SSTI Digest

Two proposals announced by Gov. Peter Shumlin would provide additional lending tools and incentives to attract and retain technology companies using revenue surpluses for the current fiscal year. The first proposal would establish the Vermont Enterprise Incentive Fund and authorize the governor to offer an incentive package not exceeding $4.5 million to businesses that have a substantial statewide or regional economic or employment impact. The second part adds $500,000 in state general funds to the $1 million in federal funds available to the Vermont Economic Development Authority’s Entrepreneurial Lending program. The program will create a loan loss reserve to reduce the risk of lending to the startup tech sector, according to the governor’s press office. Read the announcement.

The second installment of SSTI’s Tech Talkin’ Govs series includes excerpts from speeches delivered in Alabama, Arizona, Georgia, Iowa, Kansas, Rhode Island, South Dakota, Vermont and Virginia. The first installment is available here. Alabama Gov. Robert Bentley, State of the State Address, Jan. 14, 2014 “We must create greater opportunity for Alabamians to acquire the skills needed for higher-paying jobs. Companies are looking for and jobs are waiting for skilled workers. ... “... We will present legislation creating a Statewide Workforce Council of business and industry leaders who will advise educators and colleges on the workforce needs on the types of jobs needed in each region. “We will expand the number of Career Coaches. We will expand Dual Enrollment Programs, so that students may attend high school and a 2-year college at the same time. ... Once implemented, this program will improve high school graduation rates and increase the number of higher-skilled workers.” Arizona Gov. Jan Brewer, State of the State Address, Jan. 13, 2014 "This year I am calling on the legislature…

Georgia Tech has launched a crowdfunding resource for university-based students and faculty. Originally announced in the spring, Georgia Tech joins several other universities that are using crowdfunding to finance commercialization and the development of startups based on university research. The field has become common and relevant enough that an online community has started tracking this growth. Georgia Tech’s new crowdfunding site, Georgia Tech Starter, launched last week will allow science and engineering researchers an alternative source of funding in a time of restricted government grants. Unlike other crowdfunding services, online investors in the research will not receive any tangible rewards, although they may receive a tax deduction. In addition, the university will provide project review, administration and facility upkeep, which makes the fee paid to Georgia Tech significantly higher at 35 percent than other crowdfunding sites. Currently, only members of the Georgia Tech community can utilize Georgia Tech Starter, although this may expand in the future. Georgia Tech is not the first university to embark on an experiment in hosting and utilizing a…

Rebecca Blank, the acting U.S. secretary of Commerce, is expected to be the next chancellor of the University of Wisconsin at Madison. The Board of Regents is scheduled to vote on the recommendation April 5. President Obama announced he has chosen Thomas Perez, the head of the U.S. Justice Department's Civil Rights Division, to be the next secretary of Labor. The nomination, announced Monday, will require Senate confirmation. Lars Hasselblad Torres has been named the director of the Vermont Department of Economic, Housing and Community Development's Office of the Creative Economy. David Goodman was appointed director of the Ohio Development Services Agency by Governor John R. Kasich. Previously, Chris Schmenk held the position. Vincent Mikolay has been hired as managing director of business outreach and international trade for the Utah Governor's Office of Economic Development. Tim Priest has been hired as Innovate Washington's chief marketing and development officer. Aram Nerpouni has been named president and chief executive officer of BioEnterprise. Last Sept., Nerpouni was named interim president of BioEnterprise in…

The second installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Colorado, Nebraska, Nevada, Rhode Island, South Dakota, Vermont, Washington, and Wisconsin. Our first installment was in the Jan. 9 Digest. ColoradoGov. John Hickenlooper, State of the State Address, Jan. 10, 2013 “We also ask that you pass House Bill 1 ... bipartisan legislation that will support ‘advanced industries’ in Colorado. ... “... The second annual COIN Summit, hosted by the Colorado Innovation Network, will take place in August. We will convene national and international stakeholders to discuss technology, workforce development, higher education and our state's brand” NebraskaGov. Dave Heineman, State of the State Address, Jan. 15, 2013 “Our students of today are the leaders of tomorrow, and it is critical to our future that they have affordable access to a quality higher education. Last week, University of Nebraska President J.B. Milliken, Nebraska State College Chancellor Stan Carpenter and I announced that the University of Nebraska and Nebraska's…

On November 6, in addition to the presidential election, eleven state and two territorial gubernatorial contests will be decided. Seven of these races (Delaware, Missouri, North Dakota, Puerto Rico, Utah, Vermont, and West Virginia) include a sitting governor running for re-election, while the remaining six (American Samoa, Indiana, Montana, New Hampshire, North Carolina and Washington) are open races. Of the races involving incumbents, four are a Democratic governors being challenged, while three sitting Republican governors are up for re-election — two of them for a full term after completing the terms of the previous governors who left for other positions. Five of the open races are a contest for a seat being vacated by a Democrat, while only one is currently held by a Republican. SSTI took a look at the TBED platforms of the candidates for governor. Delaware Jack Markell (D)Gov. Jack Markell has pursued a multi-pronged approach to economic development that includes providing small businesses access to credit, creating tax incentives for businesses to hire Delawareans, expanding the research and job training facilities at the…

