The latest news from academia, regulators
research labs and other things of interest
Posted: May 23, 2008
Pennsylvania Laying Groundwork For Nanotechnology As Economic Driver, DCED Official Says
(Nanowerk News) Pennsylvania is
helping prepare the groundwork for a new nanotechnology economy, a top
Rendell administration economic development official told attendees
yesterday at the "NANO for Business 2008" conference in Breinigsville,
Department of Community and Economic Development Deputy Secretary
Rebecca Bagley said an AeA (formerly the American Electronics Association)
report ranked Pennsylvania as the nation's 7th largest "cyberstate." The
commonwealth showed significant growth in high-tech services and employed
210,000 high-tech workers with a total payroll of $15.1 billion in the
reporting period, 2005 - 2006, according to the report.
AeA, a nationwide non-profit trade association that represents the
technology industry, also said venture capital investments in Pennsylvania
totaled $835 million in 2007, ranking Pennsylvania 6th in the nation.
Bagley oversees DCED's Technology Investment Office, which manages the
commonwealth's venture capital initiatives, including the New PA Venture
Capital Investment Program, which provides funding to venture capital fund
managers to, in turn, invest in early-stage companies; and the New PA
Venture Guarantee Program, which provides loan guarantees to venture
capitalist companies for investments in technology companies.
"The findings presented by AeA reconfirm our efforts," Bagley said.
"Pennsylvania's economic climate is attracting new tech businesses and
putting a new generation of Pennsylvania's skilled employees to work. Our
high-tech sectors are the cornerstone of our growth, and the tech industry
is attracted to Pennsylvania because of the quality of our workforce, our
world-class universities, strong economic development programs and the
economic climate we're creating.
"Pennsylvania has been at the cutting edge of nanotechnology for
several years through our Pennsylvania Nanotechnology Initiative," Bagley
The commonwealth has invested $68 million in nanotechnology research
and commercialization partnerships through PIN, including the Materials
Research Science and Engineering Center at Lehigh University.
Bagley also credited the Keystone Innovation Zone (KIZ) program,
launched as part of Governor Rendell's original economic stimulus package,
as a contributor to the state's growing complement of high-tech workers,
including the Lehigh Valley's success as a high-tech center. The Southside
Bethlehem KIZ, which counts Lehigh University as a major partner, so far
has created 10 companies with 117 new jobs in the life sciences, advanced
electronics, information technology and advanced materials and
manufacturing fields, and is host to 42 patents.
Through Pennsylvania's 29 KIZs, post-secondary schools partner with
local industry, economic development organizations and others to encourage
and support entrepreneurs. The program provides a climate for developing
and taking new technologies to market, and for keeping graduates of
Pennsylvania colleges here, Bagley said.
The NANO for Business 2008 conference was sponsored by the Lehigh
Nanotech Network, Lehigh University's Center for Advanced Materials and
Nanotechnology, the Manufacturers Resource Center, the Workforce Investment
Board and other regional stakeholders.
Source: Pennsylvania Department of Community & Economic Development