Study: Ben Franklin Grew PA.’s Economy By $6.1 Billion, Created 16,6006 Jobs From 2017 to 2021
Ben Franklin Technology Partners generated $400 million in tax receipts for the state and boosted Pennsylvania’s overall economy by $6.1 billion between 2017 and 2021, helping to create 16,006 high-paying jobs during that same period, according to the latest in-depth independent economic analysis.
Since its inception more than 40 years ago, Ben Franklin has now boosted the state economy by more than $30 billion, generating more than 58,000 jobs in client firms, plus an additional 101,000 spinoff positions, for a total of 159,000 new jobs that otherwise would never have existed.
“Year after year, Ben Franklin continues to deliver impressive results, which is why we are one of the most widely known and emulated state technology-based economic development programs in the nation,” said Ryan E. Glenn, Ben Franklin’s Director of Statewide Initiatives.
What is impressive about this latest report is that it found that growth surpassed the previous five-year analysis, from 2012 to 2106, despite the most recent reporting period being hit hard by a global recession brought on by the COVID-19 pandemic.