SSTI Digest

Most countries have dramatically increased their investments in R&D over the past two decades, with OECD nation spending reaching a record high nearly $1,600 of gross domestic expenditure on R&D (GERD) per person in 2023 (PPP[1] converted), approximately triple the value recorded in 2000. Although the U.S. has an extremely strong R&D output, relatively smaller economies, like Israel and South Korea, lead when expenditures are standardized for better comparison across nations. This edition of Useful Stats uses internationally comparable figures from the OECD’s Main Science and Technology Indicator (MSTI) database to benchmark R&D performance across OECD nations in both per person PPP-adjusted dollars and as a share of gross domestic product (GDP). Examining the data in this manner provides potential context for understanding the priority countries set for becoming more research-intensive and, perhaps, more innovation-centered in future economic growth. Refer to the OECD’s website here for notes on the data and metric definitions. International overview of GERD In 2023, of the OECD nations with available data, Israel had the largest GERD value…

A recently published InfoChart from the National Center for Science and Engineering Statistics (NCSES) presents an annotated walk through federal R&D obligations from FY 1951 through 2024, explaining key events influencing key moments in the surges and downswings along the nation’s path to supporting discovery, research, development and innovation. The data is presented in constant 2017 dollars.  Over SSTI’s 30-year history, it has seen federal R&D trends greatly influence state, university and regional innovation policy and investment priorities. Shifts in federal spending ripple through local economies, research‑intensive firms, workforce development, and public infrastructure investments. Understanding those factors influencing federal investment can be a useful guide for designing future regional innovation policy and financial commitments.  

One of the top perennial concerns of America’s manufacturing and business communities relates to the workforce. The main issues may vary year to year; examples include too few workers available, skill mismatch, poor work habits or preparedness because of non-work issues such as basic education attainment, drug use, prison records or lack of work ethic. Among factors complicating workforce development responses are the diverse and disparate skill needs across the spectrum of occupations and sectors, the rapid advancement of technological innovation, and the array of private and public skill development and training efforts.  As a result, federal involvement in workforce development has crept into many programs and funding priorities where, traditionally, skill development and training did not reside. That might all be changing with the executive order President Trump signed on Wednesday, April 23 2025. The president is requiring the secretaries of Labor, Commerce and Education to submit a report by the end of July that will identify:  Opportunities to integrate systems and realign resources to focus on “critical workforce needs and in-demand skills…

The U.S. Department of the Treasury (Treasury) recently released a report on the State Small Business Credit Initiative (SSBCI) program with data through December 31, 2024. As of the end of 2024, Treasury has disbursed nearly $4 billion of the $10 billion set aside for the program in the 2021 American Rescue Plan of Act.  In terms of the three-tranche, formula-based allocation structure of the SSBCI program, the report documents the first disbursement to 130 jurisdictions, the second for 20, and the third, or final, tranche for six. Within this article, SSTI provides two data visualizations to graphically compare states and their progress with accessing SSBCI funds.  The graphics below include data for only the 50 states, Washington, D.C., and Puerto Rico, and not Tribal governments. Figure 1 includes a stacked column for each state, Washington, D.C., and Puerto Rico, showcasing a breakdown of each’s total allocation (deployed, disbursed but not deployed, and neither disbursed nor deployed). The data in this figure was calculated by SSTI using Figure 5 from Treasury’s new Quarterly Report.  Figure 1: SSBCI metrics (%) for…

The same April 23 executive order as mentioned above requires Labor, Commerce and Education to work together and prepare by the end of August, a plan “to reach and surpass 1 million new active apprentices.” Apprenticeships were a preferred skill development program during President Trump’s first term in office as well.  Priorities for the new strategy laid out in the order that may appeal to state and regional TBED efforts include expanding the Registered Apprenticeships to “new industries and occupations including high-growth and emerging sectors.” Additionally, the plan highlights two particular federal programs as vehicles that may see increased support. The executive order says the plan shall identify “opportunities, including through the Carl D. Perkins Career and Technical Education (Perkins V) Act and Federal student aid, to enhance connections between the education system and Registered Apprenticeships.

The short answer to the question, “Is college still worth it?” is, “It depends.” Attending higher education institutions may impart an array of societal and personal development benefits. Still, one factor of increasing import that raises the question of the worthiness of attaining a college education in a market-driven economy is the personal cost involved. The question becomes even more pertinent based on three trends: rising costs, decreasing employment opportunities for college graduates and a fair share of Americans having little or no confidence in higher education.  Consider these three trends:  College tuition has doubled in the last 20 years, as shown in SSTI's September 2024 analysis. An April 2025 study from the Federal Reserve Bank of New York found a 5.8% unemployment rate among recent college graduates aged 22-27 in March 2025—rising from a low 3.9% in April and May 2022. A 2024 Gallup survey found that Americans are “nearly equally divided among those who have a great deal or quite a lot of confidence (36%), some confidence (32%), or little or no confidence (32%) in higher education.”  Adding complexity to the economic…

