Budget proposal provides $14.5M in investment funding

Gov. Tom Wolf has proposed allocating $14.5 million in funding in the 2021-22 General Fund budget to the Ben Franklin Technology Development Authority to provide continued innovation investments.

The authority funds the Ben Franklin Technology Partners (BFTP). This proposal maintains Ben Franklin’s base appropriation level.

“We’re grateful for the governor’s support and look forward to working with his administration and the General Assembly to ensure Ben Franklin has the resources it needs to keep building an ecosystem that fosters high-tech development and drives entrepreneurial success,” Ryan E. Glenn, Ben Franklin’s director of statewide initiatives, said.

BFTP invests in and supports innovative manufacturers, high-tech entrepreneurs, and startups that create and retain highly paid, sustainable jobs that drive the new economy.

It is a statewide economic development initiative with four regionally based centers and multiple satellite offices. The regional centers are based in Bethlehem, Pittsburgh, Philadelphia, and State College.

Last year, the state asked Ben Franklin to help launch the Pennsylvania Manufacturing Call to Action Portal. The portal rapidly mobilized innovative manufacturers to produce critical medical products in response to the COVID-19 pandemic.

The manufacturers are working on logistics, testing, treatments, and support mechanisms such as mobilizing or retooling manufacturing to produce the critical medical supplies.