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Boscola Announces $1.5 Million State Grant for Local Project
On October 3, 2016 ·
Bethlehem – October 3, 2016 – State Sen. Lisa M. Boscola today announced a 1.5 million state grant to build a 14,500 square-foot addition to the west end of the Ben Franklin TechVentures facility on Research Drive in Bethlehem.
“I am pleased that state dollars were available to help advance this local economic development effort,” Boscola said. “I will continue to seek state support for worthy local projects that stoke business investment and create good jobs.”
Boscola said the four-floor addition will include business incubation, office and meeting space for early-stage technology-oriented companies. These spaces will complement the existing wet labs and address the expanding office needs of current residents.
She said the grant was awarded to the Ben Franklin Technology Partners of NE PA. The grants are administered through the Redevelopment Assistance Capital Program (RACP) administered by Gov. Tom Wolf’s Office of Budget; and can be used for acquisition and construction of economic development projects in a number of categories including cultural, civic, recreation and historical.
“I am proud to support our state’s continued investment in Ben Franklin-Tech Ventures,” Boscola said. “This partnership has provided Pennsylvania taxpayers a substantial return on investment. Since 1983, the Ben Franklin Technology Partnership of Northeastern Pennsylvania has created over 16,000 jobs, started 470 companies and developed over 1300 new products or processes. Investing in incubator and post-incubator space like this is one of the best ways the Commonwealth can partner with the private sector to encourage entrepreneurship and lay the groundwork for building a better tomorrow.
“These RACP grants are a good way to move worthy construction projects forward,” Boscola said.
# # #
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