SSTI Digest

Mass Ecomm has changed its name to the New England Business & Technology Association to better reflect its regional nature and broader mission.

Capital for start-up and early-stage business ventures should become more plentiful in Vermont based on legislation, S. 178, passed in late May. A spokesperson for Governor Jim Douglas appraised the act's total impact as representing a $105 million investment into the state's economy. Injecting more higher risk investment capital into the state's economy had been one of the key economic development priorities for Gov. Douglas during his first legislative cycle. The cornerstone of the Douglas Plan for Prosperity was to recapitalize and expand the financing mechanisms offered by the Vermont Economic Development Authority, the state's commercial and agricultural low-interest lending agency. S. 178 raises the state's commitment to the fund from $25 million to $70 million. The legislation also enacts new tax credits and amendments to encourage angel investment and development of sustainable energy technologies, including: a sustainable technology R&D tax credit against a small corporation's income tax liability of up to 30 percent of qualified sustainable energy R&D expenditures…

On Tuesday, voters in Maine approved Governor John Baldacci's request to issue $60 million in bonds to finance several research infrastructure, economic development and housing related projects. Packaged and marketed as the Jobs Bond, the measure won easily with 60 percent of the vote in this special election. The tech-based economic development portion of the bond will be allocated as follows: $20 million to re-capitalize the Maine Biomedical Research Fund, managed by the Department of Economic and Community Development, and used at five nonprofit research facilities in the state. $3 million to design and construct the Gulf of Maine Research Laboratory to partner with the fishing community on marine research to protect and enhance the commercial fishery of the Gulf of Maine, to partner with the marine biotechnology industry to undertake marine biotechnology research, and to develop and make available an innovative marine sciences education hall focused on middle and secondary school students and the general public. $2 million for infrastructure improvements at four…

The U.S. Department of Agriculture (USDA) recently announced the selection of 97 loan and grant recipients in 24 states that will receive $20.1 million in rural business development funds. The loans and grants are expected to assist in creating or saving nearly 10,000 rural jobs and supports 772 business ventures as part of the Bush Administration's efforts to spur economic development in rural areas. Administered through USDA Rural Development, the grants and loans are awarded to local organizations which in turn use the funds for a variety of purposes, including revolving business loan funds, studies, technical assistance, community facilities, improving medical care and communications, and other projects to stimulate jobs and growth. Many of the awards are made in conjunction with assistance from other sources, leveraging USDA funds for greater effect. The assistance includes Rural Business Enterprise Grants, Rural Business Opportunity Grants, Rural Economic Development Loans and Grants and Rural Business Enterprise & Television Demonstration Grants. The recipients are more than…

Following extensive public consultation, the French Ministry for Industry and Research has announced a revamped national strategy to boost support for research and development (R&D) activities in France. The plan, to be implemented in 2004, aims to make financial resources for innovative companies more accessible and to increase France’s appeal to the international R&D community. Some of the key measures include: Single-shareholder venture capital companies. A new status for innovative start-ups and single-shareholder venture capital companies will allow newly created companies to recruit dedicated research staff at reduced costs. Small-to-medium-sized innovative start-ups. Companies with R&D projects established in France for less than eight years will be partially exempt from social charges and business tax for investment in research, and eligible for increased tax reductions. Increased tax reductions. These will be offered annually to all companies with investments in research. Continuation of research tax credit. The highly competitive Research Tax…

In 2003, the nation's 20 top metropolitan areas will generate $4 trillion in output, or 36 percent of the national economy, according to a new report by the U.S. Conference of Mayors and the Conference’s Council for Investment in the New American City. However, overall employment growth this year is predicted to be 0.1 percent in those same metro areas, with nine experiencing either no job growth or continued employment contraction. The Role of Metro Areas in the US Economy: Employment Outlook reports the nation's 319 metro areas lost nearly 1.01 million jobs in 2001 and 2002, three times the job loss outlined in preliminary government estimates in January. The projected job growth rate of 0.1 percent for 2003 represents a significant downward revision from the January report, which predicted the rate to be 0.9 percent. The unemployment rate is unlikely to decline until jobs grow at an annual rate of 1 percent – predicted to occur this year in only Phoenix-Mesa (1.6 percent) and San Diego (1 percent) – the report states. Of the top 20 U.S. metro areas, those with the predicted…

U.S. businesses spent $180.4 billion in non-federal funds for research and development in 2000, according to the National Science Foundation's (NSF) annual Survey of Industrial Research and Development. The figure reflects 13 percent growth over 1999 findings and the 47th consecutive year of increases. Federal funding for industrial R&D, however, fell to $19.1 billion in 2000, a 15 percent drop from 1999. Top R&D-performing manufacturing industries in 2000 were motor vehicles, trailers, and parts ($18.3 billion), pharmaceuticals and medicines ($12.8 billion), semiconductor and other electronic components, ($12.8 billion), communications equipment ($11.2 billion), and, navigational, measuring, electromedical and control instruments ($10.1 billion). Top R&D-performing nonmanufacturing industries were wholesale and retail trade ($25 billion), software publishing ($12.6 billion), scientific R&D services ($9.7 billion), computer systems design and related services ($4.9 billion), and, finance, insurance and real estate ($4 billion). While California and Michigan…

Meeting short-term budget demands are consuming more and more of state, local and academic tech-based economic development practitioners' time. However, keeping an eye on the long-range funding picture is critical for sustained success. One of the most important federal sources for supporting the research enterprise is the National Science Foundation (NSF). At NSF Director Rita Colwell's request, the public has the opportunity to participate in developing NSF's strategic vision and plan for the next six years. "The views of the science and engineering community and the public are very important to us and will be reflected in the final draft of the updated plan," Dr. Colwell writes. While comprising only four percent of the total federal research and development budget, NSF funds one-fifth of all federal support for basic research and 40 percent of non-life-science basic research at U.S. academic institutions. In addition, Congress has committed to doubling the NSF budget within five years so the agency's role is likely to grow in importance for state and local tech-based economic…

The National Academy of Public Administration (NAPA) has begun a review of the Manufacturing Extension Partnership (MEP) that will examine the program's mission and execution. MEP requested the independent analysis. As part of the study, NAPA will consider whether there are barriers that prevent small firms from obtaining technical and business advice they need to improve innovation, productivity and competitiveness. NAPA will then identify business models for providing services. The report is scheduled to be completed in February 2004. NIST is asking interested parties to comment on the study by going to http://www.napawash.org/pc_government_performance/ongoing_nist.html

G. Michael Alder has been named executive director of the Biotechnology Association of Alabama. Thomas Anderson is the new director of the Automation Alley Technology Center in Michigan. Colorado Governor Bill Owens has appointed Tim Fritz as the director of the Office of Aerospace and Aeronautics. Hempstead (New York) Mayor James Garner was elected to serve as the 61st president of the U.S. Conference of Mayors during its annual meeting this week. The Arlington Technology Incubator (Texas) has selected Geoffrey Grant to serve as the new director beginning July 1. The Charleston Gazette reports Ron Hatfield, director of jobs development for the West Virginia University Institute of Technology's Technology Research and Development Corp., will also serve as the new executive director of the Upper Kanawha Economic Development Corp. Joseph James has announced his resignation as head of the Prince George's Economic Development Corporation (Maryland). The new executive director of the Virginia Piedmont Technology Council is Gail Milligan…

G. Michael Alder has been named executive director of the Biotechnology Association of Alabama.

Thomas Anderson is the new director of the Automation Alley Technology Center in Michigan.