SSTI Digest

We've all heard politicians overhype a development project — it could be the recruitment of a large manufacturer or a new economic development-related public initiative. We cringe as the figures are often unrealistic, under-researched or over-multiplied. A front page article in a recent Wall Street Journal (subscription required) highlighted this problem quite plainly. Public radio program, This American Life, thought it worth an entire hour-long episode.

The Obama administration, congress and the private sector must implement a comprehensive policy package to unleash startups and empower small businesses, according to a newly released report, Taking Action, Building Confidence, from the President's Council on Jobs and Competitiveness. The report outlines a three-phase approach to accelerate short-term job growth, while rebuilding long-term U.S. competitiveness:

In what is considered typical for an odd-numbered year, only 34 questions have been certified in nine statewide ballots this election year. Some of those measures include redirecting funds to support higher education, revenue enhancements for states, and repealing legislation that limits collective bargaining for public employees.

Ballot Initiatives

ColoradoVoters in Colorado will decide on a measure to increase the state income and sales tax to 5 percent and 3 percent, up from 4.63 percent and 2.9 percent, respectively. Reports estimate the measure would generate about $3 billion to help fund education. The measure is Proposistion 103.

The Office of Science and Technology (OSTP) is soliciting advice on how to best stimulate job creation through investments in biological research and development. In a new Request for Information (RFI), OSTP asks for input on national challenges related to biotechnology research, eduction, entrepreneurship and partnerships. Submissions, which are due by December 6, 2011, will help shape the administration's bioeconomy strategy.

Last month at the signing of the America Invents Act, President Obama announced that the administration would develop a long-term roadmap to address national challenges in health, energy and agriculture. The resulting National Bioeconomy Blueprint is expected by January 2012.

OSTP is requesting input in the following areas:

A newly established policy academy providing guidance and technical assistance will help seven states improve their environment for innovation and align state R&D investments, workforce development and education systems with current and future needs of advanced manufacturing industries. The policy academy will help each state develop a plan or overcome barriers for putting a plan into action through a highly interactive team-based process that includes input from NGA, MEP, EDA, SSTI, private sector consultants, and research organizations. Participating states include Colorado, Connecticut, Illinois, Kansas, Massachusetts, New York, and Pennsylvania. Ideas and strategies resulting from the academy's work will serve as models for all states. NIST, MEP and EDA are providing funding, leadership and technical assistance to the National Governors Association Center for Best Practices. Learn more...

Michigan State University, Rutgers University and the University of Michigan all have announced new initiatives that are intended to fuel innovation and grow regional economies. Michigan State established the University Center for Regional Economic Innovation — a university-based, economic development research center focused on generating businesses and jobs statewide. Rutgers University created a Disruptive Innovation Fund to provide up to $1 million to support the commercialization of innovative products. The University of Michigan's Michigan Investment in New Technology Startups initiative will invest directly into U-M startup businesses.

A coalition of private businesses and nonprofit organizations, including Microsoft, Best Buy, the Boys and Girls Club and the National Urban League, has launched a new initiative to increase broadband adoption and teach technology skills. The new Connect to Compete initiative, which will be managed by One Economy, will deploy a variety of digital training resources, courses and tech jobs matching programs beginning next year. Earlier this year, U.S. Federal Communications Commissioner (FCC) Julius Genachowski issued a call for digital skills training to help bridge the broadband gap and to connect American workers with jobs that require basic computer knowledge. The FCC plans to launch its own "Digital Literacy Corps" in the near future. Learn more about Connect to Compete...

As budgets for economic development tighten across all sectors, measuring and reporting impact becomes even more crucial for sustaining support. The Association of University Research Parks points to three impressive impact reports released this year from Indiana's Purdue Research Park, Nebraska Technology Park and North Dakota State University Research and Technology Park.

The Purdue study found the park network is responsible for a $1.3 billion annual impact for the state and more than 4,000 high-quality jobs paying an average annual salary that is 65 percent higher than the state's average. In Nebraska, researchers found the University of Nebraska Technology Park has an estimated $589.6 million annual impact on the state's economy, and North Dakota State University Research and Technology Park generates $10.9 million annually for local and state governments.

SSTI has compiled below recent announcements for development of tech parks from states including Alabama, Connecticut, Florida, Maryland, South Carolina, and West Virginia.

Job CornerThe Invest Nebraska Corporation is hiring a CEO to join their team in Lincoln, NE. The CEO will manage Invest Nebraska's programs throughout the State of Nebraska. Invest Nebraska Corporation is a private, nonprofit venture development organization focused on developing high-growth companies in Nebraska and growing the state's economy.

Baylor University currently is accepting applications for the position of director, BRIC Innovative Business Accelerator. The Baylor Research and Innovation Collaborative is a 300,000-square-feet facility housing university and industry collaborative research, advanced manufacturing and high technology workforce development, symposia meeting and conferencing space, and the business incubator. The BIBA director will manage university and external business support organizations to leverage business start-up competitive status

Wisconsin Gov. Scott Walker is the latest governor to call a special session focused on economic development proposals he says will create jobs (see the Sept. 7, 2011 issue of the Digest). Gov. Walker issued the executive order last week, calling it a "Back to Work Wisconsin" special session.

Among the proposals lawmakers will consider is the creation of a grant fund to provide capital for biotech companies by allocating and reinvesting a portion of the growth in income taxes from the bioscience industry into new tech firms. The Next Generation Jobs Act (LRB 2861) creates both a reserve fund and a 12-member board to make the grants, issue loans, and make direct investments in bioscience businesses headquartered in Wisconsin. The fund would be capped at $50 million annually and $500 million over the 15-year life of the program.

In 2011, the nation's city finance officers report that the fiscal condition of cities has continued to weaken and placed pressure on cities to cut spending on personnel, infrastructure investments and key services, according to a new research brief, City Fiscal Conditions Survey: 2011, from the National League of Cities (NLC). The results were taken from a survey of over 270 city finance officers from across the United States. The authors contend that sagging local and regional economies, characterized by struggling housing markets, slow consumer spending and high levels of unemployment, are driving the decline in city revenues necessitating the budget cuts. Several key findings from the 2011 survey include:

The New England Clean Energy Foundation (NECEF), in partnership with the Connecticut Clean Energy Finance & Investment Authority, announced a new initiative to spur innovation and research in clean technology across New England. According to the Boston Business Journal, The New England i6 Green Program leverages a $1.25 million i6 Challenge award from the U.S. Department of Commerce's Economic Development Administration and an additional $1.65 million raised by over 40 partner organizations (e.g., state agencies and nonprofit organizations) to fund a consortium aimed at addressing the region's gaps in the current clean energy innovation ecosystem through a combination of capacity- and network-building. NECEF's i6 program initially will be tasked with two responsibilities: