$97,400 Investments in Established Manufacturers

BETHLEHEM, Pa. - July 8, 2015 - PRLog -- The Ben Franklin Technology Partners of Northeastern Pennsylvania (http://nep.benfranklin.org/)’s (BFTP/NEP) Board of Directors has approved the investment of $542,400in 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. To achieve this goal, Ben Franklin staff concentrate their efforts on three key areas:

1. developing and growing early-stage technology-oriented companies,
2. helping established manufacturers creatively apply new technology and business practices to achieve industry leadership, and
3. promoting an innovative community-wide infrastructure that fosters a favorable business environment for high-growth companies.

Since beginning operation, BFTP/NEP has helped to create 16,600 new jobs for Pennsylvania workers and to retain 22,958 existing jobs, to start 470 new companies, and to develop 1,356 new products and processes. Since 2007, BFTP/NEP clients have generated more than $1.357 billion in follow-on funding. The Pennsylvania Ben Franklin Technology Partners network (http://benfranklin.org/) has returned $3.60 to the state treasury for every $1.00 invested in the program. Ben Franklin Technology Partners is an initiative of the Pennsylvania Department of Community and Economic Development (http://www.newpa.com/) and is funded by the Ben Franklin Technology Development Authority.

BFTP/NEP owns and manages Ben Franklin TechVentures (http://nep.benfranklin.org/incubator-network/ben-franklin-techventures)®, an award-winning business incubator/post-incubator facility on Lehigh University’s campus in Bethlehem at which it is headquartered. BFTP/NEP also manages the Bloomsburg Regional Technology Center (http://nep.benfranklin.org/incubator-network/bloomsburg-regional-technology-center) in Bloomsburg.

Ben Franklin announces the following established manufacturer company investments. Ben Franklin provides 1:1 matching funding for work with a college or university partner on technology-based manufacturing innovation in established manufacturers.

Benton Foundry, Inc (http://www.bentonfoundry.com/)., Benton, Columbia County
College Partner: Northampton Community College’s Emerging Technology Applications Center
Ben Franklin Investment: $22,400
Implement energy saving processes as this producer of gray and ductile iron castings expands operations. Enhancements will continue to improve energy and operational efficiency, increase throughput, and heighten product quality to make the foundry more competitive.

East Penn Manufacturing Company (http://www.eastpenn-deka.com/), Lyon Station, Berks County
College Partner: Northampton Community College’s Emerging Technology Applications Center
Ben Franklin Investment: $25,000
Develop a complete analysis of recycling considerations at East Penn, especially as it relates to the growing need for new battery technology due to the growth in the hybrid electric vehicle market and other alternative energy uses. East Penn is a leading manufacturer and recycler of advanced lead-acid battery products, and the largest manufacturing employer in Berks County.

Giorgio Foods, Inc. (http://www.giorgiofoods.com/), Blandon, Berks County
University Partner: Lehigh University’s Enterprise Systems Center
Ben Franklin Investment: $25,000
Develop a facility planning scenario to help Giorgio optimize current and future facility utilization. Giorgio is a manufacturer of retail food products including appetizers and mushrooms, and various food service products such as pizza, mini- and full-size crescents, pierogies, quiche, frozen mushrooms, and Artisan bakery products.

Orbel Corporation (http://www.orbel.com/), Easton, Northampton County

University Partner: Lehigh University’s Enterprise Systems Center
Ben Franklin Investment: $25,000Implement a new Enterprise Resource Planning system at this manufacturer of customized electronic components such as precision metal parts and stampings for the medical, electronics, and aerospace markets. The system will improve operations, data governance, and operational effectiveness.