The Economic Impact of Ben Franklin Technology Partners
With a focus on startups and innovation, Ben Franklin Technology Partners (BFTP) remains a powerful job creation and high-tech economic development engine for Pennsylvania, according to the latest independent economic analysis of the organization. But state funding shortfalls are starting to curtail the partners' ability to fund companies appropriately, creating missed opportunities.
An in-depth analysis from two nonpartisan research organizations, The Pennsylvania Economy League and KLIOS Consulting, found that Ben Franklin helped to create 11,407 high-paying jobs, generated $386 million in tax receipts for the state, and boosted the commonwealth's overall economy by $4.1 billion between 2012 and 2016.
Every dollar invested by the state into Ben Franklin generates $3.90 in additional state taxes, the analysis found.