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PA Governor Rendell Congratulates Ben Franklin Technology Partners on National Award

HARRISBURG, Pa., June 9 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell today congratulated the Ben Franklin Technology Partners for earning a national award from the U.S. Commerce Department for its technology-oriented economic development efforts.

Ben Franklin Technology Partners received the Commerce Department's Economic Development Administration's Excellence in Economic Development Award last week in the category of Technology-led Economic Development.

"For 25 years, Ben Franklin Technology Partners have pioneered the way for economic progress in Pennsylvania," Governor Rendell said. "This award is a great reflection on their efforts and, coming in the Ben Franklin program's 25th anniversary year, recognizes the commonwealth's foresight in devoting resources to make us a leader in technology investment."

The Ben Franklin model has become an internationally-recognized and widely-copied model for innovation in technology-based economic development, Governor Rendell said.

The partners operate regionally, with four centers throughout the Commonwealth:

    --  Hidden List 					 					Hidden List 					 					Hidden List 					 				
        Hidden List 					Ben Franklin Technology Partners of Central and
        Northern PA 					Hidden List 					 (http://www.cnp.benfranklin.org/)
    --  Hidden List 					 					Hidden List 					 					Hidden List 					 				
        Hidden List 					Innovation Works, the Ben Franklin Technology Partners 
        				Hidden List 					 of Southwestern PA 					Hidden List 					
        (http://www.innovationworks.org/)
    --  Hidden List 					 					Hidden List 					 					Hidden List 					 				
        Hidden List 					Ben Franklin Technology Partners of Southeastern 				
        Hidden List 					 PA 					Hidden List 					
        (http://www.sep.benfranklin.org/)
    --  Hidden List 					 					Hidden List 					 					Hidden List 					 				
        Hidden List 					Ben Franklin Technology Partners of Northeastern PA 			
        	Hidden List 					 (http://www.nep.benfranklin.org/)

The partners provide resources for entrepreneurial development and technological innovation for technology-driven enterprises, including 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 growth and
        bring advances into the marketplace, and;
    --  Drawing on an extensive network of public and private resources,
        including universities, federal laboratories and research institutions.

From 2004 - 2006, Ben Franklin Technology Partners' portfolio companies collectively leveraged $1.1 billion in follow-on funding. In addition, the partners created and retained 9,410 jobs, provided 758 companies with financial assistance or investment, provided 2,483 companies with business or technical assistance and assisted companies in creating 751 new or improved products or processes.

"While it is humbling to receive such recognition and we are very proud to receive this award, our greatest satisfaction comes from being able to play a role in helpingPennsylvania entrepreneurs achieve their dreams, while at the same time creating high-paying jobs for Pennsylvanians," said Terry Singer, Director of Statewide Affairs for Ben Franklin Technology Partners.

"We are inspired by their accomplishments and greatly appreciate the ongoing support and guidance of our many partners, particularly Governor Rendell, the PA General Assembly, the Ben Franklin Technology Development Authority, our regional Boards of Directors, our dedicated staff and the hundreds of experts across the Commonwealth who lend of their time and efforts on a voluntary basis to help our entrepreneurs succeed," Singer continued.

The Rendell administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: www.governor.state.pa.us.

CONTACT:

Teresa Candori

717-783-1116

Jamie Fulginiti (DCED)

717-720-1387

SOURCE Pennsylvania Office of the Governor