PIDA - Advanced Technology Designation
PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY (PIDA) ADVANCED TECHNOLOGY DESIGNATION
A company will be deemed to qualify as "advanced technology" for the purpose of the department's business financing programs if it meets one of the following criteria:
* The company qualifies under "Operation Magnet" as described in the Tech 21 report. This designation would be made by the Governor's Action Team.
The company falls within the SIC Codes defining "high-tech" as described by the American Electronics Association in its Publication, Cybernation, as those codes are further augmented by the WEFA Group.
* The company is able to respond affirmatively to at least four of the seven questions contained on the Technology Review Form. The form is available upon request.
"Operation Magnet"
"Operation Magnet" would identify for attraction or expansion those companies that can serve as anchor firms for technology development throughout Pennsylvania.
Team Pennsylvania should target its efforts on firms that have the capability to spawn and anchor emerging technology clusters.
Team Pennsylvania should partner with the state's major technology companies, utilities, technology councils, Ben Franklin or IRC Centers, universities, or other development organizations in its attraction and business development activities.
Anchor firms should be used to assist in attracting similar high tech companies to a region.
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