Small Business Innovation Research (SBIR) and Small Business Tech Transfer (STTR) Funding in Pennsylvania and selected states per $1 Million in GDP (2009-2019)

Entrepreneurship
Number of companies appearing in the annual Inc. 5000 list of Fastest Growing Companies in America (top states by number of companies in 2020)

These graphs show the importance of foreign-owned companies to job creation in the Commonwealth. Foreign-owned companies tend to provide high wages because they are typically in high-tech, research-based industries. The presence of foreign-owned companies in a region may also attract other foreign firms, both within and outside of the same industry, ultimately creating more jobs for Pennsylvanians. (Brookings)

For the visualization, we define “foreign-owned companies” referring to the definition of “majority-owned U.S. affiliate” given by BEA (U.S. affiliate and Majority-owned U.S. affiliate). A foreign owned company is defined as a U.S. business enterprise in which there is foreign direct investment (FDI) and the combined ownership of all foreign parents exceeds 50 percent.

The FDI into Pennsylvania has been creating job opportunities in multiple industries, including manufacturing, wholesale trade, retail trade, information, finance and insurance, real estate and rental and leasing, scientific & technical services, and manufacturing industry takes the largest proportion among them.

Source: U.S. Bureau of Economic Analysis - Foreign Direct Investment

The Inc. 5000 is an annually released list that tracks the 5,000 companies in the U.S. that are experiencing the highest revenue growth. Of those companies on the 2020 list, 188 are headquartered in PA.
The literature shows that high growth firms (defined as firms experiencing 20% or greater compound annual revenue grown over 3-years) are responsible for a significantly outsized contribution to economic growth and job creation. It also suggests that small, young, and knowledge-based firms are much more likely to achieve the levels of high growth seen on this list.
The Brookings Institute conducted an analysis and general endorsement of the list: https://www.brookings.edu/research/high-growth-firms-and-cities-in-the-us-an-analysis-of-the-inc-5000/

Data Source: INC 5000, Introducing the 5,000 Fastest-Growing Companies in America

The official FCC broadband definition is a minimum of 25 Mbps download and 3 Mbps upload.

Cable/fiber internet connection is used to define access to broadband, since these are the most commonly used and currently best two types of internet for a fast connection. Other technologies are less preferable due to slowness, instability, data caps, and latency.

Utility patents are also described as patents for invention, meaning they are one of the better measures of innovative development. PA lags behind its peers, and the national average on the number of patents per 100,000 residents. This metric is expanded upon and analyzed in this report from the Brookings Institution: https://www.brookings.edu/research/ideas-for-pennsylvania-innovation-examining-efforts-by-competitor-states-and-national-leaders/
Sources:
• Patents: USPTO
• State Population: U.S. Census via https://www.macrotrends.net/states/pennsylvania/population
• US Population: https://www.multpl.com/united-states-population/table/by-year

Venture capital (VC) is an important source of funding to help companies achieve growth and profitability. A strong VC regional presence is necessary to help young companies at every stage of their growth, decreasing the likelihood that they will relocate and take their existing and future jobs with them.

Source: Crunchbase

The percent of Pennsylvania’s total workforce in science and engineering occupations by year

Made the N/A text a null field so the column could be a number. We can elaborate in the data description what this means.

Venture capital (VC) is an important source of funding to help companies achieve growth and profitability. A strong VC regional presence is necessary to help young companies at every stage of their growth, decreasing the likelihood that they will relocate and take their existing and future jobs with them.

Source: Crunchbase

Total funding allocated to DCED by fiscal year, highlighting specific programs/initiatives that are central to fostering Pennsylvania’s entrepreneurial community and emerging technology companies