BFTP’s Powder Metals Initiative Wins U.S. Department of Commerce Award
BFTP’s Powder Metals Initiative received high honors when the Commerce Department announced the organization was the winner of the 2005 Excellence in Economic Development Award for Regional Competitiveness.
The award, presented September 22 at the Economic Development Administration’s “Symposium for 21st Century Economic Development,” recognizes BFTP’s Powder Metals Initiative’s commitment to sound, research-based, market-driven economic development in helping grow the local economy.
“(BFTP’s) leadership in powder metals has the potential to revitalize Pennsylvania’s manufacturing industry, which has suffered tough jobs losses, and encourage long-lasting economic development,” said U.S. Senator Arlen Specter.
“An Outstanding Job…”
U.S. Senator Rick Santorum noted that BFTP does an outstanding job of matching ambition and ability with funding and opportunity in central and northern Pennsylvania.
“Ultimately, the success of this group contributes to the success of Pennsylvania’s communities. I commend them on their efforts to ensure that Pennsylvania remains a great place to live and do business, and am delighted they have received this well-deserved recognition,” Santorum said.
Vic Russo, president of BFTP/CNP, said he is humbled by this national recognition and he was quick to recognize this as a team effort. “I thank James Ryan, the co-founder of Windfall Products, and the other industry folks that helped and, especially, Don Masisak of Northcentral Regional Planning and Development Commission,” he said.
Initiative Could Lead to 3,000 Jobs
If current sales projections are realized, the initiative could help lead to 3,000 jobs in the powder metals industry. “We all hope that this initiative will make a big impact on the industry and allow PM parts producers to compete more effectively for products that operate at higher strength and higher temperature,” Russo added.
U.S. Rep. Phil English noted this award is long-overdue public recognition of the fine work done by BFTP to address economic development needs across northwestern Pennsylvania. “It’s also an important signal to those considering investing in our region that we are serious about creating and retaining jobs. I offer my congratulations to the Ben Franklin Technology Partners for the good work and for putting the community in a favorable national spotlight.”
EDA’s mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy. For more information on EDA, click here: http://www.eda.gov.
Tags: 