SSTI Digest

Gov. Jim Douglas plans to merge the Vermont Departments of Economic Development and Housing and Community Affairs.

The Complete description of this opportunity and others are available at http://www.ssti.org/posting.htm.

The Ben Franklin Technology Partners of Southeastern Pennsylvania is seeking a manager of program analyst development (PAD). This management position is responsible for performing economic research, developing metrics and other ad hoc reporting, managing database and PAD Unit staff members, and providing support for execution of new program initiatives. The position also is responsible for monitoring and knowledge of new funding opportunities, and for economic development proposal generation. Requirements include a BS/BA, preferable MBA or Masters degree in a related field and a minimum of two years experience in small business lending, investment or other financially-related experience.

Gov. Ted Kulongoski unveiled his fiscal year 2009-11 recommended budget this week, highlighting the need for targeted investments in nanoscience, manufacturing, and renewable energy research based on recommendations developed by the Oregon Innovation Council. The governor's plan aims to expand and diversify the state's economic base by attracting new industries and companies, building on the $28.2 million innovation plan signed into law last year (see the Aug. 1, 2007 issue of the Digest).

Due to overwhelming interest, SSTI's first poster session, held at SSTI's 12th Annual Conference in Cleveland mid October, is now available online 24 hours a day - 7 days a week. You can view more than 35 posters celebrating why states, regions, universities and related organizations engage in technology-based economic development (TBED).

Each poster profiles a success story providing hard evidence of how TBED investments are sustaining the nation's position as a global leader for innovation and competitiveness -- one local or regional project at a time. The impacts shown are a direct result of the assistance provided by SSTI member organizations.

Throughout the presidential campaign President-elect Barack Obama continually emphasized the need for new policies to spur the development of clean and renewable energy technologies. Despite the economic downturn, President-elect Obama has maintained that these new programs will remain a priority for his administration. A key plank of his energy plan is the implementation of a national cap-and-trade program to reduce greenhouse gas emissions by 80 percent by 2050. 

If the fifth biennial assessment of U.S. higher education prepared by the National Center for Public Policy and Higher Education had to fit on an early elementary school report card, it might very well read "Shows effort, but not keeping pace with the rest of the students."

Measuring Up 2008 first looks at national higher education performance compared against other countries and finds the traditional leadership role of the U.S. eroding in many categories: percent of 18- to 24-year-olds enrolled in college; college completion rates (never a U.S. strength, the report points out); and percent of 25- to 34-year-olds with associate degrees or higher.

North Carolina's $1.2 billion dollar investment in bioscience over the past decade has helped to build a $45 billion dollar a year industry in the state, according to a new study released by the North Carolina Biotechnology Center. The report finds that North Carolina's bioscience employment numbers have grown 18.5 percent since 2001, the fastest in the nation. Much of this growth has been fueled by increased activity in research, testing and medical labs and in the agricultural feedstock and chemicals subsector. 

Incubators may take on magnified importance in regional innovation strategies for the coming years given the continued decline in seed and venture capital available to early-stage companies, the need for startups to reduce costs, and the increased opportunities presented for innovation through collaboration and sharing of knowledge.

So it isn't too surprising to see the wave of incubator launches increase during this financial slowdown.

A new incubator can take several tacks toward filling its walls. Often the strategy toward defining target tenants depends on the assets of the community. A generalized incubator could be well suited to an area short on affordable space for start-ups in need of shared general business services.

On December 9, two NIST programs will be hosting a meeting to explain how businesses can better take advantage of them. Officials from the Technology Innovation Program (TIP) and the Manufacturing Extension Partnership (MEP) will provide an overview and discuss future directions for the programs. SSTI is co-hosting the meeting because we see it as an excellent opportunity for TBED organizations and their clients to learn more about and provide input on programs that could see dramatic increases in funding in an Obama administration.

The meeting will explore important topics, including: funding opportunities for businesses and joint ventures through TIP, explaining what "areas of critical national need" are and how companies and TBED groups can contribute, and exploring the Next Generation MEP including growth services, technology acceleration, supplier development, and sustainability.

Gov. Bill Ritter announced his administration's plan to inject $12 million into initiatives that promote job training, provide small businesses with access to capital, and invest in the state's New Energy Economy and bioscience sectors.

The proposals were outlined as part of the governor's fiscal year 2009-10 budget recommendations earlier this month, which includes nearly $5 million for economic development initiatives in the upcoming fiscal year and another $7 million contingent upon budget reserves in 2010.

While which states top the list in the 2008 edition of the State New Economy Index will capture the attention of the media and therefore the majority of decision makers, the most important contribution of the 2008 Index in the current fiscal environment is its overview and final chapter. The Index, released Nov. 18 by the Information Technology and Innovation Foundation and the Kauffman Foundation, goes beneath and well beyond the results of the 29 indicators to explain the need for fundamental change to how states and regions approach economic development. The final chapter goes a step farther and identifies key strategic shifts required to address the challenges of the New Economy.

As state budgets reel from the fallout of the financial crisis, the authors warn:  "If states are going to meet the economic challenges of the future, they will need to make the promotion of innovation a larger part of their economic development policy framework."  

To attract and grow high technology businesses and streamline its economic development efforts, a task force created in 2007 to study economic competitiveness in Arkansas recommends the state remove its constitutional prohibition on state equity investments in private companies and co-locate its three economic development agencies.

The final report of the Task Force for the 21st Century released its recommendations to Gov. Mike Beebe and the legislature last month, which complement the 2008 Accelerate Arkansas strategic plan.