SSTI Digest

SSTI has an effective new learning tool for TBED policymakers and practitioners seeking guidance in approaches to building and sustaining tech-based economies. Through exclusive interviews with Excellence in TBED Award recipients, find out first-hand how these award winning initiatives successfully responded to a critical need by applying innovative approaches to generate substantial economic gains for their region.

SSTI has an effective new learning tool for TBED policymakers and practitioners seeking guidance in approaches to building and sustaining tech-based economies. Through exclusive interviews with Excellence in TBED Award recipients, find out first-hand how these award winning initiatives successfully responded to a critical need by applying innovative approaches to generate substantial economic gains for their region.

Adding to a growing number of governors proposing to consolidate state economic development agencies, Gov. Jodi Rell last week announced in her budget request her intention to overhaul Connecticut's job creation infrastructure by merging several state agencies into the Department of Economic and Community Development (DECD). In recent months, governors in New York and Kansas, for example, have touted cost savings, streamlining government services, and creating a more efficient system to assist in business development and job creation as reasons for the proposed mergers. However, in two cases, critics have argued the consolidations would lead to a loss of key programs serving the TBED community (see the Jan. 21, 2009 and the Dec. 17, 2008 issues of the Digest).

Four recipients selected as best practice models in technology-based economic development were honored during an awards ceremony last week in Cleveland during SSTI's 12th Annual Conference. The awards follow a national competition emphasizing impact and replicability in approaches to building and sustaining tech-based economies.

Peter Longo was appointed president and executive director of Connecticut Innovations. Longo previously served as the organization's deputy director and acting executive director.

Edward Bowman Jr. was selected as chairman of Connecticut Innovations. Bowman replaces Elaine Pullen, who resigned to focus on her consulting business.

Elaine Pullen resigned as chairman of Connecticut Innovations to focus on her consulting business.

In keeping with the July 1 fiscal year deadlines, several states passed their budgets last month. The following states passed budgets that include funding for alternative energy, R&D tax credits, and science, technology, engineering and math (STEM) initiatives. 

 

Connecticut

The FY 2008-09 biennial budget includes funding for initiatives aimed at developing a fuel cell cluster in the state. The budget for the Connecticut Department of Economic and Community Development appropriates up to $375,000 to assist the Connecticut Center for Advanced Technology (CCAT) in establishing a hydrogen fuel cell coalition and industry cluster, championed by Gov. Jodi Rell in her Budget Address (see the Feb. 19, 2007 issue of the Digest). In addition, the budget provides up to $450,000 to CCAT for the purpose of drafting a fuel cell economic development plan.

 

New Hampshire

Lawmakers passed SB 134, establishing an R&D tax credit aimed at encouraging innovative companies to create jobs. The measure, proposed by Gov. John Lynch in his Inaugural Address (see the Jan. 8, 2007 issue of the Digest), offers a tax credit of up to 5 percent of the business enterprise tax due for qualified manufacturing R&D expenditures.

 

Ohio

Gov. Ted Strickland last month signed into law the state’s two-year operating budget, which includes funding for new STEM education initiatives. The Ohio Innovation Partnership includes two new programs: the Choose Ohio First Scholarship and the Ohio Research Scholars.

 

The Choose Ohio First Scholarship, a $100 million program, will be leveraged with at least $100 million in private support to encourage Ohio students to study STEM fields or become teachers in those fields. Scholarship levels range from $1,500 to $4,600 per year. Under the Ohio Research Scholars program, $50 million per fiscal year is directed to recruit world-class scholars tied to job creation in Ohio’s regional economies.

 

In addition, the Ohio Department of Education budget includes $6.3 million to create five new STEM-related high schools for grades 6-12 and to fund two grant programs to foster STEM programs of excellence in grades K-8.

The following were named recipients of the 2005 National Medal of Technology:

Gov. Jodi Rell nominated Joan McDonald to succeed James Abromaitis as Connecticut's commissioner of economic and community development. McDonald had been a senior vice president with the New York City Economic Development Corp.

John Mengacci, CEO of Connecticut Innovations, announced his resignation.

Connecticut Innovations has named John Mengacci interim president while it conducts a broad search to fill the position permanently.