Ben Franklin’s Record of Success
Year after year, investments by Ben Franklin Technology Partners continue to pay huge dividends for the commonwealth.
The numbers say it all.
Every dollar invested by the state into Ben Franklin generates $4.00 in additional state taxes, the analysis found, with Pennsylvania receiving $386 million in additional state tax receipts as a result of Ben Franklin’s investments in clients.
VIEW OUR 2022 IMPACT REPORT
Startups and innovative established manufacturers seek fertile ecosystems. In partnership with the Department of Community and Economic Development, Ben Franklin creates and develops those ecosystems to make Pennsylvania more attractive, and supports and nurtures the types of jobs and opportunities that young people seek, keeping our students, children, and grandchildren in Pennsylvania.
Launched 40 years ago, Ben Franklin has become one of the most widely known and emulated state technology-based economic development programs in the nation. And for good reason. The statewide initiative has become the international gold standard for high-tech development.
Ben Franklin leverages the excellence of Pennsylvania’s colleges and universities to build and accelerate the development of technology-based industries through competitive investments in early-stage startups and funding for innovation in established manufacturers.
The statewide initiative also supports university-based centers of excellence and promotes greater collaboration among academia, businesses, investors and government.
According to the statewide initiative’s “ 2022 Annual Statewide Impact Report ,” Ben Franklin clients generated $2.4 billion in revenue and secured $1.1 billion in post-Ben Franklin financing. The tech-based economic development program also supported 2,018 companies and helped clients create nearly 1,508 jobs while retaining 10,145 more positions.
Since its inception 40 years ago, Ben Franklin has boosted the state economy by more than $30 billion, helping to generate 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.
2022 Economic Impact:
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1,508 jobs created by client companies
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10,145 jobs retained by client companies
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124 new client companies formed
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$2.365 billion in sales revenue generated by current client companies