Ben Franklin’s Commitment to Helping Clients Navigate the Impact of COVID-19
With the recent news and uncertainty surrounding the COVID-19 situation, this is an unprecedented time for Pennsylvania residents and the entire nation. Ben Franklin is committed to do everything within our power to help our clients to continue operations as effectively as possible.
While in-person meetings and activities have been postponed, our staff is ready and available by phone and email to advise our clients. For more information about ongoing efforts, and links to community resources, please take a moment to visit our Blog.
2020-21 General Fund Budget
Gov. Tom Wolf’s proposed 2020-21 General Fund budget includes a $5 million increase for the Ben Franklin Technology Development Authority (BFTDA), which funds the statewide Ben Franklin Technology Partners initiative, one of the most widely known and emulated state technology-based economic development programs in the nation.
The proposed investment comes at a critical time. In the nation’s highly competitive high-tech economy, every dollar matters. Building an ecosystem that fosters innovation and drives entrepreneurial success isn’t easy, or cheap. But smart investments like this can drive economic growth and ensure Pennsylvania continues to capture its share of emerging high-tech developments.
Ben Franklin supports fledgling enterprises at their most vulnerable point --- the early stages of commercialization and market development --- and provides vital support services that clients cite as being key factors in their eventual success. According to independent analyses, every dollar invested by the state into Ben Franklin generates $3.90 in additional state taxes.
The challenge now is making sure Pennsylvania remains at the forefront, considering how fierce the competition is. The governor’s proposed $5 million investment is a good first step in getting us to where we need to be --- back at the leading edge of innovation and high-tech development.