HARRISBURG, November 14, 2017 – State Sen. John Blake (D-Lackawanna/Luzerne/Monroe) today applauded the investment of over $170,000 by the Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) in regional economic development projects.
The funding, approved by the BFTP/NEP Board of Directors, is designed to develop and grow early-stage technology-oriented companies; help established manufacturers creatively apply new technology and business practices; and to promote an innovative community-wide infrastructure.
“I applaud the BFTP/NEP Board of Directors for their dedication to bringing early-stage investment back to Lackawanna County,” Blake said. “This program has been critically important to our economy and continues to make smart investments that develop and grow our innovative local businesses.”
In 2013, Senator Blake spearheaded the development and passage of the Innovate in PA program which provided for the sale of deferred tax credits in order to provide a source of investment capital for investment by the BFTP and others.
The following local companies received an early-stage company investment through the Ben Franklin Technology Partners:
- ChannelApe (Scranton) received $100,000 to support customer integrations and marketing and sales efforts for an integration Platform as a Service (iPaaS) for e-commerce store owners.
- Pleasant Mount Welding (Carbondale) received $25,000 to complete an advanced wastewater treatment system that removes pollutants from wastewater at treatment facilities.
- Simplex Industries (Scranton) received $25,000 to fully integrate and implement AutoCAD 3D architecture and line automation equipment and processes to improve production flow and increase throughput.
- JED Pool Tools (Scranton) received $21,450 to implement an Enterprise Resource Planning tool.
Since beginning operation, BFTP/NEP has helped to create 17,415 new jobs for Pennsylvania workers and to retain 27,384 existing jobs, to start 492 new companies, and to develop 1,591 new products and processes.
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