Governor Shapiro Proposes $50M PA Innovation Program for 2025-26 Budget

Pennsylvania's Bold Step Towards Innovation and Economic Growth

In a strategic move to bolster the state's economic landscape, Governor Josh Shapiro has laid out an ambitious budget proposal for 2025-26. This plan includes a substantial $50 million investment dedicated to the newly established PA Innovation program, positioning Pennsylvania as a frontrunner in innovation and economic development.

State College, PA – On a recent visit to Atlas Biotech, officials from the Department of Community and Economic Development, led by Secretary Rick Siger, emphasized the Shapiro Administration's dedication to nurturing Pennsylvania's innovation ecosystem. The budget introduces a one-time $30 million initiative aimed at accelerating job creation in the life sciences sector, alongside $20 million to fuel large-scale innovation projects annually.

"The Shapiro Administration is laser-focused on advancing Pennsylvania’s innovation economy," Secretary Siger stated, recognizing Atlas Biotech's pioneering contributions to cancer treatment research. "From our world-class research institutions to our skilled workforce, Pennsylvania has the resources to be an innovation leader. Which is why we’re doubling down on this commitment in Governor Shapiro’s 2025-26 budget proposal with a new, $50 million innovation fund that will support businesses like this that save lives and strengthen our economy."

Atlas Biotech, a promising startup founded in 2023 and based in State College, is at the forefront of enhancing personalized cancer therapies. Their innovative drug screening platform is designed to identify drug resistance mutations, accelerating the development of targeted cancer treatments. The company has previously benefited from a $100,000 investment by the Commonwealth, through the Ben Franklin Technology Partners of Central and Northern Pennsylvania.

Josh Reynolds, CEO of Atlas Biotech, praised Pennsylvania's supportive environment for startups, stating, "It is a fantastic time to be building a company in Pennsylvania, with the state investing in exciting ideas and innovative young companies. As Pennsylvania continues to cement its position as a national leader in biotechnology and manufacturing, I hope Atlas can contribute to the mission of building a stronger Commonwealth and a healthier America."

Representative Paul Takac expressed his endorsement of the proposed economic plan, noting, "As someone who spent much of my career in business and technology, I understand the power of both innovation and strategic investments. That is why I stand in full and enthusiastic support of Governor Shapiro’s economic development plan, including his proposed $50 million PA Innovation program to help grow our economy, create jobs, and improve the lives of every Pennsylvanian."

Representative Scott Conklin highlighted the role of Atlas Biotech in advancing healthcare, stating, "We are fortunate to have an innovative company like Atlas Biotech in our community. Their work with academic labs like those at Penn State and pharmaceutical companies across the country will help us to fight diseases such as cancer."

Steve Brawley, CEO of Ben Franklin Technology Partners of Central and Northern PA, emphasized the importance of ongoing support for innovation, saying, "We’re incredibly excited about the potential of Josh’s technology and his commitment to translating the groundbreaking research happening every day at Penn State into real-world solutions."

Governor Shapiro's 2025-26 budget not only focuses on the life sciences but also includes significant investments such as $10 million for AdvancePA tax credits to generate high-quality jobs, $12.5 million for WEDnetPA to address workforce gaps, and $2 million for Career Connect to develop internships at Pennsylvania companies.

To explore further details about Governor Shapiro's 2025-26 budget proposal, visit Governor Shapiro’s 2025-26 budget proposal or visit shapirobudget.pa.gov.