SSTI Digest

The latest reporting and analysis on breakthroughs in technology-based economic development research and issues that matter most to you. To receive the SSTI Weekly Digest via email, sign up here.

Geography: North Carolina

NC Budget Boosts Funding for Life Sciences, Small Businesses in FY11

Several components of Gov. Bev Perdue's JobsNOW small business package related to tech-based economic development efforts in North Carolina were approved in the FY11 budget signed into law on June 30. A program to provide matching funds for Small Business Innovation Research (SBIR) will see its budget more than double in the second year of the biennium and life science programs will receive more than $22 million in recurring appropriations. The enacted budget also extends to Jan.

North Carolina Introduced 15 Percent Digital Media Tax Credit

North Carolina Governor Bev Perdue recently signed off on a package of economic incentives for small businesses, including tax credits for interactive digital media firms, particularly those that collaborate with the state's research universities or community colleges. Digital media companies, including video game studios, are eligible for a 15 percent income tax credit; 20 percent for higher education collaborations. The bill also provides a 35 percent tax credit for research performed within one of the state's Eco-Industrial Parks.

TBED People

Andre Pettigrew, the director of the Denver Office of Economic Development, will become the first executive director of Climate Prosperity Inc., a Washington, D.C., climate-change think tank. LaCharles Keesee, the city's deputy chief financial officer, will assume an interim role as head of the city's economic development department until a final replacement is named.

TBED People

Holli Baumunk, vice president of the Metro Denver Economic Development Corporation, has been named president and CEO of the Colorado BioScience Association.

NC Gov Unveils JobsNOW Legislative Package

Gov. Bev Perdue last week announced a number of proposals designed to grow the state's economy and create jobs by focusing on the small business sector. The JobsNOW Small Business Assistance Package involves three areas of assistance, including tax incentives, statewide support for small businesses, and expanding the N.C. business preference to help small businesses compete for state contracts.

North Carolina Selects Credit Suisse to Manage $230 Million Innovation Fund

North Carolina State Treasurer Janet Cowell has announced credit services group Credit Suisse will serve as manager of the state's new $230 million innovation fund. The fund, drawn from public pension dollars, will invest in North Carolina-based technology businesses over the next five years. Though full investment guidelines have not yet been developed, investments will be aimed towards high-growth industries, including life sciences, clean energy and other high-tech industries.

TBED People

Carl Bauer is retiring from federal service and leaving the National Energy Technology Laboratory effective Feb. 28, following a four-year tenure as the laboratory’s director.

Joining the Pittsburgh Life Sciences Greenhouse as executives in residence are Maureen Peszko and Michael Lang. Pierre Queiroz de Oliveira will be joining the program as an executive associate.

North Carolina Governor Establishes Innovation Council

To foster strategic investments and policies in the knowledge and innovation economy, Gov. Bev Perdue recently signed an executive order establishing the North Carolina Innovation Council. The council is responsible for advising the governor on public and private investments and polices to promote innovation, move innovative ideas from the lab to the marketplace more efficiently, and strengthen collaboration among business, academia, and local government.

TBED People and Organizations

Kathy Collins has been appointed as the Wisconsin Entrepreneurs’ Network (WEN) regional director in Madison. Previously, Collins worked as the technology and financial development manager in the Commerce Division of Business Development.

Ron Cox has been appointed as the assistant dean for economic development in the engineering college at Iowa State University. He retains his current position as director of CIRAS, the Center for Industrial Research and Service.

Federal Stimulus Funds Help Fuel North Carolina Green Economy Projects

Federal stimulus funds approved earlier this year by Congress are doing more than filling budget gaps in states across the nation. During a year in which it otherwise may be virtually impossible to direct much funding to starting initiatives aimed at growing the economy, many states are using federal stimulus funds to implement new programs.

TBED People and Organizations

The Piedmont Triad Research Park laid off Bill Dean, director of the park, and Nancy Johnson, marketing director. Park officials said that the park's project manager and executive assistant also were laid off.

TBED People and Organizations

J. Mike Books is leaving his post with the Indiana Health Industry Forum to become the first economic development director for the city of Columbia, Missouri. He also will serve as president of the Regional Economic Development Inc. Brooks will assume his new responsibilities on July 15.