New Ben Franklin president urges merchants not to ‘lose focus’
Valletta, a Philadelphia native, to take on nonprofit group focused on business development
Ben Franklin Technology Partners of Northeastern Pennsylvania conducted a nationwide search and received 150 applications in the months since R. Chadwick Paul Jr. announced his retirement as CEO.
In picking Angelo J. Valletta, the Bethlehem business-development group’s search landed someone from about 50 miles south.
Valletta, 55, grew up in South Philadelphia and still lives in the city with his wife, Andrea. He begins his role as president and chief operating officer Jan. 4.
With degrees in computer science and business management, Valletta has worked in banking, insurance, sales and consulting.
He also recently was president and CEO of a nonprofit, independent arm of the Philadelphia Archdiocese — the Catholic Foundation of Greater Philadelphia.
“I’ve always seen myself as an individual that really understands the business side and applies the technology to enable that organization from a business perspective,” Valletta said during an interview this week with him, Paul and Ben Franklin spokesperson Laura Eppler.
Paul, 66, who became CEO in February 2002, or about half of Ben Franklin’s nearly 40-year existence, plans to stay on until March 31. He is credited with leading the organization that, as of 2019, created 11,311 technology-based jobs among client companies and retained 29,719 positions.
Since its beginning in 1983, Ben Franklin has helped to create 19,257 new jobs and retain 43,880 workers in its service area, which includes the Lehigh Valley. It also has helped start 525 new companies, and develop 2,113 new products and processes.
Since the coronavirus pandemic, many startup and early-stage businesses have had to figure out new ways to operate, let alone survive. So has Ben Franklin, which operates its headquarters and a business incubator on Lehigh University’s Mountaintop Campus as part of a network of locations in 21 northeastern counties.
Valletta, who most recently has worked as a banking consultant, said he helped smaller, community banks navigate government-sponsored pandemic loans to businesses and more.
“We helped them pivot and try to deliver some best practices of what other financial institutions were doing as they needed to start closing their lobbies and leverage their drive-thrus, taking more of a fast-food approach,” he said.
Valletta is the second Philadelphia native in as many years to take on a Valley-based nonprofit business-development group. Rich Hobbs became CEO of Manufacturers Resource Center in Upper Macungie Township in 2019.
Valletta, who will relocate to the Lehigh Valley, will slide into the CEO role when Paul leaves March 31. Here are excerpts from the interview.
Q: How did you come to apply for the Ben Franklin post, and why decide to move from your hometown?
A: What really drove me was the reputation of Ben Franklin, the ability to really work with early-stage organizations as well as established manufacturers, and to leverage technology as an enabler to bring jobs to the area. And for me, we have adult children, so it’s a great opportunity to move to a beautiful area in the Lehigh Valley.
Q: Why did you decide to leave the church position with the Catholic Foundation of Greater Philadelphia?
A: It was a great opportunity. When you’re talking about an independent, faith-based community organization, that was more of a mission for a couple of years, and the board knew that it would be a couple of years. I coached the individual who has taken over. I wanted
to get back into the consulting sector at that point after the job was done, so to speak.
Q: What are your aspirations for building upon the legacy at Ben Franklin?
A: Really kind of build on that growth aspect of jobs, keeping the focus on that, keep ensuring that we’re investing in the right organizations for growth in the Lehigh Valley perspective. As far as strategies, I have to first learn the incredible maturity of the team assembled by Chad and be able to really drive the organization and grow the organization like Chad has.
Q: The local Ben Franklin and the network statewide have been grappling over what they claim is a need for additional state funding. Do you have any plans on how you would address that?
A: I’ll have some thoughts. ... An incredible benefit is to have Chad available to work with me from that perspective, understand the players, understand the politics of it. From that standpoint, I can’t say enough about that opportunity.
Q: You are an investor and adviser with at least one Philadelphia-area startup, Dineable (which uses a platform to connect people with professionals whohelp prepare their food). Are you still active in those areas and would you have to divest yourself of those investments in your role with Ben Franklin?
A: We’ve talked about that. I’m very open from a Dineable perspective. Ben Franklin Technology Partners of Northeastern Pennsylvania or Ben Franklin overall have no involvement. I won’t have to divest from that perspective, but any investments that I do personally, I will definitely run through the board to ensure there are no issues as it relates to any inappropriate behavior. I have been a user of Dineable for some time now and think it is a wonderful tool. My wife has a major dairy allergy and I am a diabetic, and Dineable allows us to be proactive with our dining experience. Sometimes you invest in things near and dear to your heart.
Q: With many small business owners are dealing with economic hardship from the coronavirus pandemic, what would you advise to those who are struggling?
A: I would say take a look at the opportunities and see it as an opportunity. Take those challenges and pivot but don’t lose focus on what you do best from an organizational perspective. Pivot when there’s a need and come out on the other side of it stronger and be able to grow your base. So survive, pivot, stay true to your product and the nature of your business, and be able to come out on the other side of it.
Q: You’ve been active with several nonprofits. Are you looking to connect with any here? A:
I have a meeting this week to talk with the Red Cross that is housed in the Lehigh Valley. I’ll move my boardship from Southeastern Pennsylvania to the newly formed Northeastern Pennsylvania Red Cross to connect in the community and serve constituents who need the most help.
Q: It sounds as if it would dovetail with Ben Franklin’s territory.
A: It almost matches perfectly. I couldn’t have built it myself if I tried, quite honestly.