Rendell Administration Announces $525,000 in Funding for Technology Projects

Mar 28, 2005, 00:00 ET from Pennsylvania Department of Community and Economic Development

    HARRISBURG, Pa., March 28 /PRNewswire/ -- On behalf of Governor Edward G.
 Rendell, Department of Community and Economic Development Secretary Dennis
 Yablonsky today announced $525,000 in funding by the Ben Franklin Technology
 Development Authority (BFTDA) to support the Governor's technology-focused
 economic development strategy.
     "Providing funding for technology-based initiatives and projects is a
 smart investment for Pennsylvania and its economy," said Secretary Yablonsky.
 "The programs approved today will support the Commonwealth's emerging small
 businesses, universities and communities.  These programs will not only
 enhance partnerships with new, hi-tech businesses, but will also create new,
 quality jobs for Pennsylvanians."
     The BFTDA is a state-funded network dedicated to fostering technology
 innovation, strengthening the Commonwealth's economy and creating and
 retaining high-salary jobs that require advanced skill levels.  The BFTDA
 provides funding for a host of technology initiatives and supports four Ben
 Franklin Technology Partners throughout Pennsylvania that identify the most
 promising technological ventures and support them with technical assistance
 and capital.
     The following projects were approved by the BFTDA:
     Navy Yard Keystone Innovation Zone: The Philadelphia Industrial
 Development Corporation was awarded $100,000 for operating costs related to
 the Navy Yard Keystone Innovation Zone, bringing the number of approved KIZs
 to 13.  Partnering with the Penn State University Applied Research Lab, Drexel
 University, the Collegiate Consortium for Workforce and Economic Development
 and the Naval Sea Commands Philadelphia Shipyard Systems Engineering Station,
 the Navy Yard KIZ will concentrate on technologies in the physical and
 engineering sciences with a specific focus on materials processing and power
 and energy.  The Navy Yard KIZ will also collaborate with the established
 University City KIZ to assist early-stage companies in the life sciences
 industry by offering additional suitable space for growth and expansion in the
 City of Philadelphia.
     Pennsylvania NanoMaterials Commercialization Center: The Pittsburgh
 Technology Council was awarded $200,000 in funding for the establishment of
 the Pennsylvania NanoMaterials Commercialization Center.  The Center will
 focus on ensuring that Pennsylvania is the market leader in the research and
 production of new products and technologies related to nanomaterials.  The
 Center will develop and commercialize innovative solutions to meet the current
 and future needs of the nanomaterials marketplace, which includes polymer
 system enhancements, coatings, sensors and films applications.  The
 NanoMaterials Commercialization Center will bring together a cooperative of
 companies and universities across the Commonwealth like PPG, Bayer
 MaterialScience, U.S. Steel Corporation, and Alcoa, Inc., Carnegie Mellon
 University and Penn State University, as well as long-standing players in the
 Pennsylvania Initiative for Nanotechnology (PIN).
     In an effort to ensure that the Commonwealth's companies are positioned to
 continue their leadership in the field of nanomaterials research, the Center
 will also work to become a federally funded center through the National
 Nanotechnology Initiative (NNI).  Led by the National Science Foundation and
 the White House Office of Science and Technology Policy, the NNI is designed
 to coordinate nearly $1 billion in nanotechnology research across 18 federal
     Tri-County Technology Infrastructure: Pocono Mountains Industries was
 awarded $225,000 for the Tri-County Infrastructure project.  In cooperation
 with the Colonial Intermediate Unit, the Pocono Mountains Industries will use
 the funds to expand the telecommunication infrastructure throughout Monroe,
 Pike and Northampton counties.  This investment will help deliver new or
 enhanced broadband access for several business parks and commercial locations
 in underserved or disadvantaged areas.  This project will also ensure
 broadband access for all students K-12 in the Pocono Mountains region, as well
 as for the public safety, healthcare, local government and non-profit
     Governor Rendell's economic stimulus package contains several programs
 that focus on technology development including the New Pennsylvania Venture
 Capital Investment Program, Second Stage Loan Guarantee, the New Pennsylvania
 Venture Loan Guarantee Program, Keystone Innovation Zones and the Research and
 Development Tax Credit and its tradability.  These programs focus investment
 in new high-growth companies and channel support and funding for companies to
 expand, create jobs and retain Pennsylvania's talent.
     For additional information on any of the stimulus package programs, please
 visit or call 1-866-GO-NEWPA (1-866-466-3972).
     CONTACT:  Neil R. Weaver, Pennsylvania Department of Community and
 Economic Development, +1-717-783-1132.

SOURCE Pennsylvania Department of Community and Economic Development