SSTI Digest

Fifteen communities across the U.S. recently were selected to implement health information technology (IT) infrastructure and servicing as part of an overall $100 billion federal investment in science, innovation and technology through the American Reinvestment and Recovery Act. These pilot communities will receive a total $220 million for projects that include providing better control of blood pressure for diabetic and hypertensive patients, improvements in care coordination and chronic disease management, and reductions in preventable emergency department visits and re-hospitalizations. The goal of the Beacon Community program is to demonstrate that widespread adoption of health IT and exchange of health information is both feasible and improves care delivery and health outcomes, which in turn is expected to facilitate job creation in emerging industries. Read the announcement ...

A coalition of twelve private foundations will contribute $506 million to support U.S. education innovation and reform efforts. A portion of the contribution will be designated to match funds from the U.S. Department of Education's Investing In Innovation Fund (i3), which offers grants to local agencies, nonprofits and school districts to support innovative education initiatives. Find out more about the fund ...

During the first year of the current U.S. recession, the bioscience industry continued to create jobs, according to a recent report from the Battelle Memorial Institute and the Biotechnology Industry Organization (BIO). While overall employment fell by 0.7 percent in 2008, U.S. bioscience employment grew 1.4 percent. Though the authors acknowledge that the full impact of the crisis was not felt until 2009 (for which employment data is not yet available), evidence indicates that biotech companies were not as negatively affected as other firms. In fact, several performance indices of publicly-traded biotech companies indicate that the industry has grown since October 2007, something no other sector in S&P 500 has done.

Between 2001 and 2008, bioscience employment grew 15.8 percent, 4.5 times more than the overall economy. Bioscience wages also are outpacing national private sector wage growth. Since 2001, real earnings in the bioscience industry have increased 10.1 percent, reaching $77,595 in 2008. Other private sector jobs grew only 3.2 percent during that period.

A recent report from the National Science Foundation (NSF) shows that funding for general science and basic research grew by 17.5 percent between 2008 and 2010. The report divides federal R&D funding into 20 categories defined by their function. Basic research comprises 7.2 percent of the proposed FY10 budget, up from 6.2 percent in the actual FY08 budget. Meanwhile, national defense, the leading target of federal R&D funding, dropped from 59 percent of total funding to 57 percent. Read the report ...

Kentucky Governor Steve Beshear will host a conference sponsored by the Southern Technology Council exploring changing consumer demands and global competitions in the Southern automotive industry. The conference, titled Driving the Next 20 Years: Creating the New Automotive Industry in the South, will feature speakers from Toyota, Ford, Daimer and Nissan and panel discussions on auto R&D, site location and supporting the industry. The event will be held June 7-8 in Lexington, KY. Read more about the conference ...

A nationally recognized nonprofit organization creating economic transformation in Northeast Ohio, JumpStart Inc. provides resources to entrepreneurs leading high potential, early-stage companies. JumpStart CEO Ray Leach discusses how the organization has successfully partnered with regional organizations and philanthropic institutions to achieve its tremendous success. Download the interview ...

Automation Alley in Troy, MI is seeking a business accelerator client coordinator. Some of the responsibilities include managing business accelerator client process from intake to referral and ongoing client support, coordinating with shared services for administrative functions and maintaining accurate SalesForce information for all clients.

"It is just as important to tell the community and your stakeholders what you are doing as it is doing it." - Ray Leach

Click here to listen to SSTI's Interview with Ray Leach of JumpStart SSTI has an effective new learning tool for TBED policymakers and practitioners seeking guidance in approaches to building and sustaining tech-based economies. Through exclusive interviews with Excellence in TBED Award recipients, find out first-hand how these award-winning initiatives successfully responded to a critical need by applying innovative approaches to generate substantial economic gains for their region.

On Tuesday, voters approved a four-year, $700 million bond to extend funding for the Ohio Third Frontier initiative through 2016. Established in 2002, the initiative offers programs for emerging and established high-tech companies, including grants for pre-seed funding, research initiatives, product development and commercialization.  Read more about the program ...

A competition aimed at helping move innovative ideas from the lab into the marketplace was announced this week by the U.S. Department of Commerce's Office of Innovation and Entrepreneurship and Economic Development Administration (EDA). In partnership with the National Institutes of Health and the National Science Foundation, EDA will award $1 million each to six teams across the nation with the most innovative ideas to drive technology commercialization and entrepreneurship. NSF will award $6 million to SBIR grantees associated with the winning teams. Aiming to drive regional economic growth, the "i6 Challenge" is designed to highlight successes and accelerate technology commercialization. Entrepreneurs, investors, universities, foundations and nonprofits are eligible to apply. A conference call for potential applicants will be held May 17; applications are due July 15. More information is available at: http://www.eda.gov/i6.

During the debates over the Patient Protection and Affordable Care Act, also known as the Health Care Reform Bill, there was much discussion of whether or not reform would hinder innovation in pharmaceuticals and medicine. As a result, the final legislation included some measures to support research and commercialization in the life science. One such measure, the Therapeutic Discovery Project Credit, offers a 50 percent tax credit or cash grant for qualifying research projects and small- and medium-sized companies. Although many details remain unclear, the credit will, at least, apply to projects undertaken during the 2009 and 2010 tax years.

The 50 percent credit is intended to limit tax liability for biotech companies and their investors. A cash grant is available for companies with no tax liability, or whose liability is less than the amount of the credit.

The legislation authorizes $1 billion in tax credits and grants for the two years of the program. Only companies with 250 employees or fewer may apply. Three types of research projects may qualify for the credit. These include:

Florida lawmakers last week approved SB 1752, a package of economic development incentives for industry sectors, including aerospace and small business, to promote immediate job creation and long-term economic growth. Funding for research commercialization matching grants and space industry business development are among the new incentives. The bill carries a $200 million price tag spread over the next three years, reports the Associated Press.

Funding and incentives are spread across the state's economic development programs, small business and space industry sectors, rural communities and unemployment, and the film and entertainment industry. Tech-based economic development components are focused mainly within the small business assistance and space industry development priority areas. The bill provides $11.9 million in assistance to small businesses, including: