Creating a Knowledge Worker Economy March 22, 2006

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Creating a Knowledge Worker EconomyMarch 22, 2006

• Gerald Ephault, Regional Manager
• Pocono Northeast

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Overview

• Support entrepreneurs and established
  manufacturers
• Promote infrastructure initiatives
• State-funded
• Created in 1983
• Four centers statewide

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Services

• Links to research universities
• Links to venture capitalists and private
  investors
• Links to professional service providers
• Funding

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Project Selection Criteria

• Job creation and retention
• The opportunity for PA companies to achieve
  industry-leading positions
• Building PA's high-tech identity

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Developing Early-Stage Firms Ben Franklins Role

• Seed Capital
• Advanced Technology R D
• Strategic Business Advice / Mentoring
• Incubator Space
• Linkage to Other Resources

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Paperless Practice, Inc.Scranton

• BF Investment 2002-2005 430,000
• Founded to provide interactive marketing
  solutions to the optical market for eyeglass
  frame selection, color contact try-on, and
  targeted consumer advertising.
• With BFs strategic and marketing help, Winkcast
  systems now provide customers with
• An opportunity to gather information on products
  and services specific to their needs,
  simultaneous with
• An opportunity to collect real-time consumer and
  marketing information
• Winkcast also provides unique marketing and
  advertising tools to other industries
• Retail
• Lodging
• Banking

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Enhancing Established Manufacturers

• Process enhancement
• Product improvement
• Technology application
• Links to university research

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Noble Biomaterials, IncScranton

• Manufactures specialized textiles with
  anti-microbial, thermodynamic, and therapeutic
  uses for consumer, medical, and military markets
• BF investment 1995-2000 166,000
• Formed from merger of BF client Noble Fiber with
  BF client Sauquoit Industries
• One of Inc. magazines top 500 fastest-growing
  private companies
• Credits BF with 44 jobs created and 24 jobs
  retained
• X-Static product used by Johnson Johnson,
  Adidas, and Puma, and by NASA, the US Army and
  Marine Corps, and by Olympians in their apparel.

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BF Impact Since 1983, BF Northeast has

• Started 337 new companies
• Developed 580 new products processes
• Created 9,373 new jobs
• Retained 17,266 existing jobs

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BF Impact Statewide Nexus Study 1989-2001

• Boosted Pennsylvanias economy by 8 billion
• Generated 93,105 job-years at a cost to the
  Commonwealth of 3,342 per job-year
• Created jobs that paid 28 higher salaries than
  the average statewide salary
• Every public dollar invested in BFTP yielded
  nearly 23 of additional state income
• PA garnered more than 400 million additional tax
  revenue, far exceeding programs costs

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BF Investments in Northeastern Pennsylvania

• 19 County Region 1983-2005 588,015,213
• Investment of State Funds
  136, 676,903
• Private Sector , Schools, Federal, Other Match
  451,338,310
• 8 County Pocono Northeast Region
  75,981,717
• Investment of State Funds
  16,170,158
• Private Sector , Schools, Federal, Other Match
  59,811,559
• Pocono Region 2005 IMPACT Results Client Revenue
  Generated 161,595,070
• Client
  Capitalization 36,487,475
• Commercial Lenders 14,728,200
• Private Equity
  3,127,000
• Venture Capital 13,650,000
• Federal
  3,565,400
• Company Partners 1,416,875

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Northeast Region Investments

• ADVANCED FIBERS POWDERS
• AMERICAN AEROGEL
• AROMAWORKS
• CARBONDALE TECH TRANSFER CENTER
• CENTRE INGREDIENTS
• CHAPERONE TECHNOLOGIES
• DIGITAL AMPLIFIER
• ESU TECHNOLOGY TRANSFER CENTER
• GALAXY BRUSHES
• HAZLETON CAN-BE INCUBATOR
• IMBM UNIVERSITY OF SCRANTON
• INNOVATION CENTER _at_WILKES-BARRE
• INTELLIGENT ENERGY

• KOVATCH KME
• LEMARK, INC.
• LOCKHEED MARTIN
• MEGAPHASE
• NEPA KIZ
• PAPERLESS PRACTICE
• RCI WOOD PRODUCTS
• SCRANTON ENTERPRISE CENTER
• SKILL SURVEY
• SOLID CACTUS
• SUBSTITUTE PERSONNEL
• SOLUTIONS
• TMG HEALTH
• TOBYHANNA ARMY DEPOT
• TORRES TOWERS
• WORK PLAY NEPA

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Wall Street WestWorkforce Innovation in Regional
Economic Development (WIRED)

• Northeast PA as Back-up Center to NYCs Financial
  Sector
• 15,000,000 over 3 yr. period US Department of
  Labor
• 7,000,000 over 3 yr. period PA
• 22,000,000 Investment
• Gap Analysis Financial Sector e.g., Banking,
  Insurances, Industries
• Training Solution
• Curriculum Development
• Dual Enrollment Credit Program
• Internship KIZs Regional Education
  Partnership

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Jobs ThroughTechnology