Advancing Pennsylvania’s Entrepreneurial and Innovation Economy
The Department of Community and Economic Development is focused on growing the economy of Pennsylvania. The Department recognized a need for external resources to support their work.
The Department is working to restore funding to the programs that support entrepreneurship and innovation-based economic development, but lack political support to do so. Existing assets include a legacy of solid programs, such as the statewide Ben Franklin Network. PA DCED engaged Fourth Economy to produce wide-ranging benchmark data to illustrate where the state is positioned relative to other states in its innovation and entrepreneurial activity. The findings demonstrated that the state has been losing ground over the past decade at the same time as significant budget cuts were implemented.
Fourth Economy conducted an initial data analysis, and then held two convenings with over 50 entrepreneurial and innovation-focused stakeholders. These Build Sessions were designed to create actionable strategies to reestablish a commitment to PA’s innovation and entrepreneurial economy and improve the state’s competitive position.
The final report was released by Governor Wolf in January of 2020 in conjunction with his announcement of a $14.3M proposal to begin implementation of the PA Innovation Plan, which addresses identified recommendations in the report.
Economic Development Strategy