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NC Commits $250M for Second North Carolina Innovation Fund

May 06, 2015

State Treasurer Janet Cowell announced a second North Carolina Innovation Fund (NCIF), a $250 million commitment to North Carolina-centered companies. Approximately $165 million will be designated to make co-investments in growth stage companies with the potential for a risk-adjusted, high return on investment (ROI) – 20 percent ROI. The second NCIF will make targeted investments into a diverse set of industries that include key sector identified by the state as growth sectors.

Delta Regional Authority Forms 35 Member Public-Private Research, Innovation Consortium

May 06, 2015

The Delta Regional Authority (DRA) announced the establishment of a consortium for research and innovation that will have a long-term positive economic impact on the region. The 35-member consortium will be comprised of universities and other private and public institutions in eight states – Alabama, Arkansas, Illinois, Kentucky, Louisiana, Mississippi, Missouri, and Tennessee.

16.5M Individuals Indicate Job Required STEM-Related Degree in 2010, NSF Report Finds

April 30, 2015

In 2010, 16.5 million individuals indicated that their job required at least a bachelor's degree level in a STEM field, according to a new report by the National Science Board (NSB) – Revisiting the STEM Workforce.  These positions included many positions that are not traditional thought of as STEM jobs such as sales, marketing, and management.

EDA Announces $3M Short-Term Planning Assistance Grants for Coal-Impacted Communities

April 30, 2015

The Economic Development Administration (EDA) announced $3 million in planning assistance to communities impacted, or which may be impacted, by contractions in the coal economy.  The funds were made available in part due to the newly established Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) initiative, a new interagency effort to assist communities negatively impacted by changes in the coal industry and power sector.

The Water Council Announces Partnerships to Advance U.S. Water Entrepreneurship

April 30, 2015

Veolia, The Water Council, and the Wisconsin Economic Development Corporation have reached an agreement to launch the emPowering Opportunities in Water (POW!) program – a two-year national competition to support entrepreneurship and economic development while fostering sustainability efforts in the field of water.

State Budget Roundup: IN Legislators Approve Funding for Regional Cities Initiative

April 30, 2015

Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review actions in Alaska, Colorado and Indiana.

DOC, Aspen Institute Partner to Strengthen U.S. Workforce Development Efforts

April 30, 2015

As a component of the U.S. Department of Commerce’s Skills for Business initiative, The Communities That Work Partnership is a new joint project aimed at accelerating industry-led workforce development and training efforts.