Economic Impact of Ben Franklin Technology Partners

The Economy League of Greater Philadelphia was commissioned by Ben Franklin Technology Partners to conduct an independent, objective evaluation of the economic impact of their program. The report, "A Continuing Record of Achievement: The Economic Impact of Ben Franklin Technology Partners 2002 - 2006," has been released. Among the findings:

* BFTP boosted the Pennsylvania economy (Gross State Product) by $9.3 billion from 2002 through 2006, or $8.7 billion after adjusting for inflation.
* Since 1989, BFTP has boosted the state’s economy by more than $17 billion.
* From 2002 though 2006, the Commonwealth received more than $517 million in additional state tax revenues as a direct result of BFTP. That represents a 3½-to-1 payback to the state on its $140 million investment during the same period.
* From 2002 through 2006, BFTP generated 10,165 additional job-years* in client firms.
* Client impacts ripple throughout the Pennsylvania economy, contributing to higher Gross State Product and additional employment across the state. From 2002 through 2006, BFTP generated an additional 22,667 job-years in the state beyond those in client firms.
* BFTP produced a total of 32,832 job-years in the Commonwealth between 2002 and 2006 that otherwise would not have existed.
* Since 1989, BFTP has generated 45,667 additional job-years in client firms.
* Since 1989, BFTP generated 80,160 additional job-years beyond those in client firms, for a total of 125,827 additional job-years.

* Job-years are equivalent to the number of years of full-time work created by the program. For example, if a BFTP client firm employed three more workers for five years as a direct result of the program, that is expressed as 15 additional job-years

The full report and a 3 page executive summary are available on the Economy League's webpage.