Business Facilities - March 2009 - (Page 32)

BUSINESS REPORT Pennsylvania One of the newly announced projects include DreamIt Ventures II & III L.P., Philadelphia, which received $250,000 through the Venture Capital Investment Program to make investments in 20 to 30 preseed companies that are developing new-generation technology companies in the Philadelphia region. BFTDA provides funding to the Ben Franklin Technology Partners, a widely known and emulated state technology-based economic development program. For 25 years, the program has invested in more than 3,000 companies in the technology-driven fields of information tech, biotech, nan- otech, electronics, communications, advanced manufacturing, advanced materials and alternative energy and green technology. A recent study released by the Pennsylvania Economy League, an independent, nonpartisan, nonprofit, public policy research and development organization, shows that between 2002 and 2006, this program helped boost the state economy (gross state product) by $9.3 billion and created thousands of new high-tech jobs. Because of its success, Ben Franklin Partners was awarded the International Economic Development Council’s (IEDC) Technology Based Economic Devel- opment Award in October 2008. NEW PROJECTS PROLIFERATE Pennyslvania’s Governor’s Action Team (GAT) was established in 2003 to help domestic, international companies or site consultants consider Pennsylvania as a potential site for facility location or expansion. Since then, the program has successfully completed 1,093 projects statewide, which represent commitments for 116,013 new jobs and 265,917 retained jobs. In addition, the commonwealth has offered more than $2.1 billion in funding to these projects, which will leverage more than $13.9 billion in additional investment. B Berks County: Scenic Hub for Industry and Trade 32 MARCH 2009 erks County, situated in southeastern Pennsylvania, is an urban area of 401,149 people (2006). At the epicenter of the county is the city of Reading, located 56 miles northwest of Philadelphia and in the heart of the Delaware Valley region, one of the leading industrial and trade complexes in the nation. Despite its consideration as part of the Philadelphia combined statistical area, Berks County is considered part of Pennsylvania’s Dutch Country and is rich in history, scenery and natural resources. The region includes the Blue Mountain and Great Valley regions of the Valley and Ridge Province, the Reading Prong region of the New England Province, and the Triassic Lowland of the Piedmont Province. According to the Berks Economic Partnership, the Greater Reading and Berks County region is an attractive place for companies due to its strategic east coast location, with access to more than 100 million people. It is within a day’s drive of more than one-half of the U.S. population and its transportation corridors link it to other major cities such as New York (125 miles) and Baltimore (97 miles). “From a total package perspective, Greater Reading is an attractive place for companies that are relocating or expanding their business,“says Jon Scott, president and CEO of Berks Economic Partnership. “Site selectors, commercial and industrial real estate specialists, developers, and corporate relocation experts look closely at a number of factors before deciding on a location. We have numerous reasons why the area is ripe for an economic boom.” These reasons include a lower

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Business Facilities - March 2009 Contents First Word Snapshots Corporate Moves: Tennessee Deciphering High-Tech Hubs Industry Focus: Biotech/Pharmaceuticals The Lone Star State Continues to Burn Brightly Pennsylvania is Holding Its Own Corporate Moves: Florida Metro Spotlight: Findlay, OH Advertiser Index Ask the Expert

Business Facilities - March 2009

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