Governor Tom Wolf visits Ben Franklin campus
Pennsylvania Governor Tom Wolf paid a visit to Bethlehem’s South Mountain Ben Franklin Tech Ventures business incubator campus Jan. 12 in an effort “to learn more about what is going here.”
Citing the state funding supporting the four technology centers located in Pennsylvania, Wolf noted the state government’s commitment through the provision of start-up funding “for smart people to start businesses that create jobs.
“For each one dollar invested, $3.60 comes back to the state treasury,” Wolf said.
Accompanied by Ben Franklin President and CEO R. Chadwick Paul Jr., the governor first viewed a brief video outlining the Ben Franklin Tech Ventures history since its 1983 founding before touring the facility.
Wolf then met with representatives from four of the incubator clients including Colymer Industries LLC who developed Tarzanite, a waterproofing material with roofing and paving applications; Orbweaver Sourcing LLC, developer of direct purchase order automation software; U.S. Specialty Formulations LLC, a manufacturer of sterile injectable pharmaceuticals; and TB Biosciences Inc., a medical diagnostics company.
Wolf ended his visit with a question and answer period with local media. During that session he said the state needs to support good entrepreneurs.
“The state shouldn’t do too much,” Wolf said, “but we can nudge those who work in the market by providing encouragement through seed money.”
Ben Franklin Tech Ventures is one of the largest business incubator networks in the United States and since its founding in 1983 has graduated 64 successful companies which have created more than 6,400 jobs and grossed over $1.2 billion in revenue last year.