Watch Team PA Foundation’s Co-Chairs address to our board and investors during the 10th Anniversary Celebration.


Watch Mike Rossman, Director of GAT award Team PA Foundation’s Harley Davidson at this year’s CoreNet Global Conference!

Team PA Foundation turns 10!
With the support and leadership of our board, investors and staff, the last ten years has seen the Team Pennsylvania Foundation grow to become a keystone of strategic and functional economic development in Pennsylvania, and each year it builds on a legacy of great successes that have positively affected the economy of the entire Commonwealth.

Along with current and past board members, investors, and our co-chairs, Governor Rendell and ASK Foods, Inc. CEO Wendie DiMatteo Holsinger, we recently celebrated our tenth anniversary by gathering to honor the achievements of the past decade, and at the same time reaffirming our commitment to continue to make a contribution toward a strong and growing Pennsylvania economy in the decade to come.  

Check out pictures from the event and review a 10 year Team PA Foundation timeline at www.teampa.com

Thanking those that invest in the future of Pennsylvania.

Join us in thanking a recent investor in the Team PA Foundation, Air Products and Chemicals, Inc. for their contribution to the Foundation.  

Headquartered in Allentown, Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services.  Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives.  The company has annual revenues of $9 billion, operations in over 40 countries, and over 20,000 employees around the globe.  For more information visit www.airproducts.com.  

Global Competitiveness Initiative – Update
Team PA Foundation, in partnership with DCED, has been hard at work implementing and communicating the findings of the most recent phase of the IBM Global Competitiveness Initiative.  DCED officials have been traveling throughout the state giving a detailed briefing on the regionally pertinent findings of the initiative.  They have also been developing a process to grant access and license to regional partners to download and use the data within the initiative, and a companion grant program to financially support regional strategic economic development marketing that aligns with the findings of the Global Competitiveness Initiative.

A more than one million dollar investment of the Foundation, the Global Competitiveness initiative is a key component of DCED’s transformation of the economic development delivery system in Pennsylvania.  Read the executive summary of the latest phase of the Global Competitiveness Initiative on the NewPA website here.



Team PA Supported Project Wins Award
A vital job creation and retention project in southwestern Pennsylvania won the Economic Development Deal of the Year award from a national business magazine for business site selection executives, the Department of Community and Economic Development said recently.

The Westinghouse Electric Company project in Butler County won the Gold medal in Business Facilities magazine’s EDDY awards for 2007.    KPMG tax analysis provided by the Team PA Foundation was critical to Westinghouse’s choice to stay and expand into PA.  This new Westinghouse facility in Butler County is expected to create 931 jobs, with a total project investment of more than $200 Million.



Team PA Aids in Bringing New Plant to SWPA. 
$43 Million Project will Create, Retain 737 Jobs in the commonwealth

Another successful outcome of the Team PA Foundation’s provision of tax analysis support to clients of the Governor’s Action Team, Johnson Mathey, a world leader in emission control catalyst technology will build a state-of-the-art emission control catalyst plant in Fayette County, creating 110 high-paying advanced manufacturing jobs within three years.  The Governor’s Action Team stated that Team PA Foundation’s support through our tax analysis was critical to Johnson Mathey choosing PA for its newest expansion.

As part of its commitment to PA, Johnson Matthey Inc. will retain 627 positions at its the North America regional headquarters (Emission Control Technologies) in Wayne, Chester County.  The company’s new plant, which will produce more than one million selective catalytic reduction units per year, is expected to be operational by the end of 2009. The total cost of the project will be $43 million.

Johnson Matthey’s 118,000-square-foot manufacturing facility will produce selective catalytic reduction catalysts that reduce emissions of nitrogen oxide from heavy-duty diesel vehicle exhaust. The catalysts will comply with 2010 U.S. Environmental Protection Agency air quality regulations.

Johnson Matthey is a specialty chemicals company organized into three global divisions: Environmental Technologies, Precious Metal Products and Fine Chemicals & Catalysts. Headquartered in the U.K., the company has operations in more than 30 countries and it employs 7,800 worldwide. To learn more, visit www.matthey.com.



