SSTI Digest

Gov. Jim Douglas last week signed a jobs bill that distributes $8.7 million in federal stimulus funds to help seed high-tech entrepreneurial ventures, increase broadband access across rural areas of the state, train workers for careers in emerging sectors, and provide low-interest rate subsidies on loans approved under the Vermont Jobs Fund. The bill appropriates $750,000 to the Vermont Seed Capital Fund established last year to accelerate job growth by helping emerging companies overcome a gap in financing. This appropriation is in addition to $1 million from the state's Clean Energy Development Fund for a total $1.75 million in FY11. Funding is targeted toward sectors with high-growth potential such as life sciences, agriculture, energy, software and manufacturing. Over two years, the fund has been capitalized with nearly $5 million in state and federal monies. The Vermont Telecommunications Authority will receive $2.85 million to make broadband services available to households and businesses in rural areas. Another $1 million is included for the Vermont Jobs Fund to provide low-interest loans and $950,000 is appropriated to the Department of Economic, Housing, and…

Earlier this month, Gov. Jim Douglas announced a plan to use $8.7 million in federal stimulus funds for job creation programs, including broadband infrastructure, low-interest loans and workforce training. Many of the proposals mirror last year’s SmartVermont plan, a proposal rejected by lawmakers that would have leveraged federal funds to provide $17.2 million for statewide economic development. (see the June 3, 2009 issue of the Digest). Major components of the new jobs bill include $3.2 million to the Vermont Telecommunications Authority (VTA) to help construct “last mile” telecommunications infrastructure to rural areas, $2 million for the Vermont Economic Development Authority to lower the interest rate of the loans it makes to Vermont companies, and $1 million to the Vermont Training Program for workforce training. Missing from the new package are many of the tech-based elements proposed last year, such as seed capital for entrepreneurs and funding for incubation facilities and high-tech training (See the April 1, 2009 issue of the Digest). The governor’s capital budget provides further support for the e-State Initiative, dedicating $…

Entering its tenth year covering governors’ State of the State, Budget and Inaugural Addresses, SSTI’s Tech Talkin’ Govs series highlights new and expanded TBED proposals from across the nation. The first edition includes excerpts from speeches delivered in the following states: Arizona Gov. Janice Brewer, State of the State Address, Jan. 11, 2010 “… I am taking the following specific actions to make Arizona even more competitive in creating jobs. First, I am announcing the formation of a Governor's Jobs Cabinet. This team of key state agency directors will cut through the red tape and the green tape to speed job creation. “Second, I will be allocating a significant portion of remaining federal stimulus funds directly to bring new jobs to Arizona. Specifically, I am devoting $10 million in one-time federal stimulus funds for job training. … “… Third, under the leadership of Jerry Colangelo and Commerce Director Don Cardon ... I have created the Governor's Commerce Advisory Council. Working with other Arizona business leaders, they will transform the Department of Commerce into…

In a special session on Tuesday, the Vermont Legislature enacted the state's FY10 budget, overriding last week's veto by Governor Jim Douglas. The budget eliminates or reduces funding for many programs related to economic development and TBED, cutbacks which were cited as concerns by Gov. Douglas in his veto announcement. The $4.5 billion budget includes $4 million in economic development incentives to be administered through the Vermont Economic Development Authority (VEDA), significantly less than the $11 million proposed by the governor. The Vermont Telecommunications Authority (VTA) will receive only $500,000, which the governor says will effectively shut down the organization by September. VTA has played an integral role in the state's unfinished plan to provide border-to-border cell phone and wireless data access. Funding has been zeroed-out for the Next Generation program, which provided support for college scholarships and workforce training, including technology-related internships. Also left out of the final bill is Gov. Douglas' SmartVermont plan to leverage federal stimulus funds, which would have provided $17.2 million for…

Vermont Governor James Douglas has released a plan to spend some of the state's share of funds from the federal American Recovery and Reinvestment Act on building a stronger base for technology-based growth. The $17.1 million SmartVermont suite of proposals includes funding for technology company loans, lending to small businesses, seed capital for entrepreneurs and support for regional economic development projects. Governor Douglas' office estimates that the investment would attract another $140 million in private capital to support the state's economic development goals. The Vermont Economic Development Authority (VEDA) would house most of the new and expanded programs covered in the SmartVermont plan. A new Technology Loan program at VEDA would use a $1 million investment from the ARRA funds to secure up to $6 million in loans and attract an additional $4 million in private capital for high-tech companies. These loans would target strategic industries and expansion projects to further the state's economic development goals. A new VEDA seed capital fund would help seed and startup stage companies obtain early-stage capital. The plan calls for $4 million in…

As governors across the nation seek to fill record deficits, many new and longstanding TBED initiatives are facing challenging cuts or elimination. At the same time, governors are shoring up support for critical, targeted investments in the economy that they say are needed now more than ever. Using the platform of the state of the state, budget and inaugural addresses, several governors have announced new or increased investments in workforce innovation, bioscience, and alternative energy (see the Jan. 7, 14, and 21 issues of the Digest). Summarized below are executive recommendations from budget proposals in Georgia, Idaho and Vermont outlining new plans and proposed cuts to ongoing TBED efforts. GeorgiaGov. Sonny Perdue unveiled his fiscal year 2010 budget earlier this month alongside a $1.2 billion bond proposal focusing on infrastructure projects to boost the state's economy. The governor is seeking to fill a projected $1.2 billion deficit in the current fiscal year. Within the Board of Regents, the Research Consortium would be reduced by $9.2 million in FY10. This includes elimination of funding for the Traditional Industries Program ($3.1 million…

