SSTI Digest

The Grand Forks Region Economic Development Corp. has named Klaus Thiessen as its new president.

In the final week of its 2003 Legislative Session, the North Dakota State Legislature passed sweeping legislation that favors tech-based economic development in the state. The Greater North Dakota Association (GNDA), serving as the state's Chamber of Commerce, subsequently issued a summary of those bills targeted toward job growth. Some highlights of GNDA's summary are presented below: Increased options for early-stage financing for new businesses by allowing the Bank of North Dakota to invest up to $5 million in North Dakota alternative and venture capital investments (SB 2335). Also, expanded access and funding by $5 million for an established venture capital pool for beginning entrepreneurs (SB 2259); Expanded an existing program that provides tax credits to encourage people to invest in North Dakota businesses (HB 1019); Provided $2.6 million for workforce development and training to support job growth in new and existing businesses (HB 1017 and HB 1020); and, Established accountability measures to evaluate the effectiveness of the state’s economic development…

To build the state’s economy and create opportunity, North Dakota Governor John Hoeven is launching Smart Growth, a host of programs linking education, job creation and career development to build the state’s economy and communities. The Governor announced his plan with release of the 2003-2005 executive budget. Smart Growth includes funding for these initiatives: Full implementation of the higher education roundtable, a forum for making recommendations that will enable universities to leverage state resources with private sector and federal research dollars. Three new venture capital funds: Centers of Excellence Fund - a $5 million fund to help create job opportunities through research and education on North Dakota campuses; New Venture Fund - a $10 million fund to help finance new and existing businesses; and, Seed Capital Fund - a $1 million source of financing to help entrepreneurs in the earliest stages of business creation. An increase in teacher compensation of $4,500 for every teacher in North Dakota. A North Dakota Business…

The U.S. Small Business Administration has named Heath Copp as the Young Entrepreneur of the Year. Mr. Copp, 24, is a resident of Grand Forks, North Dakota.

In March, the North Dakota Department of Economic Development and Finance (ED&F) named Jim Hirsch director of workforce development.

SSTI extends its congratulations to Bruce Gjovig, Director of the Center for Innovation in Grand Forks, North Dakota, for his induction into the North Dakota Entrepreneur Hall of Fame. 

In an effort to provide quality, high-speed telecommunications services throughout the state, North Dakota has committed $3 million for the first phase of a broadband telecommunications network that is expected to cost the state $20 million when completed. When the first phase is finished later this year, 218 locations in 64 communities will be connected. “When complete, North Dakota’s network will provide the greatest universal access to high-speed telecommunication services of any rural state in the nation,” according to a Governor’s Office press release. The initiative has three goals: To design and implement a network that meets the needs of government and education To reduce telecommunicate rates by aggregating public demand To promote economic development by making broadband service more widely available The first 218 locations to be connected include state and local government agencies, colleges, and local schools. While the network is initially intended for public sector use, businesses and individuals are expected to eventually be able to buy access. …

While many states are adding multi-million programs to their science and technology portfolio, state-led S&T efforts in much of the North Central United States are still suffering. The latest example was the elimination of North Dakota’s two largest programs this summer. Technology Transfer, Inc. (TTI) and the North Dakota Manufacturing Technology Partnership were closed effective June 30. Staff for the state’s Department of Economic Development & Finance, which inherited administration and oversight of TTI’s outstanding projects, was cut by 30 percent as well. Technology Transfer, Inc. was a nonprofit corporation established by the state in 1991 to foster the innovation and commercialization of new technologies. TTI was the only state-based resource in North Dakota for high-risk R&D funding. Project funding of up to $100,000 was available to companies with marketable ideas for products or manufacturing processes. Repayment of TTI funds was to be made through royalties if the product or process was commercialized successfully. Along with TTI’s portfolio, the North…