Pennsylvania’s Innovation Economy Driving Growth

A new national report that ranks states for business performance and competitiveness shows Pennsylvania making significant gains over the last year, with technology and innovation among the driving forces behind the economic resurgence.

Pennsylvania jumped six spots from 23 to 17 in CNBC’s annual rankings for America’s Top States for Business in 2022, now in its 15th year. The analysis puts the states through an unprecedented 88 metrics in 10 broad categories of competitiveness—essentially the same categories the organization has used since its first study in 2007 to ensure consistency in measurements.

A deeper dive shows Pennsylvania among the Top 10 for technology and innovation last year, ranking seventh nationally. That is up from 14th in 2021, offering a demonstrative look at how important investments in innovation are to the new economy.

In fact, in this latest report, technology and innovation scored the state’s highest ranking and was the only category where Pennsylvania was among the Top 10.

At Ben Franklin Technology Partners, we understand the value of bringing cutting-edge ideas to market to power the economy, drive investments, and create jobs.

According to the most recent economic and performance assessment of the statewide initiative, Ben Franklin’s investments paid huge dividends for Pennsylvania, with clients generating more than $2 billion in revenue and securing $917 million in post-Ben Franklin financing.

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