Between 2017 and 2021, Ben Franklin Technology Partners generated $6.1 billion for the state economy and $400 million in tax receipts by helping to create 16,006 jobs, according to an independent economic analysis by KLIOS Consulting and Econsult Solutions.
In addition, every dollar Ben Franklin invested generated $4 in additional state taxes.
Ben Franklin invested in 612 companies statewide. The investment generated 5,874 jobs and 10,132 spinoff positions. The state of Pennsylvania received $352 million in state tax receipts as a direct result of Ben Franklin’s investment and another $48 million in state tax receipts from related Ben Franklin client services.
“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,” Ryan E. Glenn, Ben Franklin director of statewide initiatives, said.
“That proves that investments in innovation are a powerful job creation and high-tech economic development engine for Pennsylvania.”
Growth surpassed the previous five-year analysis for 2012 to 2016.
Ben Franklin formed more than 40 years ago. Its investments have added more than $30 billion to the state economy, created more than 58,000 direct jobs, and created 101,000 spinoff jobs.