SSTI Digest

Noreen Scott, former economic development division director for the New Mexico Department of Economic Development, is the executive director for the Rio Rancho Economic Development Corp.

The Greenville Spartanburg Anderson Technology Council has named Philip Yanov executive director.

Research released this week by the Information Technology Association of America (ITAA) suggests that, failing a dramatic turnaround in the national economy, a recovery in the IT sector in 2003 will most likely continue to be a “jobless” one. A telephone survey of 400 hiring managers from IT and non-IT companies nationwide found that predicted demand for hiring IT workers has reached an historic low of only 493,000 positions over the next 12 months — down from 1.6 million at the start of 2000 and less than one-half of the predicted 1.1 million positions needed at the start of 2002. Sixty-seven percent of those interviewed said they thought hiring demand would stay the same or decline over the next 12 months. Companies are also moving more positions overseas, with 12 percent of IT companies and 3 percent of non-IT companies saying they have already opened up overseas operations. Large IT companies were most likely to say they have made the move — 22 percent have already moved work offshore. Additionally, 15 percent of IT firms say they will, or are undecided about, moving jobs overseas in the…

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 spur technology development in the state, the Maryland Technology Development Corporation (TEDCO) has entered a collaborative agreement with the nation's cryptologic organization, the National Security Agency (NSA). TEDCO’s mission is to help foster a technology economy that will create and sustain businesses throughout Maryland. NSA coordinates, directs and performs highly specialized activities to protect U.S. information systems and produce foreign intelligence information. The agreement establishes that TEDCO and NSA will focus on tech transfer by identifying federally funded NSA research results ready for industrial transfer; identifying technologies in the industrial sector that merit transfer into NSA; and identifying technology-based business opportunities that benefit both Maryland and NSA. It is not the first time TEDCO and NSA have joined forces. In November 2001, the two organizations hosted a technology showcase that drew nearly 200 entrepreneurs, scientists and inventors. Their new agreement comes as part of TEDCO's Federal Lab Partnership Program (FLPP), which seeks to…

Given the proportionately small amount of money invested in transportation research and development (R&D), significant gaps exist in ensuring that the more than $120 billion in annual transportation funding is being spent wisely, witnesses have told a House Science Subcommittee. The testimony came at a hearing in April exploring the needs of transportation R&D as Congress considers the renewal of a massive transportation bill. "Considering that we won't have the ability to simply build more roads to keep pace with our growth due especially to urban population density, we must look at new ways to improve the overall system, to make it safer and more efficient," Environment, Technology, and Standards Subcommittee Chairman Vernon Ehlers (R-MI) said. Congress is currently working on reauthorizing the Transportation Equity Act for the 21st Century (TEA-21), and the Science Committee shares jurisdiction with the Transportation Committee on the research provisions of the bill. Many parts of Surface Transportation Research and Development Act of 1997 passed by the Science Committee were…

As states and communities consider how to build a tech-based economy, the prospects of centering efforts around hydrogen fuel cell technology has become an increasingly appealing option. Fuel cells may have huge implications for the future, and the technology already is the focus of some states' multi-billion economic development strategies. California, Connecticut, Massachusetts, Michigan, New York and Ohio offer a few examples (see May 17, 2002 issue of the Digest). In all, approximately 20 states are believed to be in various stages of hydrogen development. Among those states is New Mexico. According to Albuquerque Journal reports, Governor Bill Richardson is looking to place New Mexico at the fore of a hydrogen-based economy. Leading the charge is HyTeP, or Hydrogen Technology Partnership, an informal network of New Mexico people and organizations working together to pursue development of a hydrogen-based economy in New Mexico. A Los Alamos National Laboratory executive is on loan to the New Mexico Economic Development Department to coordinate HyTeP. A workshop held last week…

Nonprofits looking for financial assistance, technology assistance or assistance in general may not need to look much further than one browser window. Two online resources, TechSoup and Gifts In Kind, offer a wide variety of tools that can help nonprofit organizations stretch tight budgets. TechSoup is a comprehensive source of technology information just for nonprofit organizations. Powered by CompuMentor, one of the nation's oldest and largest nonprofit technology assistance agencies, TechSoup.org offers nonprofits one-stop shopping for their technology needs. While TechSoup is aimed at the 650,000 small to midsize nonprofits, larger nonprofits also may find useful information. TechSoup's newest service distributes donated and discounted technology products exclusively to nonprofits. Software, hardware and other essential technology products can be ordered for a small administrative fee. This unique resource is made possible due to generous contributions from technology providers such as Microsoft, Cisco, and Symantec. In addition to having staff at CompuMentor, TechSoup has…

During a legislative season that was marked by heated discussions in most statehouses on what to cut or save, Indiana is one of a handful of states so far that focused considerable debate on planting the seeds for a stronger future through technology-based economic development. The compromise crafted between Democratic Governor Frank O'Bannon – who started the discussion when he outlined his Energize Indiana initiative in his State of the State Address – a Republican controlled Senate with a countering JOBZ proposal, and an independent minded House (controlled by the Democrats) positions the Hoosier State among the leaders for promoting a technology-based economy. The state's research and technology community, catalyzed by recissions and cuts in the FY 2003 budget, played a significant and vocal role in pushing for a more comprehensive portfolio of programs and credits for the next biennium. The two-year budget bill recently signed by Gov. O'Bannon includes $75 million for research and development (R&D), $9 million for technology parks and $50 million for venture capital tax credits, among other…

Maine Governor John Baldacci got nearly everything he wanted in a bond proposal to encourage technology-based economic development (TBED). The Maine legislature shaved $10 million from the Governor's original request before passing the bond on to Maine voters for consideration at a special referendum June 10. The bond proposal includes: $20 million would re-capitalize the Maine Biomedical Research Fund, managed by the Department of Economic and Community Development. A four-to-one non-state leverage is anticipated from the state's investment to support capital infrastructure and equipment. Gov. Baldacci had wanted $25 million for the fund. $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…

The Department of Housing and Urban Development (HUD) has notified its partners more than $2.3 billion is available in the FY 2003 SuperNOFA (Notification of Funding Availability), including 43 separate funding opportunities for local units of government and nonprofit faith-based and community organizations. This year's application process ultimately will result in $1.822 billion in targeted housing and homeless assistance, $241 million in community development funding, and $231 million in economic development. Several opportunities of interest to the technology-based economic development (TBED) community are listed below. Approximately $24.84 million is available for the Rural Housing and Economic Development (RHED) program, which aims to build capacity at the state and local level for rural housing and economic development. Funds for this program will be awarded through a selection process conducted by HUD in accordance with HUD Reform Act. Additional funds may be available through recapture. Local rural nonprofit organizations, community development corporations, federally recognized Indian…

Venture-backed women-led enterprises are moving well beyond start-up stages of corporate formation to revenue generation, and almost 20 percent report profitability, according to Springboard Enterprises, whose program for women entrepreneurs has helped raise $1.76 billion in equity capital for women-led companies. Since Springboard's launch in 2000, 250 women CEOs and founders have participated in the nonprofit organization's pioneering venture programs for women entrepreneurs. Almost 200 of the 250 companies that have presented at Springboard Venture Forums continue to grow, and 97 have raised more than $1 billion in venture capital following their participation in a Springboard Forum. A recent survey of Springboard Alumnae, conducted by Springboard and McKinsey & Co., shows that 83 responding Springboard companies are generating an average of $3.4 million in revenues, and 19 percent have already achieved positive cash flow or profitability. An additional 16 percent forecast profitability by the end of 2004. Companies reported raising an average of $7.6 million in equity. …