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State & Local Tech-based ED Round Up

July 20, 2001

Albany, New York 

The Times Union reports the second coming of the Center for Economic Growth Technology Council, which, after eight years on hiatus, held a kick-off event Wednesday to launch several ambitious goals: establish two business accelerators, develop a technology roadmap of the region’s R&D assets, offer business and technical consulting services, and expand the area’s venture capital networking activities. The paper reports one of the accelerators will be geared toward nanotechnology firms. More information is available at: http://www.ceg.org/

Beatrice, Nebraska 

County economic development officials are teaming up with the local power company and Southeast Community College to establish an information technology business park, according to a July 18 Omaha World Herald article. Construction has started on the first 9,100 sq. ft. building which is expected to be attractive for businesses needing space for call centers and data processing divisions, the paper states. The college will offer businesses training services and part-time student labor. 



Cleveland 

The Cleveland Biotechnology Park has selected a site for its headquarters and a new incubator facility near the park’s founders: Case Western Reserve University, Cleveland Clinic Foundation and University Hospitals of Cleveland. The park, anticipated to cost $100 million when completed, received an initial appropriation of $8.5 million from the state legislature in FY 2001. The selected location is adjacent to two other state-supported technology incubators. Additionally, Crain’s Cleveland Business reported this week that the Cleveland Clinic plans to launch a biotech incubator to serve European biotech firms establishing offices in the U.S. 



Newnan, Georgia 

The Atlanta Journal and Constitution reported earlier this month that the city of Newnan plans to build a two-story business incubation center just outside of the central business district. The city recently purchased two of potentially five lots needed for the project. 



Providence, Rhode Island 

A $1 million grant from the U.S. Economic Development Administration will be used to convert an abandoned 25,000 square-foot factory into new business incubator in south Providence, reports the Providence Journal-Bulletin. The Gordon Avenue Environmental Incubator will be an energy-saving, “green” facility in a distressed urban core. Ninety-five percent of the required matching funds are being provided by the city; private sources are contributing the balance. 



Sioux Falls, South Dakota 

Forward Sioux Falls, the economic development arm of the Souix Falls Area Chamber of Commerce, and the Sioux Falls Development Foundation is committing more than a third of its $5.5 million budget to build a technology-based incubator and business park, according to a July 19 Associated Press wire story. 



Georgia 

The Augusta Chronicle reported the Georgia General Assembly has appropriated $6.4 million for matching endowments to support and equip five Georgia Research Alliance eminent scholars in cancer research and an additional $4.8 million to attract and support 30 additional eminent cancer researchers in the state’s research universities and hospitals. For more information: http://www.gra.org/scholars.html

Tennessee 

The Tennessee state legislature’s decision to use three years’ worth of tobacco settlement money to balance an anticipated FY 2002 budget deficit captured the headlines, but some cuts and unfunded items related to tech-based economic development may have a longer-term impact on future revenues. According to a July 15 article in the Tennessean, among the unfunded items are $3.57 million for the Tennessee Industrial Infrastructure Program, $400,000 for the Tennessee Technology Development Corp., $12.5 million for the university research initiatives, and $10 million for faculty recruitment and retention efforts. 



Williamsburg, Virginia 

The College of William & Mary has opened a Technology and Business Center to assist companies with their information technology needs, according to a July 18 article in the Daily Press. Funding to establish the $160,000 center was provided by Virginia’s Center for Innovative Technology and two local development groups. 



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Georgia