Ben Franklin to Invest $75,000 In Established Manufacturers

BETHLEHEM, Pa. - Oct. 15, 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 $75,000in 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. BFTP/NEP clients have generated $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.

Bosch Rexroth Corporation (http://www.boschrexroth-us.com/), Bethlehem, Northampton County
University Partner: Lehigh University’s Enterprise Systems Center
Ben Franklin Investment: $25,000
Develop and implement a process to automate data collection that will drive process improvements and enable predictive maintenance for machining centers throughout the company. Bosch Rexroth manufactures motion control equipment, including hydraulic and pneumatic components.

Prizer-Painter Stove Works, Inc (http://www.bluestarcooking.com/)., Reading, Berks County
University Partner: Lehigh University’s Enterprise Systems Center
Ben Franklin Investment: $25,000
Improve factory flow and efficiencies at a new building purchased by Prizer-Painter Stove Works to accommodate rapid increases in demand. Prizer-Painter Stove Works manufactures high-end cooking equipment under brands like BlueStar, Prizer Hoods and Big Chill.

Simplex Homes, Inc. (http://www.simplexhomes.com/), Scranton, Lackawanna County
University Partner: Lehigh University’s Enterprise Systems Center
Ben Franklin Investment: $25,000
Complete the implementation of AutoCAD 3D and map, analyze, and further automate and improve current production processes to increase throughput. Simplex is a regional leader in high-quality modular home construction and is positioning itself as an industry-leading builder of energy efficient homes. The company built a prototype Net Zero house that is both environmentally friendly and economically prudent for homeowners.