SSTI Digest

On Nov. 14, the Massachusetts’ House and Senate approved a compromise $4 billion economic development measure after months of negotiations that followed the end of their formal legislative session this past summer and the spring release of Gov. Maura Healey’s $3.5 billion proposal, An Act relative to strengthening Massachusetts’ economic leadership, or the Mass Leads Act.

CHIPS for America recently announced $285 million to establish the Semiconductor Manufacturing and Advanced Research with Twins (SMART) USA Institute, which will focus on semiconductor manufacturing and advanced packaging. SMART USA is a consortium spanning more than 30 states and comprising more than 150 expected partners in industry, academia, national labs, and the full spectrum of supply chain design and manufacturing, according to a press release from Purdue University. The consortium is led by Semiconductor Research Corporation (SRC), located in Durham, North Carolina.

SSTI extends a huge “thank you” to all of the organizations partnering with us to make SSTI’s 2024 Annual Conference a success! Please take a moment now to learn more about our partners here and then be sure to visit them in person this December.

The Association of University Research Parks (AURP) recognized Dan Berglund, SSTI president, with a Career Achievement Award at its International Conference earlier this month. In a press release, AURP said, "Through the course of his SSTI career, Dan’s leadership has made a significant contribution to the advancement and recognition of the innovation ecosystem, including the Innovation Advocacy Council.”

In addition to the Career Achievement award, AURP presented

The United States Department of the Treasury’s (Treasury) new 2022-2023 State Small Business Credit Initiative (SSBCI) 2.0 Annual Report highlights the nearly $10 billion program to enhance access to capital for small businesses, particularly those in underserved communities. Data from the participating jurisdiction’s first 18 months—from August 5, 2022 through December 31, 2023—reveals approximately $750 million expended SSBCI dollars, resulting in $3.1 billion in overall new financing, including $2.6 billion in private investments, and 46,200 jobs reported expected to be created or retained (20,600 created and 25,600 retained). These funds have supported nearly 3,900 loans or investments, with 75% of transactions directed toward underserved businesses, including 40% for minority-owned and 31% for women-owned or controlled companies.

SSTI will continue the conversation about the SSBCI program at the Annual Conference. SSBCI director, Jeff Stout, will provide an update on the program in The latest on Treasury’s $10 billion investment in small businesses. The session will provide insights into Treasury's current thinking and to better understand how SSBCI might be better leveraged as a regional resource. SSBCI outreach team member Karl Fooks will moderate the session, How regions are adapting to trends in equity investment. This session will highlight how other states have been adapting to swings in private venture capital markets from all-time highs to mediocre activity, which, for many states, occurred just as they were rolling out their approaches to the SSBCI program. We’ll also discuss the implications of this volatility for designing future capital access initiatives.  Finally, SSBCI representatives will present as part of the Federal Funding Forum.

We’ve negotiated an extraordinary room rate for this year’s conference: $209 plus nominal taxes and fees at the conference venue, the Sheraton Grand at Wild Horse Pass in the Gila River Indian Community within the Phoenix, Arizona Metro Region. But our negotiated rate expires once the room block fills or after Monday, November 18.

Reserve Your Room

Additionally, our registration closes on December 3, so why not check both these items off your to do list and do them now?

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Forty-one states and Puerto Rico voted on 151 statewide ballot measures this fall. Many measures focused on abortion, citizenship, or electoral system reforms. Three measures with direct connection to innovation all were approved by voters, augmenting the strong track record tech-based economic development initiatives have when they are placed directly before voters. The three measures were for vocational-technical school scholarships in Arkansas, a $25 million R&D bond issue in Maine, and a $160.5 million higher ed facilities bond bill in Rhode Island. Voters have previously approved R&D bond measures in Maine and Rhode Island. SSTI highlights more information on those and other initiatives that could have or will impact economic development in individual states.

About three-quarters of Americans (76%) say they have either a great deal (26%) or a fair amount (51%) of confidence in scientists to act in the best interests of the public, according to a new Pew Research Center report. These ratings are a slight improvement over the results of a similar Pew survey in 2023 when 73% said they had either a great deal or a fair amount of confidence in scientists, and represent a halt in decline in scientists' public image seen during the COVID-19 pandemic. (SSTI covered that survey here.)

Pew based the new report on a survey of 9,593 U.S. adults conducted Oct. 21-27, 2024.

The TBED community, similarly to research scientists, faces communication challenges with elected officials, regional stakeholders, and even their friends and family. SSTI has conducted three surveys over the last nine years to uncover problematic jargon, illuminate alternative approaches, and inform our members’ communication strategies. At the SSTI Annual Conference, we'll present the latest results from a focus group and survey that will help the community communicate better with non-TBED audiences. Learn more about the conference here.

The Wisconsin Center of Manufacturing & Productivity (WCMP) recently released its fourth annual Wisconsin Manufacturing Report, a comprehensive overview of the state's manufacturing sector. While the survey is specific to Wisconsin and manufacturing, the 58-page report will be of interest to policymakers across the country for possible replication, critical insights into concerns that manufacturers are experiencing, and guidance to manufacturers in other states to apply to their own situations.

The Innovative Solutions Canada (ISC) program is often compared to the U.S. Small Business Innovative Research (SBIR) program. And, like the SBIR program, ISC has faced criticism from skeptics despite metrics that show the program delivers high returns on investment. When Canada’s Budget 2023 Initiative recommended reallocating 14.1 billion Canadian dollars (CAD) in federal spending, each Ministry was tasked to identify programs that did not address the government’s top priorities. Innovation, Science and Economic Development Canada (ISED) identified ISC as one such program. ISC’s budget of 147.6 million CAD in fiscal year 2023 was trimmed by 28.2 million CAD in 2024-25 and 70 million CAD annually thereafter.