The second installment of the Tech Talkin' Govs series includes highlights from state of the state, budget and inaugural addresses delivered by the governors of Arizona, Colorado, Georgia, Idaho, Kansas, Mississippi, New Hampshire, Oregon and Vermont.  Arizona  Gov. Janet Napolitano, State of the State Address, Jan. 9, 2009 "Arizona must stay on the path toward a greener future..We also must work to limit our greenhouse gas emissions through the Western Climate Initiative, and move forward in building a strong renewable energy sector, particularly with respect to solar energy. The entire nation is going in this direction - and Arizona has much to gain by being a leader." Colorado  Gov. Bill Ritter, State of the State Address, Jan. 8, 2009  "By reviving the Colorado Credit Reserve Program, we can give thousands of small businesses vital access to credit and capital. .. ". By enacting House Bill 1001, the job-creation tax credit I announced last month, we can level the playing field with other states when it comes to attracting new companies and new jobs. ... …

Gov. Jim Douglas recently announced Vermont will roll out a suite of grants and incentives to strengthen the state's software industry. The initiative includes state-funded low-interest loans to software businesses, employment growth incentives and a tax credit for software research. In his unveiling of the software initiative at Champlain College's new Emergent Media Center, Gov. Douglas explained that state agencies will use these new measures in conjunction with the Center to help build a local software development cluster. Under the new initiative, the state will provide $150,000 to the Vermont Center for Emerging Technologies to support student entrepreneurs. The money will fund three low-interest loans to help state university and college students start new software design companies. A $47,000 grant to the Vermont Software Developers Alliance, the statewide software trade association, will help provide support for existing businesses.  Gov. Douglas also announced his intention to expand Vermont's Employment Growth Incentive. The change will expand the cash incentive to companies that create new software jobs. Vermont's Department of Labor will start…

Armed with professional advice from mentors in scientific fields and free access to sophisticated design and engineering software, teachers and students from Hawaii, Kansas, Minnesota, Oklahoma, Vermont and Virginia will participate in a national competition to solve a real-world engineering challenge defined by the aviation industry.   The idea behind the U.S. Department of Energy’s (DOE) Real World Design Challenge is to create a pipeline of highly qualified workers by preparing high school students for careers in science, technology, engineering and mathematics (STEM) fields based on issues facing high-tech and defense industries.   Ralph Coppola, director of Worldwide Education for Parametric Technology Corporation, said many aerospace and defense companies that work as contractors to national security agencies are concerned the U.S. is not producing enough qualified workers who must be able to work on both the defense and commercial side. A survey conducted with these companies in the Northeast found 54 percent of the workforce is 45 years or older and one-third are eligible for retirement today. At the same time, engineering…

It's no wonder SSTI's Annual Conference presents such a broad range of perspectives and approaches to TBED each year, when our organization draws in active membership from organizations from all across the continent! For example, with the involvement of the Alaska Manufacturing Extension Partnership, SSTI now has active members in 47 states, the District of Columbia, and Canada. Membership allows access to the most comprehensive information about tech-based economic development activities across the nation. Our members tell us that one of the greatest benefits of membership is the ability to turn to SSTI when seeking answers to questions or advice on programs. Having answers to our member’s questions and finding the information they need is our top priority. Additional information regarding membership benefits is available at http://www.ssti.org/benefits.htm. SSTI Welcomes Newest Members State Sponsors Tennessee Technology Development Corporation Utah Science Technology and Research (USTAR) Vermont Department of Economic Development Affiliates Alaska Manufacturing Extension Partnership Detroit Renaissance…

State universities and research programs depend on public support to develop and commercialize new technologies, but the actual science involved in these discoveries can seem intimidating and arcane to the layman. How then should a state go about engaging the public in scientific research?   To address the issue, Vermont Public Television and Vermont EPSCoR have joined forces to launch a new television series that will introduce Vermont residents to the research and innovations being developed in the state's universities and labs. The program, Emerging Science, will explore the work of Vermonters engaged in scientific exploration and highlight the successes of the state's scientific community. Each episode will feature a developing scientific field, including nanotechnology, global climate change and remote sensing.   Vermont Public Television plans to issue eight short weekly podcasts on its website leading up to the April launch of Emerging Science. One can subscribe to these podcasts through iTunes or watch previews of the episodes at: http://www.vpt.org/programs/emergingscience.html  …

In an era in which many companies maintain a web presence before their first technology hits the market, broadband access has become an essential ingredient for high-tech business and growth. In many states, however, the need for broadband access has widened the high-tech achievement gap between urban and rural areas. Without high-speed connections, many students in rural areas are unable to gain the skills needed by technology-based companies, and many rural businesses find it difficult to compete without access to advanced web-based resources.   Universal access to high-speed broadband access has become something of a holy grail, not yet attained by any state. In order to spread the benefits of high-speed connections, several states have recently launched initiatives to ensure that even businesses in the most remote regions have access to online resources.   Vermont Vermont Gov. Jim Douglas believes that universal wireless broadband access could revolutionize telecommunications, education and business in his state. In his inaugural address earlier this year, the governor announced a plan to make Vermont the…