PTC Gets $600K Subsidy

Sys-Con Media reports that PA Governor Rendell Announces $600,000 Investment to Help Software Company Expand in Fayette County. The software company is PTC, who is using the money set up a "product development solutions center" in Uniontown PA USA, which will employ 125 people.

The financial aid to PTC from the state government consists of:

+ $375,000 Opportunity Grant
+ $93,750 Job Training Assistance
+ $125,000 in Job Creation Tax Credits

Last year, the state government spent $418 million on 205 projects that they figure resulted in nearly 20,000 new jobs and the retention of just under 40,000 existing jobs. That works out to about a $7,000-subsidy for each job; the assistance to PTC works out to $4,750 per job. Last year, PTC made a profit of $83.6 million.

Comments

[Jeffrey Opel]

This is awsome for Uniontown. I attended K-12 grade in that town. I am a CAD administrator in Michigan now. This type of news inspires me to return to my home town and run a center like this one. Bty, I have 20+ years of 3D CAD experience