SSTI Digest

Proposed state budgets in Louisiana, Massachusetts and North Carolina show support for innovation and higher education, with some states better positioned in their levels of support while some programs are experiencing cuts. North Carolina unveiled new programs supporting a variety of tech-based economic development initiatives, while Louisiana is restoring full funding for its state scholarships for residents despite its budget deficit.

The Delta Regional Authority  (DRA) released the Regional Development Plan III (RDPIII) – an economic development strategy to help guide DRA’s 252-county region’s economic growth over the next five years. In RDPIII, DRA identifies three goals and related action items to guide its economic development efforts in the Delta region:

SSTI’s analysis of gubernatorial addresses, strategic plans and budget proposals continues this week with highlights from Alabama, Louisiana, Oklahoma, Pennsylvania and Tennessee. Governors are facing difficult fiscal situations in several of these states, often scaling back tech-based economic development efforts. Tennessee Gov. Bill Haslam, however, is using a fiscal surplus to invest in higher education and regionally focused economic initiatives.

Now that many governors have signed spending bills and legislative sessions are drawing to a close, the SSTI Digest will check on the status of proposals related to the innovation economy, and examine the state of technology-based economic development funding in the states. This week, we review spending bills in Alaska, Connecticut, Louisiana, South Carolina and Vermont.

The Delta Regional Authority (DRA) announced the establishment of a consortium for research and innovation that is intended to 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. DRA selected Arkansas State University to lead the consortium and bring together university research officers and local economic development leadership to support the commercialization efforts and economic impacts of research universities in the DRA's footprint. Founding members of the consortium include Delta State University, Louisiana State University, Mississippi State University, Southeast Missouri State University, University of Memphis and University of Tennessee at Martin. Read the announcement…

In order to build a prosperous, globally competitive economy in Louisiana, state universities must take on a greater role as hubs of regional innovation, according to a report from the Public Affairs Research (PAR) Council of Louisiana. The report includes 46 recommendations to transform the state's economy by revamping existing innovation programs, and boosting university research. PAR's strategic plan is based on a review of innovation policies in other states, particularly Georgia and the work of the Georgia Research Alliance.

Several governors released their proposed budgets over the last two weeks, and while some states continue to deal with budget shortfalls that prevent many new initiatives from coming into fruition, governors in Pennsylvania and North Carolina included numerous proposals focused on innovation and economic development. Additionally, governors in Louisiana and Massachusetts highlighted new workforce development proposals. 

Purdue University, the University City Science Center, and Washington State University announced the creation of new investment funds to support the growth of university-affiliated startups in their respective communities. These three recently announced commercialization funds all share a common trend – they will be managed or assisted in the management process via public-private partnerships. In Baton Rouge, LA, the Research Park Corporation also announced the creation of a fund to assist Louisiana State University researchers compete for commercialization funding from the university.

This article is part of SSTI's series on trends in state technology-based economic development legislation in 2014. Read our other entries covering legislative action on patent reform, research capacity, technology commercialization & infrastructure, tax credits & STEM and manufacturing & clusters.

A project underway between IBM and Louisiana State University’s School of Engineering aims to better meet employer needs by tripling the number of computer science graduates in five years. Hoping to generate more partnerships like these, lawmakers approved legislation supported by Gov. Bobby Jindal that allows colleges and universities to compete for funds in an effort to produce graduates in high-demand areas. A smaller percentage of the funds distributed under the new Workforce and Innovation for a Stronger Economy (WISE) Fund will be based on federally funded research expenditures.