RENDELL ADMINISTRATION ANNOUNCES FUNDING FOR TECHNOLOGY PROJECTS FOR IMMEDIATE RELEASE
COMMONWEALTH OF PENNSYLVANIA

July 24, 2003
Department of Community and Economic Development Commonwealth News Bureau

Room 308, Main Capitol

Harrisburg, PA 17120

CONTACT: Brandi Coleman (717) 783-1132

RENDELL ADMINISTRATION ANNOUNCES FUNDING FOR TECHNOLOGY PROJECTS

Funds will strive to increase the technology-based economy throughout PA

HARRISBURG: Community and Economic Development Secretary Dennis Yablonsky today announced the approval of a total of more than $30 million in funding by the Ben Franklin Technology Development Authority (BFTDA) to support Pennsylvania’s technology-focused economic development strategy. The funding is being provided to the Center for e-Business and Advanced Information Technology located in Erie and the four regional Ben Franklin Technology Partners.

“The Center for eBusiness and Advanced Information Technology is delivering on its commitments that were made to the Commonwealth last year,” Secretary Yablonsky said. “The Center is building opportunities for technology workers through a unique partnership. By strengthening relationships between industry and innovation, we are creating employment opportunities for a new Pennsylvania.”

In July 2002, the BFTDA helped to create the Center for eBusiness and Advanced Information Technology as an e-commerce/information technology (IT) initiative to accelerate economic development in northwest Pennsylvania and throughout the Commonwealth. The project is strengthened by collaboration among the Commonwealth of Pennsylvania, GE Transportation Systems (GETS), the Economic

Development Corporation of Erie County (EDCEC), and Penn State Erie. The initiative is designed to help level the IT playing field for northwest Pennsylvania, which currently lags behind the state and nation in per capita income, percent of IT-producing and IT-using establishments, and in relative percent of IT employees. Secretary Yablonsky said that through exposure to opportunities and expertise in the latest IT techniques, businesses can get the help they need to enter the digital economy and better compete. As a result, northwest Pennsylvania, as a region, can develop into an area noted for IT excellence. Moreover, best practices developed through initial activities in the region can be replicated throughout the Commonwealth.

The Center is focused on a number of opportunities that include:

· using intellectual property and best practices shared by GETS as the nucleus for a research-based approach to IT development;

· promoting IT-related research and development through the establishment of strategic centers of excellence in several IT areas, including remote monitoring and diagnostics, and e-commerce; and

· developing a pipeline and training ground for IT talent for northwest Pennsylvania business and industry.

In other business, the BFTDA board approved funding of $27,611,000 for the annual appropriation to the four regional Ben Franklin Technology Partners, which are celebrating their 20th year of providing

service to Pennsylvania’s technology-focused companies.

Each partner will receive $6,902,750 to fulfill their mission of strengthening the Commonwealth’s economy by fostering technology innovation and creating and retaining high-wage, high-skilled jobs. “Pennsylvania is recognized as a leader in technology development,” Secretary Yablonsky said. “The Ben Franklin Partners are providing opportunities designed to meet the needs of technology-oriented businesses by investing in

economic, community and university-based innovation, ensuring that Pennsylvania is creating new jobs in growing areas of the economy.”

The four Ben Franklin Partners include:

· Innovations Works, Inc, The Ben Franklin Technology Partner serving southwestern Pennsylvania.

· The Ben Franklin Technology Partner of Central and Northern Pennsylvania.

· The Ben Franklin Technology Partner of Northeastern Pennsylvania

· The Ben Franklin Technology Partner of Southeastern Pennsylvania.

For more than two decades, the four Ben Franklin Technology Partners, an international model for innovation in technology-based economic development, have worked to diversify and strengthen

Pennsylvania's economy by focusing on entrepreneurial development and technological innovation. With a focus on the entrepreneur as the ultimate engine of growth, the Ben Franklin Technology Partners deliver crucial resources for technology-driven enterprises in sectors such as information technology, life sciences, communications, advanced manufacturing, advanced materials and environmental technology by:

· Investing risk capital in emerging technology-based enterprises and established businesses;

· Providing hands-on technical and business expertise to spur enterprise growth and accelerate commercialization activities; and,

· Delivering customized solutions that draw on an extensive network of public and private resources, including universities, federal laboratories and research institutions.

Since 1999 the Ben Franklin Technology Partners have been part of the Ben Franklin Technology Development Authority, a $53.5 million powerhouse providing a range of programs focused on building on technology-focused economy.

The BFTDA provides flexible financing and investment opportunities designed to meet the needs of technology-oriented businesses as well as providing support for local initiatives that stimulate advancement of

technology in businesses and communities.

The BFTDA funding supports the Pittsburgh Digital Greenhouse, the NanoManufacturing Partnership (State College), the NanoTechnology Initiative (Southeast) and the Center for Optical Technologies

(Lehigh) as well as several grants that are improving technology training and access throughout Pennsylvania.

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2003