Gaming revenues from Presque Isle Downs & Casino will help launch two Erie-area startup companies and fund research at a local manufacturer.
The Erie Innovation Fund, a partnership between the Erie County Gaming Revenue Authority and Ben Franklin Technology Partners, has announced investments in the following companies:
▀ Lewis Designs LLC, located in Waterford, is developing innovative brake designs that perform more efficiently and improve stability and control.
▀ Conduit Marketing, of Girard, has developed patent-pending software that allows users to create and complete clinical documentation required by insurance providers to purchase medical equipment.
▀ TM Filtration, an Erie-based division of TM Industrial Supply, is working to develop filtration systems that can be used to serve the shale gas industry.
The exact dollar amount of these investments was not immediately available. Since 2008, the Erie County Gaming Revenue Authority has invested more than $19 million in Erie County.