SSTI Digest

With state revenues posting a surplus, Florida Gov. Jeb Bush used his 2006-07 budget proposal to make his largest request yet to support efforts to diversify the state's economy through technology-based economic development (TBED). In total, the budget provides $630 million for several new research-focused initiatives, business recruitment funds, and other economic development programs.

John Adams, director of the Laredo Development Foundation, will become the new director of Enterprise Florida.

Darrell Kelley, CEO of Enterprise Florida for the past three years, will retire on Aug. 1.

Many communities around the country have established authorities to oversee the real estate, infrastructure and management issues of their technology parks. Few of those authorities, however, provide direct grants to support industry-university R&D or commercialization projects. This more proactive approach to growing future tenants is the thinking behind a pilot program created last year for the Leon County Research and Development Authority (LCRDA) in Tallahassee.

Statewide efforts addressing all of higher education's public purposes are needed to combat the increasing competition and privatization sweeping the nation's public colleges and universities, says a new report from the Futures Project, Correcting Course: How We Can Restore the Ideals of Public Higher Education in a Market-Driven Era.

Michelle Bauer, executive director of the Tampa Bay Technology Forum, announced she will resign from her position in early 2005.

Forum Aims to Support Entrepreneurs in Southern New Jersey

A business support group for newly-formed companies, the Entrepreneurs Forum of Southern New Jersey, is promoting a more entrepreneurial-friendly environment in the Southern New Jersey region by partnering with universities and area businesses. The nonprofit group plans to leverage the resources of Rowan and Rutgers universities, business leaders, and government officials to improve the flow of ideas, services and funding to entrepreneurs. Private companies are providing funding for the forum to deliver free and low-cost services as well as planned seminars, events and networking opportunities to young companies in the region.

Rowan University Wins Approval for Technology Park Loan

A $5 million low-interest loan was approved in June to fund the South Jersey Technology Park at Rowan University. The Delaware River and Bay Authority’s (DRBA) Board of Commissioners approved the loan, which will be owned by the DRBA and leased to the university until the loan is repaid, according to the Courier-Post. The Courier-Post article states Rowan has secured more than $12 million for the first phase of the project, including a $6 million grant from New Jersey’s Economic Development Authority. The park could open as soon as 2006.

When Florida Gov. Jeb Bush surprised the world last October by announcing the state had landed an East Coast campus for the Scripps Research Institute, the draw from the public coffers cost was pegged at $510 million. The state was contributing $310 million and the county's share was up to $200 million for land acquisition and building construction.

Studies have shown a strong correlation between high-wage economic growth and university research activity. Examination of nearly every strong regional technology center across the country will reveal at least one research university within its boundaries. As a result, many state and local technology-based economic development (TBED) efforts strive to increase the quantity and quality of university R&D undertaken within their boundaries.

In an attempt to attract more bioscience firms, Florida will invest up to $1 billion of its $102 billion employee pension fund into venture capital, the State Board of Administration recently announced. A forum was held last week by Enterprise Florida, the state's economic development agency, to outline the investment plan to more than 80 venture capitalists in attendance.

BioFlorida named Diana Robinson as its new president.