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Governor Corbett to Lead Mission to Silicon Valley to Attract New Investment and Jobs

Press Release

By:
Date:
Location: Harrisburg, PA

Continuing his commitment to job creation, Governor Tom Corbett will travel to the Silicon Valley next week to promote Pennsylvania as the location of choice to both major tech firms and emerging start-ups and to connect venture capitalists with homegrown entrepreneurs.

"My administration is working every day to bring new jobs to hardworking
Pennsylvanians and new opportunity to our entrepreneurs," said Corbett. "The
Silicon Valley represents a region of accessible potential for both."

Over the course of the two-day trip, Corbett and his team will meet with seven
firms employing more than 4,000 Pennsylvanians to discuss current operations and explore interest in future expansions. Additionally, the Governor's team will meet with 12 leading technology companies to explore innovations that can improve the cost effectiveness and quality of state government operations.

The Governor will highlight Pennsylvania's strong and diverse manufacturing base to venture capital groups, asking them to encourage their portfolio companies that are exploring U.S. production to consider locating in the commonwealth.

"Despite relentless worldwide challenges to U.S. manufacturing, Pennsylvania
continues to diversify and develop its manufacturing base -- which adds more than $70 billion in value each year to our state's economy," Corbett said. "In fact, we've seen the largest increase in manufacturing jobs in the state since 1991."

To capitalize on Pennsylvania's fast-growing start-up and technology industries,
Corbett will also look to establish expanded relationships with investors and key
venture capital organizations in the Silicon Valley. The Governor's mission will open the door to more than a dozen venture firms with over $20 billion in assets to new and emerging Pennsylvania start-up companies.

"It is critical for our start-ups and entrepreneurs to have the resources needed to develop ideas into production, job creation and ultimately a successful and growing business," said Corbett. "New business growth equals jobs for our citizens."

Representatives from Carnegie Mellon University and the Pittsburgh Technology
Council will join Corbett on the mission along with 15 entrepreneurs. These
Pennsylvania firms will have the opportunity to participate in a full day of meetings with key venture capital firms in the Silicon Valley.

"Those of us going on this trip are excited to have a chance to show off what we've
built to start-up centers across the nation," said Eric Silver, founder and CEO of
Webkite. "I'm deeply impressed by the responsiveness of Governor Corbett, the
Pittsburgh Tech Council, and Carnegie Mellon University, by building bridges
between Pittsburgh and the Silicon Valley. These efforts increase our ability to raise money and to create jobs and companies in Pennsylvania."

Secretary C. Alan Walker of the Department of Community and Economic Development (DCED) and Secretary Kelly Powell Logan of the Office of Administration will also join the mission. The mission was organized through
collaboration between DCED, Carnegie Mellon University and the Pittsburgh Tech Council.

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