Meet Rebecca Bagley

Deputy Secretary for PA’s Technology Investment Office Wants to Help Small Manufacturers Grow and Succeed

Tell us a little about your background and how it will help you execute your department’s goals.
My extensive background in banking and investment has provided me with the knowledge and capability to bring people, organizations and businesses together toward a common goal. I use these skills on a daily basis to meet the needs of our businesses and partner organizations. I believe that Governor Rendell has an aggressive plan in place for a New Pennsylvania that has already begun to show positive results through his economic stimulus package. I look forward to working with our companies, communities and partner organizations to meet their needs and to growing Pennsylvania’s economy through the Technology Investment Office’s (TIO) programs and initiatives.

What do you see as the primary mission of your office?
The Technology Investment Office (TIO) of the Pennsylvania Department of Community and Economic Development (DCED) serves as a catalyst for growth and competitiveness for the Commonwealth’s companies by providing technology-based economic development initiatives, including funding, partnerships and support services. The TIO is responsible for ensuring that our technology-based economic development (TBED) organizations, programs and initiatives are working together throughout the Commonwealth to fully leverage the wealth of needed research, capital resources and support services available to build a comprehensive infrastructure that supports company growth in the 21st Century.

Currently, the TIO is responsible for managing over 40 programs and initiatives that are funded by more than $80 million in annual appropriations. In this fiscal year alone, the TIO will be responsible for investing and overseeing more than $3.2 billion.

Pennsylvania is currently in a state of transformation. The Commonwealth is in the midst of the critical process of transforming our legacy economy – one that made Pennsylvania an agricultural and industrial leader in the 19th and 20th centuries – into a new economy that fits with 21st century realities. And while some states are trying to build new economies from scratch, Pennsylvania is actively working to leverage a century’s worth of agricultural, manufacturing and industrial infrastructure to build an agile economic engine with the capacity to renew these existing industries and create new markets.

The tactics and tools that help businesses grow have changed dramatically over the past 40 years in response to a constantly changing global marketplace and it is our responsibility to assist Pennsylvania’s community of innovation-focused economic development organizations in helping to bring about this important transition. Across the nation, Pennsylvania is emerging as a leader in driving TBED. As other states seek to copy our practices, we must continue to push the envelope in order to remain competitive. We must aggressively pursue reinvention in order to compete.

How do you plan to fulfill that mission?
The TIO strives to guarantee that we have the necessary infrastructure in place to assist our businesses and manufacturers no matter where they fall in the business life cycle. Governor Rendell has put into place many programs and initiatives to support the goals and initiatives of the DCED. From the groundbreaking Keystone Innovation Zone Program to his Manufacturing Initiative, Governor Rendell has made economic development a priority and the TIO is working to implement these programs and initiatives to ensure our manufacturers, stakeholders and businesses succeed and grow. The TIO is creating an environment where all businesses in Pennsylvania put innovation at the center of their business.

The team at DCED works tirelessly to fulfill our mission and commitment to our partners, companies and stakeholders. As the manufacturing industry has changed dramatically over the years, our mindset and goals have changed to adapt to that change. We will continue to build relationships with the Governor’s Action Team to facilitate technology and manufacturing based company deal flow; strengthen existing venture capital relationships and successfully roll out Governor Rendell’s new economic stimulus venture capital programs; assist manufacturers to innovate and provide the needed resources and capital for their success; and continue to educate the Commonwealth’s companies and the legislature on our continuum of capital approach to economic development.

What do you see as the important issues facing Pennsylvania Manufacturers?
One of the most important issues facing Pennsylvania’s manufacturers today is the ability of manufacturing companies, large and small, to innovate and compete in a global marketplace, especially against low-cost competitors. Companies must now, more than ever, employ innovative practices in their production processes, product development, sales and marketing and business strategies. Development of high-value products in niche markets with secured intellectual property will provide protection from the threat of competing on price in a commodity market.

How will your office try to address these issues in the next year?
With more than 725,000 Pennsylvanians earning family wages in manufacturing jobs across the Commonwealth, we must continue to look for innovative and decisive programs and initiatives to sustain and build. In March, Governor Rendell unveiled his manufacturing strategy that will serve as a blueprint to assist Pennsylvania manufacturers in deploying innovation and the ability for these companies to enhance the competitiveness of the Commonwealth’s manufacturers.

Through the Economic Stimulus plan, numerous programs were implemented to support the manufacturing industry, which focuses on the continued success of one of Pennsylvania’s most historical and important economic drivers. These financing programs help to provide the capital necessary to deploy innovation. The TIO is assisting with the implementation of the VC programs and Keystone Innovation Zones. Our office also houses the Manufacturing Ombudsman, who works with the sector on cutting the red tape of state government as well as special initiatives to support manufacturing companies. Our Workforce Leadership Grant program will assist in the development of the future pipeline of advanced manufacturing workers by developing an affordable educational career track that starts in high school and continues to associate’s degrees or bachelor’s degrees.

In order for the manufacturing industry to remain strong in the 21st century, the Commonwealth helped establish the Industrial Resource Centers (IRC). The IRCs received additional funds in 2005 to assist manufacturers in product development, business strategies and market analysis. Annually they work with over 800 companies on more than 1,300 projects to improve processes and deploy innovation. Our Ben Franklin Partners assist early stage manufacturing companies with investments and supply technical resources and some financing to mature companies implementing new products and processes.