SSTI Digest

Investments in innovation, research, education and other technology-based economic development priorities have been receiving considerable amplification since President Obama took office last year. For the past 18 months, the key agencies that support R&D and TBED initiatives have been promoting the need to move federal investments in economic development and research more toward innovation. The question is: will the White House Office of Management and Budget (OMB) let that happen?

OMB issued two memoranda on June 8 that present significant challenges to affecting real change in federal economic development priorities and launching any new programs. Reining in the federal deficit will require significant cuts in spending. The cuts that begin in FY12 should be done surgically rather than across-the-board, OMB asserts.

Colorado Gov. Bill Ritter recently signed legislation to fund initiatives around the state preparing workers for the clean energy economy. The Green Jobs Colorado Program bill, originally proposed last year by Gov. Ritter, was included in a package of sixteen clean energy related bills passed state legislature in May. Gov. Ritter believes that this package of bills will position Colorado as "a national leader in New Energy Economy."

A new Georgia center features a variety of resources to assist life science entrepreneurs. The Georgia Bioscience Commercialization Center, funded by Georgia Bio and the Georgia Research Alliance, offers incubation space, counseling for experienced bioscience executives, entrepreneur education, and connection to TBED organizations around the state. Read more ...

Citing further damage to the state's reputation as a place to do business, Lt. Gov. James "Duke" Aiona, vetoed SB 2401, a measure to suspend Hawaii's high-tech tax credit, which provides a 100 percent refundable tax credit for investments in qualified high-tech businesses. Lt. Gov. Aiona also challenged the legislature's assertion that the bill would have saved the state $93 million a year, stating that it was uncertain whether revenues from the measure could have been counted toward the state budget because a number of investors and businesses likely were to challenge the measure in court if it became law, according to a press release. Lt. Gov. Aiona is acting governor while Gov. Linda Lingle travels overseas. Read the veto letter: http://hawaii.gov/ltgov/news/files/2010/SB2401%20-%20SOBJ.pdf

In support of President Obama's Educate to Innovate campaign, NASA launched a new STEM education initiative on June 10. NASA's Summer of Innovation provides thousands of middle school teachers and students the opportunity to participate in evidence-based summer learning programs in the math and sciences. These multi-week math and science-based pilot programs will occur through the summer at locations across the country. The program's goal is to cultivate a new generation of aspiring scientists, mathematicians, and engineers with an emphasis on increasing the participation of low-income, minority students. The program also will include flagship events and design competitions open to students and teachers nationwide.

Sponsorship opportunities are designed to help your organization build awareness and develop beneficial relationships with the nation's top state and regional tech-based economic development decisionmakers.

You can join with our great sponsors already onboard to take advantage of this powerful networking and outreach opportunity by contacting Noelle Sheets, SSTI director of membership services, at sheets@ssti.org or 614.901.1690. Please contact SSTI as soon as possible to request the 2010 sponsorship benefit information, as all national sponsorship opportunities are on a first-come, first-served basis. The deadline for inclusion in the conference brochure is June 30.

SSTI's 14th Annual Conference, Accelerating Innovation: The Road Ahead for Tech-based Economic Development will be held Sept. 14-16 in Pittsburgh.

SSTI would like to thank our current National Sponsors:

 

"In order for educational programming in science and technology to be transformative, it must be comprehensive, sustained, and authentic." - Susan Palisano

Click here to listen to SSTI's Interview with Susan Palisano of the Connecticut Center for Advanced Technology (CCAT)

After failing twice in the U.S. House of Representatives, the reauthorization of the America COMPETES Act passed with a 262-150 vote . The final House version includes the full five-year reauthorization and the increases in authorization levels for the National Science Foundation, the National Institutes of Standards and Technology, and the Department of Energy Office of Science over the next three years that were removed in previous version of the bill.The bill is expected to marked up in the Senate Commerce, Science and Transportation Committee in the next few weeks, and to come to the Senate floor before the July 4 recess. Read the House committee press release ...

Florida's FY11 budget, signed into law last month by Gov. Charlie Crist, replenishes the Innovation Incentive Fund with $75 million. The recruitment fund was immediately tapped by lawmakers for $50 million toward enticing Maine's Jackson Laboratory to open a branch in Collier County, leaving $25 million for other major R&D projects and create high wage jobs throughout Florida. The state has promised the Jackson Lab project an additional $80 million over the next three years if developed.

The $75 million FY11 appropriation for the Innovation Incentive Fund is contingent upon passage of increased federal Medicaid funds to the states, however.

Established in 2006, the Fund is responsible for attracting some of the most recognizable life sciences institutions, including the Burnham Institute for Medical Research, SRI International, and the Max Plank Society. The newest recruit, Maine-based Jackson Labs, specializes in genetics research. A 14,000-square-foot research institute that could break ground as early as fall is planned for the Florida branch, reports Marco Eagle.

Maryland Governor Martin O'Malley recently announced a new effort to direct $100 million to public and private venture capital investors. The InvestMaryland program would offer insurance companies tax credits to generate the funds, which would either be invested directly in startup companies or in private venture firms. Governor O'Malley's current proposal would provide $50 million to the Maryland Venture Fund and the other $50 million to venture capital firms. The state's Department of Business and Economic Development plans to work with legislators, businesses and universities to draft a bill for next year's legislative session.

Four bond issues totaling $108.3 million appear headed for passage by voters following the primary election yesterday. Two of those measures are aimed at job creation efforts through capital investments, funding for R&D, and renewable energy measures. The Associated Press has projected the $23.75 million economic development bond as winning with a narrow lead of 51-49. The energy bond is passing with 59 percent of the vote.

With the passage of Question 2, voters will approve $4 million for the Small Enterprise Growth Fund to provide Maine companies and entrepreneurs access to sources of capital and $3 million to be matched with private funds for R&D and commercialization activities administered by the Maine Technology Institute. Small businesses, grants for food processing for fishing, agricultural, dairy and lumbering businesses, and redevelopment projects at the Brunswick Naval Air Station also are funded through the bond.

After at least 40 states made mid-year budget cuts in FY 2010 totaling $22 billion, the prospect for rosier times is after 2012, according to the latest biannual Fiscal Survey of the States conducted jointly by the National Governors Association and the National Association of State Budget Officers. The midterm cuts meant states' spending was reduced from $687.3 billion in FY 2008 to $612.9 billion in FY 2010 — at the same time mandatory spending continued to increase. The report indicates FY2011 will be challenging for many states, in spite of modest revenue growth.

"Because states lag behind national recovery, they expect 2011 to be as bad as 2010, and states will not begin the path to recovery until 2012," said NGA Executive Director Raymond C. Scheppach. NGA and NASBO expect states not to see 2008 revenue levels until 2013 at the soonest.

The Survey is available here: http://www.nga.org/Files/pdf/FSS1006.PDF