Gov. Peter Shumlin introduced a plan to invest $8 million in university programs designed to address a shortage of skilled workers. Under the plan, the University of Vermont and Vermont State Colleges each would receive $4 million in one-time funding to implement university-industry partnerships, facilitate re-entry of science and engineering professionals, and expand dual enrollment for high school seniors. In his Budget address to lawmakers last week, Gov. Shumlin cited a disparity between high-quality jobs that are available and skilled workers to fill those positions as inspiration for his higher education proposals. Funding would come from the state's Higher Education Trust, which received $11 million in FY11 from the estate tax, bringing its balance to $29.5 million, reports The Burlington Free Press. The University of Vermont (UVM) would use its $4 million in one-time funding for the following initiatives: Expanding successful university-industry partnerships to provide seniors the opportunity to get hands-on job experience with businesses and nonprofit organizations; Creating an international center of excellence in complex systems at UVM to enhance economic growth; and…

SSTI's Tech Talkin' Govs series has returned for its 12th annual edition. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses across the nation. The first installment includes excerpts from speeches delivered in Georgia, Iowa, New York, Kentucky, South Dakota, Vermont, and Virginia. Georgia Gov. Nathan Deal, State of the State Address, Jan. 10, 2012 "... I want to announce two ambitious goals. Georgians deserve a world-class, public medical university, and it will be a priority of this administration to have a medical college among the top 50 nationally. ... "... Also within this push, the Georgia Health Sciences University will seek to become the state's second National Cancer Institute designated Cancer Center ... This designation would mean greater access to research dollars and enhance our ability to recruit top cancer specialists. "... To support this goal of a second Georgia-based Cancer Center, my budget proposal includes an investment of $5 million. ... "... Businesses require a talented workforce and strong infrastructure, but they also require a business environment that allows them to compete in…

Maria Haley, the executive director of the Arkansas Economic Development Commission passed way Sept. 13 after suffering a brain aneurysm. The U.S. Commerce Department's Economic Development Administration announced Matthew Erskine will join the agency as the U.S. deputy assistant secretary of Commerce for Economic Development and chief operations officer. Tom Palisin has been named the acting deputy director of the Technology Investment Office at the Pennsylvania Department of Community and Economic Development. The University of Utah selected Bryan Ritchie to be the next director of its Technology Commercialization Office. Paul Washington has been named Denver's director of economic development. John Ryan has been named the director of the Vermont Agriculture Development Program. The new program will provide comprehensive technical support to help the state's value-added food enterprises manage their growth. Two administrators in Workforce Development & Continuing Education at Pennsylvania College of Technology have been appointed to assistant vice president positions. Larry Michael was named assistant vice president…

Proposals that promise job creation and economic growth have taken center stage in several state legislatures. Lawmakers who recognize the importance of R&D, tech commercialization, access to risk capital, and investment in higher education are fighting for passage of TBED-focused bills in the final months of their states' 2011 legislative sessions. A bill to revive the Missouri Science and Innovation Reinvestment Act, which failed in the legislature last year, recently passed the House with broad, bi-partisan support, restoring hope for the program that aims to grow science and technology companies. Meanwhile, two bills in Connecticut seek to boost technology transfer and lawmakers in Alaska and Florida are pushing for statewide R&D tax credits. An overview of select bills relating to TBED is included below. AlaskaGov. Sean Parnell is championing legislation aimed at stimulating private sector investment, entrepreneurial activity and business expansion by establishing a 20 percent tax credit for companies that conduct qualified R&D. The tax credits would be capped at $10 million under HB 118. ConnecticutTwo bills recently introduced in…

Vermont Gov. Pete Shumlin has released a jobs package that includes a number of initiatives that could enhance the state's innovation economy. The jobs bill calls for a new creative economy office that would focus on technology efforts, a mentoring program for entrepreneurs, a statewide internship program, and a tax credit for companies that hire STEM graduates. Gov. Shumlin also has renewed his predecessor's pledge to extend full wireless voice and data coverage across the state. The governor, announcing the jobs bill last week, said that the legislation is intended to help stimulate every sector of Vermont's economy. Accordingly, most of the bill's provisions benefit the state's agriculture and food industries. Several initiatives, however, specifically target manufacturing, high-tech businesses and entrepreneurship. The bill includes a tax credit for companies that employ recent graduates in science, technology, engineering and math fields. Vermont employers of qualified grads would be able to claim 50 percent of expenditures (up to $5,000 per year per new hire) toward relieving the student's debt. The graduate would be eligible to receive a $5,000 income tax…

The fourth installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Alaska, Delaware, Hawaii, Michigan, Missouri, Nevada, and Vermont. The first three installments are available in the Jan. 5, Jan. 12 and Jan. 19 issues of the Digest. AlaskaGov. Sean Parnell, State of the State Address, Jan. 19, 2011"That's why this year I know we can work together to enact the energy strategy that I've submitted. This comprehensive plan puts us on track to achieve the renewable energy goal we established, together, that Alaska will derive 50 percent of our electrical power from renewable sources by 2025. To get there, I'm asking you to move decisively and aggressively with me. Let's work together this year to invest at least $65 million to jump start planning, design, and permitting for the Susitna Hydro Project; provide at least $25 million for renewable energy grants ..." DelawareGov. Jack Markell, State of the State Address, Jan. 20, 2011"And to drive home the message that Delaware is the best place to start and grow a business, we must promote job-creating capital…