The Pennsylvania Economy League, a nonpartisan research organization, conducted an independent, objective evaluation of the economic impact of Ben Franklin Technology Partners in Pennsylvania from 2002 through 2006.
These newly released results determined that BFTP has created significant positive economic impact for the Commonwealth.
- BFTP boosted the Pennsylvania economy (Gross State Product) by $9.3 billion, or $8.7 billion after adjusting for inflation.
- The Commonwealth received more than $517 million in additional state tax revenues as a direct result of BFTP. This represents a 3.5-to-1 payback to the Commonwealth on its investment during the same period.
- BFTP clients employed five more people on average in each year following funding than they would have in the absence of BFTP investment.
- BFTP generated 10,165 additional job-years* in client firms. Those jobs are in industries that pay 33 percent more than the average non-farm salary in Pennsylvania.
- Client impacts ripple throughout the Pennsylvania economy, contributing to higher Gross State Product and additional employment across the state. BFTP generated an additional 22,667 job-years in Pennsylvania beyond those in client firms. The result was that BFTP produced a total of 32,832 job-years in the Commonwealth that would otherwise not have existed.
Since 1989, BFTP has…
- Boosted the state’s economy by more than $17 billion.
- Generated 45,667 additional job-years in client firms and 80,160 job-years beyond those in client firms—for a total of 125,827 additional job-years.