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  • Writer's pictureBen Franklin 4 PA

Ben Franklin Technology Partners are economic heroes, one job at a time [Column]

The following is an excerpt from the Reading Eagle:

"... an organization that has helped boost entrepreneurship and business in Berks County and beyond has been the Ben Franklin Technology Partners of Northeastern Pennsylvania. The initiative 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.

The organization's record speaks for itself. According to an in-depth analysis by two independent nonpartisan research organizations — The Pennsylvania Economy League and KLIOS Consulting — every dollar invested by the state into Ben Franklin generates $3.90 in additional state taxes. Jobs created by Ben Franklin’s client industries pay an average of $79,364 annually, which is 52% more than the average non-farm wage in Pennsylvania.

Because of that success, Ben Franklin's statewide network was a recent recipient of a [proposed] $5 million funding increase from Gov. Tom Wolf in the Pennsylvania Innovation Plan.*

'A strong community and entrepreneurial network are crucial for success,' Wolf said while making last week's announcement. 'This holds true for start-ups, as well as established businesses. I’m proposing a strategic statewide innovation investment plan that will help get us on the right track to making Pennsylvania an innovation leader.'"

* EDITOR’S NOTE: Gov. Tom Wolf proposed the $5 million investment in the Ben Franklin Technology Development Authority as part of his draft 2020-21 General Fund budget, which was unveiled Feb. 4 and is currently being debated by the legislature. The state must have a final spending plan in place by June 30.


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