HARRISBURG: On behalf of Governor Edward G. Rendell, Department of Community and Economic Development Secretary Dennis Yablonsky today announced over $1.7 million in funding by the Ben Franklin Technology Development Authority (BFTDA) to support the Governor’s technology-focused economic development strategy.
“The Rendell Administration is committed to providing funding which will support Pennsylvania’s emerging small businesses, universities and communities,” said Secretary Yablonsky. “The programs approved today will enhance partnerships with new, hi-tech businesses, create new jobs and positively contribute to Pennsylvania’s economy.”
The BFTDA is a state-funded network dedicated to fostering technology innovation, strengthening the Commonwealth’s economy and creating and retaining high-salary jobs that require advanced skill levels. The BFTDA provides funding for a host of technology initiatives and supports four Ben Franklin Technology Partners throughout Pennsylvania that identify the most promising technological ventures and provide them with technical assistance and capital.
The following projects were approved by the Ben Franklin Technology Development Authority:
Williamsport/Lycoming Keystone Innovation Zone: The Industrial Modernization Center, Inc. was awarded $242,900 for operating costs relating to the Williamsport/Lycoming KIZ (WLKIZ). Partnering with the Pennsylvania College of Technology and Lycoming College, the WLKIZ will encourage new business start-ups, technology transfer, and product and process innovation in Diversified Manufacturing with a specific focus on the plastics and wood industries.
Greater Susquehanna Keystone Innovation Zone: The Columbia Alliance for Economic Growth was awarded $200,000 for costs associated with the coordination and administration of the Greater Susquehanna KIZ (GSKIZ) program. Partnering with Bloomsburg University, Bucknell University, Susquehanna University, Ben Franklin Technology Partners/Northeastern Pennsylvania and Geisinger Ventures the GSKIZ will utilize available resources to create and develop new for-profit businesses throughout the region.
Philadelphia Consortium for Sustainable Design and Research Project: Philadelphia University was awarded $750,000 for the Philadelphia Consortium for Sustainable Design and Research Project. Philadelphia University, Villanova University, Temple University and the Ben Franklin Technology Partnership formed the Consortium in order to expand their activities in green or environmentally friendly and recycled construction materials. This project will continue to benefit the region by attracting federal research dollars, stimulate economic growth and collaborate with local companies seeking to grow their business and create jobs by adopting green initiatives.
Cluster-Based Technology Assistance Project: The Pennsylvania Technical Assistance Program (PENNTAP) will receive $400,000 for the Cluster-Based Technology Assistance project. PENNTAP, a market-driven organization which supports technology-based economic development by responding to the needs of the business community, will provide direct one-on-one technical assistance to companies to educate, develop and encourage early adoption of Advanced Information Technology to increase a business’ global competitiveness. The initiative has also identified Healthcare as a statewide industry cluster and will provide assistance to this sub-sector of the life sciences industry throughout the Commonwealth.
Innovation Partnership (IPART): Innovation Philadelphia was awarded $200,000 for continued support of the Innovation Partnership (IPART) program. IPART is a collaborative partnership between the DCED, Innovation Philadelphia, Pennsylvania’s Small Business Development Centers, Ben Franklin Partners, the Catalyst Connection, the Pennsylvania Life Sciences Greenhouses, Pennsylvania Bio, Penn State University Industrial Research Office, PENNTAP, Johnstown Area Regional Industries and the Small Business Administration. IPART will build upon past successes and provide critical resources such as enhancing the Innovations Partnerships’ website, developing mentoring networks specifically targeted to small businesses and hosting technology-specific workshops which will offer the Commonwealth’s company’s the ability to compete more effectively in leveraging federal as well as other forms of funding.
In addition, the Innovation Partnership has been awarded a $95,000 federal grant from the Small Business Administration’s (SBA) Federal and State Technology Partnership (FAST) Program. The FAST grant program was designed to assist individual states create awareness and utilization of the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) grant programs.
Governor Rendell’s economic stimulus package contains several programs that focus on technology development including the New Pennsylvania Venture Capital Investment Program, Second Stage Loan Guarantee, the New Pennsylvania Venture Loan Guarantee Program, Keystone Innovation Zones and the Research and Development Tax Credit and its tradability. These programs focus investment in new high-growth companies and channel support and funding for companies to expand, create jobs and retain Pennsylvania’s talent.
For additional information on any of the stimulus package programs, please visit
www.newPA.com or call 1-(866)-GO-NEWPA (866) 466-3972.
Neil R. Weaver
Deputy Press Secretary
Communications Office
Pennsylvania Department of Community and Economic Development
tel: (717) 783-1132
fax: (717) 772-4559
