The Ben Franklin Technology Partners of Northeastern Pennsylvania, a program that partners client companies with resources that help them prosper through innovation, was responsible for creating 480 new jobs and retaining 5,488 existing jobs in 2018.
It also helped nine startups and was responsible for the development of 202 new products or processes.
The program is funded through the Pennsylvania Department of Community and Economic Development and serves clients in 21 counties.
“These strong northeastern Pennsylvania impacts support the findings of the recent independent study conducted by the Pennsylvania Economy League,” Laura Eppler, the program’s chief marketing officer, said. “According to the study, Pennsylvania’s investment in Ben Franklin statewide represents a $3.90 payback to the state treasury for every dollar invested. And the jobs created in Ben Franklin clients are in industries that pay 52 percent more than the average state wage.”
The program was founded in 1983. Since then, it has assisted with the creation of 520 new companies, the development of 1,935 new products or processes, the creation of 18,536 new jobs and the retention of 37,328 existing positions.
In 2018, client companies also raised an additional $62.9 million in funding from venture capitalists, angel investors and other investors.