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House FY 2023 budget would increase innovation investments

With the end of the current fiscal year just three months away, the House Committee on Appropriations is set to finish marking up all of its FY 2023 funding bills by the end of this week. Similar to last year. the committee’s actions come before Congress has agreed to an overall spending level. Due to the potential for substantial changes when the final FY 2023 budget is passed, this article only covers specific funding levels that are a high priority for the tech-based economic development (TBED) field.

CDFI Fund awards to venture funds decline, equity investments increase

A new report from the U.S. Community Development Financial Institutions (CDFI) Fund shares performance data from federally certified CDFIs for FY 2020.

NCSES report finds that U.S. R&D increased by about $41 billion in 2020

Total R&D in the U.S. grew from $666.9 billion in 2019 to an estimated $708 billion in 2020, according to recent data from the National Science Foundation’s National Center for Science and Engineering Statistics (NCSES) examination of R&D performance in the United States over the past two decades. These findings follow additional trends in the report demonstrating the expanding R&D occurring in the U.S.

Despite economic concerns, recovery efforts boost Americans’ financial well-being, views on higher education explored in latest Fed survey

Although Americans perceptions on the economy dipped late last year, their financial well-being increased and hit its highest level since 2013, when the Board of Governors of the Federal Reserve System survey began. The results of the latest wide-ranging survey, reported in the Economic Well-Being of U.S.

New report examines impact of tech in Chicago economy

Chicago has seen 18 percent growth in its technology ecosystem (i.e. technology occupations in technology industries, non-technology occupations in technology industries, and technology occupations in non-technology industries) in the last decade compared to a 1 percent growth in the overall economy, according to the Chicago Tech Effect report from Chicagoland Chamber of Congress and HR&A Advisors. The report might serve as a model for other areas examining the importance of technology in their region’s economy.

OSTP nomination would make history as first woman confirmed to lead the office

President Biden announced his intent to nominate Arati Prabhakar to serve as the next director of the Office of Science and Technology Policy (OSTP) and once confirmed she would also become his chief science advisor.

EDA announces up to $35 million in new funding opportunities for Economic Recovery Corps and Equity Impact Investments programs

The U.S. Economic Development Administration (EDA) last week announced a new funding opportunity that includes two programs designed to strengthen equitable economic development strategies across the country. One program will add staff resource to local organizations focused on improving economic resilience and competitiveness in distressed regions across the country, while the second will provide technical assistance to enable organizations serving underserved populations and communities to participate in economic development planning and projects.