BFTP/NEP to Invest $135,000 In Regional Economic Development
The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors approved the investment of $135,000 in support of regional economic development in May 2011.
The investments are with one early-stage technology company, two established manufacturers, and one infrastructure project.
Piratecom LLC
Reading, Berks County
Ben Franklin Investment: $50,000
Complete product enhancements and implement a strategic plan to expand sales of Piratecom’s noise-reducing communication devices. Piratecom produces novel wired and wireless intercom systems and accessories for use in noisy environments in which accurate communication is essential. Beginning with the marine industry, the company will later expand into other market sectors.
Bazzini Holdings
Allentown, Lehigh County
University Partner: Lehigh University
Ben Franklin Investment: $50,000
Complete an Enterprise Resource Planning implementation that supports the consolidation of Bazzini’s operations to a single facility in the Lehigh Valley. This producer of nuts, fruits, and confections will garner significant savings through the consolidation, which will allow it to compete more effectively and support the company’s anticipated growth.
Demco Automation
Quakertown, Bucks County
University Partner: Lehigh University’s Enterprise Systems Center
Ben Franklin Investment: $30,000
Select and implement a new Enterprise Resource Planning System for this developer and manufacturer of custom automation equipment and controls. Demco’s patented modular and reconfigurable automation platforms are used for assembling, testing, inspecting, and packaging small parts. The new system will enable Demco to double its sales by 2014.
Pennsylvania Angel Network
Ben Franklin Investment: $5,000
Support the Pennsylvania Angel Network’s (PAN) efforts to provide resources and support to the Pennsylvania angel community, foster the growth of existing angel investor groups, and promote the formation of new angel investor groups. PAN’s goal is improve the overall environment for investors, increase the number of investors, and increase investment dollars in Pennsylvania for high-growth early-stage companies.
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