Earlier this week, SSTI participated in InBIA’s 39thInternational Conference on Business Incubation (ICBI39) in Philadelphia. The event brought together entrepreneurship support professionals from around the world to tackle shared challenges and explore strategies for fostering entrepreneurial ecosystems.  SSTI Program Director Casey Nemecek presented strategies for effectively communicating TBED concepts to broader audiences as part of the “Advocating for Entrepreneurship” panel session. The presentation emphasized three key approaches: making technical concepts accessible through relatable examples, centering local impact, and enlisting trusted community voices to demonstrate why innovation-driven economic development matters to communities and funders. This theme of clear, strategic communication resonated throughout much of the conference’s programming, from sessions on program sustainability to discussions about cross-organizational partnerships to build resiliency.  As always making new connections and reconnecting with familiar faces from SSTI member organizations was energizing. We look forward to being on the road again in June for the Global…

Recognizing Louisiana’s lag in some prosperity metrics, loss of talent over the past decade, and need to build a more competitive economy among its southern state peers, the Louisiana Economic Development (LED) has created a strategic plan that emphasizes innovation, technology, and entrepreneurship as the means to address the challenges and opportunities it faces in creating a more robust and talent-attracting economy. The Positioning Louisiana to Win: 2025 Comprehensive Statewide Strategic Plan, released in March 2025, details several recommendations and initiatives that seek to nurture homegrown entrepreneurs, startups and technology-driven businesses; attract and retain talent; and modernize the state’s traditional industries, educational, and training programs to ensure that key sectors and Louisianans are positioned to prosper from a more competitive technology-based economy. Emphasizing technology and innovation as drivers of economic growth and recognizing that talent and entrepreneurship are critical for creating a prosperous economy, the plan underscores the need for Louisiana to attract /expand technology sectors as cultivators of…

A handful of showcase events across the country are known widely by mere nicknames, gather lots of media attention, and attract tens of thousands of people or more each year. Can a state’s lead technology-based economic development stand out in this kind of crowd? Is it worth the investment to try?  For Lindsey Cox, CEO of Launch Tennessee, the answer has been a "yes" for the past two years and likely will be again in 2026. She led Tennessee's participation in SXSW (South by Southwest), an annual conference in Austin, Texas, that features tech, film, music, education, and culture. Launch Tennessee took over a centrally located event space, transforming it into Tennessee House with Tennessee-branded decor and programming. The programming at the Tennessee House provided a reason for SXSW attendees to want to check it out and to, while they were there, meet the Launch Tennessee team, the…

Exploring gross domestic product (GDP) at the county level offers a more detailed look at where industries are located and how they shape local economies, especially in smaller or more rural counties often overlooked at higher geographic levels. SSTI has provided similar analyses at the state and metropolitan levels, yet county-level data can reveal micro-level trends, showing local patterns that broader numbers might hide. Such refined looks can help TBED and innovation policy approaches to be more surgical in their application. To help guide that refinement, this edition of Useful Stats uses Bureau of Economic Analysis (BEA) data to map and illustrate differences in county-level GDP broken down by private industries. Figure 1 below provides a detailed map of the dominant industries by GDP contribution across all U.S. counties in 2023 for which data is available. The controls under the title of the figure can be used to toggle between the largest and second largest contributor to private industry GDP within each U.S. county. By visualizing the geographic distribution of the largest industries in each county, the reader can spot trends immediately. For…

The U.S. Census Bureau’s Narrative Profiles is an online resource that presents American Community Survey (ACS) 5-year estimates as easily digestible analytic reports. Profiles cover 18 important topic areas—including social, demographic, and workforce characteristics—and present data through short paragraphs, tables, and charts, allowing users to quickly grasp the most relevant statistics without needing to parse large tables of raw numbers. The Narrative Profiles tool is particularly useful for policymakers, researchers, and businesses who require a quick, clear, and accessible snapshot of a region or area's makeup and characteristics. The tool supports informed decision-making and strategic planning, making it a valuable resource for understanding and addressing local trends and needs.Data is currently available for the recent 2019-2023 ACS 5-year estimates and as far back as the 2011-2015 estimates.Geographically, data is available at the national, metro and micropolitan statistical area, state, county, county subdivision, place (e.g., city, town, village, etc.), ZIP code tabulation area, and census tract level, as well as for American Indian Areas…

Imagine tapping into a talent pool already familiar with your region's culture, values, and challenges. This scenario is the core idea behind affinity recruiting, a strategy where communities and businesses actively target former residents, alums, and individuals with a genuine connection to the area. These initiatives aim to entice them for job opportunities, entrepreneurial ventures, leadership roles, or investment. As regions increasingly recognize the value of "boomerang migration," (SSTI Digest, March 20, 2025), integrating these strategies with broader talent initiatives may be a cost-effective way to revitalize workforces, bolster local economies, and strengthen community bonds. This article will explore the potential of affinity recruiting, examine successful examples, and address the inherent challenges in its implementation. Dr. Gary Spanner, who formerly worked in economic development in the southeastern region of Washington State, recently shared insights into an affinity recruiting program that was in place for several years until his retirement in 2015. “We had the anecdotal insight that people tend to have an affinity for places in which they have lived at…