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

News provided by

Pennsylvania Department of Community & Economic Development

Aug 09, 2012, 01:30 ET

HARRISBURG, Pa., Aug. 9, 2012 /PRNewswire-USNewswire/ -- 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.

Editor's Note: Governor Corbett's itinerary for the Silicon Valley Mission is below.

Tuesday, Aug. 14

Welcome meeting with Audrey Russo, CEO of the Pittsburgh Technology Council and the participating Pennsylvania entrepreneurs.
Meeting with company executives from Google to discuss the company's presence and experience in Pennsylvania.
Meeting at investment firm, Kleiner Perkins Caufield & Byers, to discuss opportunities in Pennsylvania for venture capital investments.
Meeting with company executives from Facebook to discuss potential opportunities in Pennsylvania.
Roundtable discussion with technology growth advocacy groups, TechNet and Tech America.
Summit at Electronic Arts (EA) that will serve to connect emerging Pennsylvania gaming companies with EA and members of the Electronic Software Association.
NASDAQ reception with potential investors and the participating Pennsylvania entrepreneurs.

Wednesday, Aug. 15

Tour of Pittsburgh-based Carnegie Mellon University's California campus at the NASA Research Park.
Meeting with company executives from Hewlett Packard to discuss potential opportunities.

Participating Pennsylvania Entrepreneurs