzing these numbers, last year the organization worked with 387 companies to create 952 new jobs, maintain 6,404 existing jobs, launch four companies and develop 160 new products and processes. did.
“Ben Franklin’s customers are an important part of the resilience that northeastern Pennsylvania is showing in the face of a pandemic,” said Angelo J. Valletta, president and chief executive officer of the organization. “I admire and congratulate our clients. All of them are committed to creating and maintaining high-paying, sustainable jobs that continue to drive economic prosperity.”
According to the company’s website, the organization invests and supports companies, creates and maintains high-paying and sustainable jobs, promotes technology-based economic growth in northeastern Pennsylvania, and improves human condition. We are advancing the technology to do. This organization connects clients with universities, funds and other resources to help them thrive through innovation.
Ben Franklin’s strategy focuses on:
• Early stage technology-oriented enterprise development and growth.
• Helps established manufacturers creatively apply new technologies to support global competition.
• Promote innovative community-wide infrastructure that supports Pennsylvania’s business technology ecosystem.
According to an independent study conducted by the Pennsylvania Economy League, an investment in Ben Franklin across Pennsylvania is equivalent to an investment in the State Treasury of $ 3.90 per $ 1 investment.
In addition, the work created by Ben Franklin’s clients is in an industry that pays 52% higher than the average non-agricultural wage in Pennsylvania. Since 1983, this program has typically been included in the top 5% of the most active investors in the United States.
According to information provided by Ben Franklin, client companies raised an additional $ 1.7 billion in 2021 from angel investors, venture capitalists and other investors, for a total of $ 59.2 billion since 2007. I received an additional investment.
This organization is part of a nationally funded economic development initiative consisting of four centers. Berks County is one of the 21 counties in Pennsylvania served by Ben Franklin Partners. Other counties within its geographic range are Bradford, Carbon, Colombia, Lackawanna, Lehi, Luzan, Lycoming, Monroe, Montur, Northampton, Northumberland, Pike, Schuylkill, Snyder, Sullivan, Susquehanna and Tioga. , Union, Wayne, Wyoming. county.
The Chester, Delaware, and Montgomery counties are within the service area of Ben Franklin Technology Partners in southeastern Pennsylvania.
Ben Franklin’s client companies submit statistics to Ben Franklin each year regarding the jobs created and retained, the development of new products and processes, and subsequent financing. Then report the annual impact to the Pennsylvania Community Economic Development Department. State-wide program.
With a general funding budget of 2022-23, Governor Tom Wolfe has proposed at least $ 22 million to the state-wide Ben Franklin Technology Partner Network. This will add $ 2 million to each of the four region-based Ben Franklin Centers.
“This increase is important to get us back in funding,” Valletta said. “This allows us to make the investments we need to support growth and provide the services our companies need to succeed.”
Ben Franklin is headquartered, owned and managed by Ben Franklin TechVentures, an award-winning technology business incubator / post-incubator facility on the mountaintop campus of Lehigh University in Bethlehem. It also owns and manages the Bloomsburg Regional Technology Center. Both incubators are members of the Ben Franklin Business Incubator Network, which is a 14-member member led by Ben Franklin Technology Partners in northeastern Pennsylvania.
Ben Franklin Technology Partners created / maintained 7,356 jobs in 2021.
Source link Ben Franklin Technology Partners created / maintained 7,356 jobs in 2021.