From Berks to Bradford, Carbon to Columbia, and Monroe to Montour, the impact of Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) was felt in a big way in 2008.
BFTP/NEP reported it created or retained 1,408 jobs in the organization’s 21-county service area in Northeastern Pa. last year. The tally of its work in 2008 also included starting 19 new companies, developing 96 new products or processes, creating 888 new jobs and retaining 520 existing new jobs.
Taking stock of BFTP/NEP, which links Pennsylvania companies with universities, funding and other resources to help them prosper through innovation in today’s knowledge-based economy, shows what investment in local companies and ideas can help strengthen the regional economic picture even during a recession.
“Creating high-paying, sustainable jobs in growing technology sectors is a proven way to build a region’s economy,” says R. Chadwick Paul Jr., President and CEO of BFTP/NEP. “Our work will help cushion the economic downturn, hasten recovery, and position Northeastern Pennsylvania for future success.”
Impact results are based on reports by client companies and reported to the Pennsylvania Department of Community and Economic Development, which funds the Ben Franklin program and its four regional offices. A recent study by the Pennsylvania Economy League shows the state’s investment in Ben Franklin Technology Partners statewide from 2002-2006 infused billions into Pennsylvania’s economy, returning $3.50 in new tax revenue for each $1 spent.
Since BFTP/NEP was established in 1983, it has started 398 new companies, created 13,931 new jobs, and retained 20,772 existing jobs.
Source: R. Chadwick Paul Jr., Ben Franklin Technology Partners
Writer: Joe Petrucci
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