Ben Franklin Tech Partners Announces Northeast Investments

The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors has approved the investment of $357,100 in support of regional economic development. BFTP/NEP’s goal is to help lead northeastern Pennsylvania to a better economic future by building partnerships that develop and apply technology for competitive advantage.

Ben Franklin seeks to develop and grow early-stage technology-oriented companies, help established manufacturers creatively apply new technology and business practices to achieve industry leadership, and promote an innovative community-wide infrastructure that fosters a favorable business environment for high-growth companies.

Since beginning operation, BFTP/NEP has helped to create 16,214 new jobs for Pennsylvania workers and to retain 22,155 existing jobs, to start 458 new companies, and to develop 1,279 new products and processes.

Ben Franklin is providing loans as early-stage investments to the following companies:

• HB Custom Media, Inc., Ben Franklin TechVentures, Bethlehem, Northampton County
• Medtrics Lab, LLC, Lewisburg, Union County
• Skaffl, LLC, Ben Franklin TechVentures, Bethlehem
• TSG Software, Ben Franklin TechVentures, Bethlehem, Northampton County
• Virterras Foods, Moosic, Lackawanna County

Ben Franklin is also investing in the following established companies:

• B. Braun Medical, Inc., Allentown
• Custom Processing Services, Inc., Reading, Berks County
• A. Rifkin Company, Wilkes-Barre, Luzerne County
• Simplex Industries, Inc., Scranton, Lackawanna County