Governors-elect Outline Support for Tech-Based Economic Development

While the 2002 election marked the return of Republican control of the U.S. Senate and the departure of a number of governors that had been strong supporters of investing in science and technology (e.g., John Engler of Michigan, Angus King of Maine, and Roy Barnes of Georgia), it may also mark the beginning point of a new group of governors that embrace technology-based economic development as a focal point of their administrations.

Of the 24 new governors, 14 outlined specific initiatives designed to build tech-based economies. Holding with tradition, support for science and technology crossed party lines and geographic region. Developing more capital sources for companies was raised by seven during their campaigns. Bringing broadband to all sections of the state was also a common theme with six indicating this as a major goal for their administration. Other areas of emphasis included working to better commercialize university technology, encouraging entrepreneurship, and expanding R&D tax incentives.

A sampling of some governors-elect positions on issues of interest to the tech-based economic development community follows:

Alaska

Governor-elect Frank Murkowski (R) called for developing technology industries as part of Alaska’s resource economy and creating businesses that export that technology in such industries as telemedicine, commercial fishing, and oil and gas. He also advocated increasing laboratory capabilities at the University of Alaska to leverage public and private grants for medical and technological research.

Georgia

Governor-elect Sonny Perdue (R) wants to provide high-speed internet access statewide through tax incentives and public-private partnerships.

Hawaii

Governor-elect Linda Lingle (R) supports state and federal matching funds for research to create new industries in agricultural science, biotechnology and pharmaceutical products; aggressive marketing programs that provide incentives for high technology investments; and, more state and federal funds for research activities at the University of Hawaii, technical assistance programs and technology transfer efforts.

Illinois

Governor-elect Rod Blagojevich (D) campaigned on a Partnership for a New Economy that includes the creation of a public-private $200 million Illinois Opportunity Fund and 20 Entrepreneurship Centers and improving high-speed internet infrastructure by laying fiber optic conduit with every road project.

Kansas

Governor-elect Kathleen Sebelius (D) called for broadband accessibility statewide.

Maine

Governor-elect John Baldacci (D) wants to increase investment in R&D by 50 percent in the first two years of the administration.

Michigan

Governor-elect Jennifer Granholm (D) outlined an economic development plan that: builds on the success of the Life Sciences Corridor by adding a high-technology corridor that leverages the automotive industry and a homeland security technology corridor to create a Michigan Technology Tri-Corridor; creates a seed development fund; and, provides high-speed internet access statewide.

Minnesota

Governor-elect Tim Pawlenty (R) says hopes to provide job growth with an agenda that stimulates more R&D through the use of incentives and promotes more aggressive deployment of research into the local economy.

New Hampshire

Governor-elect Craig Benson (R) supports the creation of an angel investment network, a venture capital network, business incubators and putting them on-line, and urging the retirement system to invest in the state and encouraging small business development through advocacy, incubators, and reduction of workers’ compensation costs.

New Mexico

Governor-elect Bill Richardson (D) is committed to providing seed capital and mezzanine financing to new or expanding companies and creating a partnership between state government, the federal labs, the state’s research universities, military bases and private investors into a New Mexico Technology Corporation.

Pennsylvania

Governor-elect Ed Rendell (D) campaigned on: the creation of a new investment tax credit program and expansion of the R&D tax credit program by $45 million; creation of a public-private venture fund; providing funding for statewide accessibility of telecommunications infrastructure; and, creation of an Economic Development Cabinet to oversee and coordinate all programs and agencies.

Tennessee

Governor-elect Phil Bredesen (D) is committed to supporting small business, technology development and entrepreneurs.

Vermont

Governor-elect Jim Douglas (R) called for attracting venture capital to finance entrepreneurs; enhancing and re-targeting R&D efforts that translate into new companies and jobs; creating a technology advisory board; supporting collaboration between public, private and non-profit and education institutions to deploy technology infrastructure and information transfer between organizations; and, encouraging technology research to create new technology-based ventures.

Wisconsin

Governor-elect Jim Doyle (D) campaigned for an economic plan that focuses on: creating an Office of Entrepreneurial Development; generating and commercializing new ideas in concert with University of Wisconsin; supporting biotechnology R&D and expanding the R&D tax credit; enhancing technology transfer programs; strengthening angel investor networks; capturing SBIR grants; making broadband accessible statewide; and, promoting and nurturing industry clusters.