Foundation supports VC firm backed sale for $190 Million.
One of Team PA Foundation’s successful investments in PA Focused VC firms was its investment in Draper Triangle Ventures.  Draper has recently announced that one of the companies in their portfolio of investments has been purchased by a German firm for a total of $190 Million.

As reported in the Pittsburgh Post-Gazette: “Renal Solutions Inc., the Marshall-based provider of dialysis products, is being sold to a German firm that hopes to use its technology to develop wearable kidneys.  Fresenius Medical Care, a subsidiary of Fresenius SE, agreed to pay up to $190 million for Renal Solutions over a period of three years. It also will assume approximately $10 million of debt. Peter M. DeComo, Renal Solutions president and chief operating officer, will continue to lead operations both here and in the company's Oklahoma City office.

Renal Solutions specializes in the field of "sorbent dialysis therapy." Current dialysis procedures use an artificial kidney that requires large volumes of purified water to operate, typically hundreds of liters. Renal Solutions has developed a chemically treated cartridge to be used in conjunction with the artificial kidney that absorbs contaminants in ordinary tap water, making it usable for dialysis. That reduces the amount of water needed to a mere 1.5 gallons, or six liters, per treatment.

The sale of Renal Solutions also is a landmark for the Pittsburgh Life Sciences Greenhouse, the public/private partnership formed in 2001 to nurture biosciences companies in southwestern Pennsylvania. After Renal Solutions moved to Pittsburgh from East Lafayette, Ind., in 2002, the Greenhouse made a $90,000 investment in the company, making it the first holding in the Greenhouse's portfolio. At the time, Mr. DeComo was the only employee. Now Renal Solutions employs 38 locally, 22 in Oklahoma City, and eight sales representatives scattered across the country.”



PA Focused VC Firm Changes Name
PA Early Stage Partners, a venture capital firm that makes investments in early stage technology and life sciences companies, recently announced it is officially changing its name to Novitas Capital. The name change is designed to better reflect the firm's focus and reach. Taken from Latin, Novitas means "new", "original", and "novel," which aptly describes the essence of the pioneering companies in which the firm invests and supports.

Team PA Foundation began Pennsylvania’s current foray into funding venture capital investment firms in 1999, when it invested in PA Early State and 2 other Pennsylvania focused VC firms.  Our investment has proved a success in more ways than one, as highlight in a recent report commissioned by the National Venture Capital Association (NVCA), Pennsylvania ranked 3rd among states in employment at VC backed companies headquartered in the state with 697,600 total employees.

Novitas Capital has a strong history of successful portfolio company liquidations, including: Traffic.com, a leading provider of personalized digital traffic information for drivers coast-to-coast , which went public in January 2006 and was subsequently acquired in March 2007 by Navteq (NYSE: NVT) for approximately $177 million; AANetcom, a fabless semiconductor company, which was acquired by PMC-Sierra (Nasdaq: PMCS) in a transaction valued at approximately $900 million; OraSure Technologies (Nasdaq: OSUR), a leader in oral fluid diagnostics, which merged with a publicly-traded company in a stock deal valued at approximately $255 million; and Half.com, a leading exchange that connects buyers and sellers, which was acquired by eBay (Nasdaq: EBAY) in a transaction valued at approximately $300 million.  Novitas currently has approximately 30 active portfolio companies and $237.5 million under management across three venture capital funds.



PA Outscores Nation on Latest Education Report Card
Pennsylvania ranks 10th in the nation in education performance and policy, earning an overall grade above the national average, according to the latest "Quality Counts" report released on January 9th by Education Week.

Education Secretary Gerald L. Zahorchak said the grade shows Pennsylvania is making strides in bolstering public education and better preparing its students, but more work remains to ensure all students leave high school with the skills needed to compete in the global economy.

The comprehensive annual report awarded a grade of B- to Pennsylvania, compared to the national grade of C. Pennsylvania outperformed the nation in five of the six grading categories and 14 of the 17 graded criteria.

