Pennsylvania’s Technology Sector Gets $22 Million Investment, 375 Jobs Statewide
The commonwealth approved nearly $22 million in investments today to support innovation and help new technology companies grow and create 375 jobs, Governor Edward G. Rendell said.
“Pennsylvania’s latest investments will provide vital resources for companies that are looking to enter the marketplace; they will help stimulate our economy by creating hundreds of great-paying jobs; and they will pave the way for a stronger future for the state,” Governor Rendell said.
The Ben Franklin Technology Development Authority approved $16 million to be allocated equally this year among the four regional Ben Franklin Technology Partners. The four regional centers are among the state’s most important resources for vital early stage capital.
“In many cases, these investments serve as the final, crucial piece for many start-up, pre-seed and seed companies to take off,” the Governor said. “This piece can often determine whether the company or project is a ‘go, or no-go.’”
The Ben Franklin Technology Partners have helped create and expand high-growth companies with seed funding and technical assistance for 26 years.
In addition, the Ben Franklin Technology Development Authority approved more than $1 million for 10 existing Keystone Innovation Zones throughout the state, and almost $5 million for several other projects.
The Ben Franklin Technology Development Authority is one of the nation’s largest state technology development programs, providing a vehicle for investment in economic, community, and university-based innovation. Authority programs are a key component in the strategy and mission of the Department of Community and Economic Development.
The Governor said the Ben Franklin Technology Development Authority has leveraged more than $4.8 billion since 2003, which has helped to create more than 33,000 jobs.
For more information on BFTDA or the commonwealth’s other community and economic development programs, visit www.newPA.com or call 1-866-466-3972.
Topics: economic development, Economy, employment, Governance, investment, jobs, Pennsylvania, technology, technology companies, U.S., United States, vital resources
Print This Article in Plain Text
|
|
Latest Headlines
- Osama Bin Laden Dead?
- Florida To Share $1 Billion For Gulf Coast Restoration Efforts
- Texas Prays For Rain During Extreme Drought Conditions
- Governor Christie Takes Action To Reduce Diesel Emissions, Improve Air Quality
- Governor McDonnell Outlines Draft Transportation Improvement Program
- Alaska Energy Bill Passes Legislature
- Illinois State Building Receives ENERGY STAR Award
- Homeland Security Begins Using National Terrorism Advisory System
- U.S. Outlines New Health Insurance Options For Graduating College Students
- Electrolux Expands In North Carolina, To Create 200 Jobs In Charlotte
- Virginia Storm Victims To Receive Tax Extension
- U.S. Expands Broadband Investment For Rural Areas To Accelerate Job Creation
- U.S. To Invest $130 Million For Advanced Energy Research
- Michigan Passes “I’m Sorry” Bill
- Kentucky Sells Two State Aircraft To Save Taxpayer Dollars