"Too many of our high school graduates are ill-prepared for the demands of life after high school, whether they go on to college or enter the workforce," Zahorchak said of the need for high school graduation requirements, which was the subject of a State Board of Education public hearing today. "This often puts them at a lifelong disadvantage, limiting their opportunities and the lifelong earnings capacity. We owe it to them, and to the commonwealth, to make sure they emerge from high school ready to succeed."

Team PA Foundation is engaged in the largest education initiative in its history, the Science Technology Engineering and Math Center Initiative, which is a $500,000 grant to ensure PA's education system is competitive in these key fields.  The STEM Center Initiative is in partnership with the PA Departments of Education, Community and Economic Development, Labor and Industry, and Environmental Protection.  Read more about the leadership and goals of this program here.

For more information on the Department of Education and its initiatives, visit www.pde.state.pa.us.

QUICK NEWS & POINTS OF INTEREST

STAFF UPDATE: Join us as we welcome two new staff members.  Ms. Caroline Blose has joined the Foundation as the Finance Manager.  Caroline has replaced Karen Reside, who has left the Foundation to pursue her educational goals.  Our second new staff member is Ms. Tanza Pugliese has joined us as the STEM Grant Manager after finishing her master's degree in international development from the University of Pittsburgh.  Ms. Pugliese will be managing the Science, Technology, Engineering, and Math (STEM) Initiative in partership with the National Governor's Association.


Team Pennsylvania Foundation in Perpetuity…
Would you like to guarantee the future of the Foundation?
Do you have assets that are no longer producing for you?
Do you have a life insurance policy that is no longer needed?
Would you like to make a generous gift to Team Pennsylvania Foundation without using any of your current income?

If you answered yes to any of these questions, you may want to learn more about making a planned or “deferred” gift to the Team Pennsylvania Foundation. A planned gift allows you to make a gift later if you are not able to give one now, or you can make a final gift after a lifetime of giving. 

Charitable gift planning can be as simple as leaving a specific dollar amount or percentage of your estate in your will. Other planned giving options include charitable trusts and annuities, life insurance policies, gifts of appreciated stock or real estate, to name a few.   Many planned giving vehicles offer excellent financial rewards by providing the donor with tax savings and lifetime income while providing a significant contribution to the charity. 

Talk with your professional financial or legal advisor about designing your legacy, large or small, that will represent your philanthropic desires or contact Linda Jackson, Director of Resource Development.



Represented in the check presentation photo are from left to right Mayor of Erie Joe Sinnott,  Thomas B. Hagen, Owner / Chairman Custom Group Industries and Team Pennsylvania Foundation Board Member, Matt Wiertel, 2008 ImPAct Conference Co-Chair, Rich Hudic, President / CEO Team Pennsylvania Foundation, and Fasy Greevy, President of Young Erie Professionals.

Team PA Foundation awards 2008 YP Conference
In late 2007, Team PA Foundation awarded a $10,000 sponsorship of the 2008 PA Young Professionals (PAYP) Conference.  The Conference, to be held in Erie, PA from September 12th through 14th at the new Bayfront Convention Center is expected to draw hundreds of young leaders from across the Commonwealth.  Watch the video of the check presentation in Erie. For more information on the upcoming PAYP Conference to be held in Erie, please visit the website here.


Team PA Foundation Board Member on CNBC
During the holiday season of 2007, Team PA Foundation board member David Jaindl owner of Jaindl Farms was interviewed and highlighted on CNBC.  Watch David Jaindl on CNBC here.

Business Opportunities from Abroad
The Commonwealth's Office of International Business Development has provided us with business lead opportunities discovered by PA's international representatives.  These leads include businesses that may be interested in locating in, investing in, or trading with, businesses located in Pennsylvania. For descriptions of this recent activity and to read more about the opportunities that may be available for your business, read more here.

NW Tech Council receives grant from GE
GE Transportation Systems has made a charitable contribution to the Northwest Technology Council in the amount of $50,000.  This will help ensure that the Great Lakes Industrial Technology Summit and the scholarship mission is a success during 2008. 

The NW Tech Council was presented with the check at a press conference on January 10th, 2008 at the Bayfront Convention Center. Team Pennsylvania Foundation is a Founders Circle member of the Tech Council.  For more information on the programs of the NW Tech Council, visit their site here.