SSTI Digest

The Office of Technology in the Utah Department of Community and Economic Development seeks an Assistant Director for the Centers of Excellence Program. The position's responsibilities include promoting the development of new and established Centers that will assist the state economy to expand in focused technology areas. Deadline for application is February 23, 2001. More information on this and additional career opportunities in tech-based economic development can be found at the S&T Job Corner: http://www.ssti.org/posting.htm 

Two new programs from the U.S. Small Business Administration are designed to infuse new capital into economically disadvantaged rural and inner city areas and strengthen existing businesses through technical expertise and mentoring.



The New Markets Venture Capital program (NMVC) is anticipated to spur as much as $15 billion in economic development in distressed areas, while BusinessLINC (Learning, Investment, Networking and Collaboration) is designed to assist small firms by providing access to technical assistance, business advice, market knowledge and contracting opportunities that come from relationships with larger companies.



The NMVC program will provide $150 million in government guaranteed funds for investment by 15 to 20 VC companies to be selected competitively by the SBA. The venture capital companies will be community-based for-profit organizations with management that has proven track records of investing capital in small businesses for the purpose of community development. The companies must raise at least $5 million in investment capital which will be supplemented with the issuance of SBA debentures. No interest payments will be required for five years.



Existing community development venture capital companies and groups with equivalent experience may also apply for New Markets Venture Capital Company designation. The application is available on the SBA website at http://www.sba.gov/INV/venture.html

Editor's Note: The fifth installment in our review of the Governors' inaugural addresses, state of the state addresses, and budget messages for 2001. The first four articles in the series were over the past four weeks. Those issues of the SSTI Weekly Digest and all other previous editions are available on our website: http://www.ssti.org/Digest/2001/headlines01.htm

With President Bush announcing the creation of the White House Office of Faith-Based and Community Initiatives, some analysts and practitioners are pondering the implications for economic local and state development efforts.

There is so much happening in state and local tech-based economic development across the country that we’re adding a new Digest feature: the Regional Roundup. Our goal is to provide 1-2 sentence coverage of news stories, reports and resources demonstrating the variety of activities underway to build a stronger tech-based economy. Of course, whenever possible, we’ll include a link or contact for more information.

It is widely argued in the tech-based economic development community that New Economy businesses, specifically computers and information technology, account for the tremendous economic growth of the last half of the 1990s. But does the data support this?

Many tech-based economic development programs recognize the importance of having seed and venture capital accessible to their start up tech firms and entrepreneurs. Some practitioners, though, see a challenge in encouraging equity investment in more conservative, risk adverse regions and localities. The dot-com “correction” of last year probably did not help.

Addressing the Digital Divide, workforce development, and technology deployment in education are among the highest priorities of the nation’s mayors, according to Priorities for the New American City, the 2001 action agenda of the U.S. Conference of Mayors.

With as much emphasis on accessing and applying technology as on creating it, the final report of the Arizona Partnership for the New Economy (APNE) outlines several recommendations to improve Arizona’s position and performance in a tech-based economy.

Editor's Note: This is the fourth installment of excerpts from recent speeches and budget proposals demonstrating the priority governors are placing on tech-based economic development and math & science education.

The Economic Development Administration (EDA) seeks nominations for the second annual Award for Excellence in Economic Development. EDA established this award to recognize outstanding economic development activities of national importance.

NIST has opened the fiscal year 2001 competitions for funding under 13 different research grant programs: Precision Measurement Grants; the Summer Undergraduate Research Fellowships (known as SURF) in six NIST laboratories (Building and Fire Research, Chemical Science and Technology, Information Technology, Manufacturing Engineering, Materials Science and Engineering, and Physics); the Chemical Science and Technology Laboratory Grants Program; the Electronics and Electrical Engineering Laboratory Grants Program; the Fire Research Grants Program; the Manufacturing Engineering Laboratory Grants Program; the Materials Science and Engineering Laboratory Grants Program; and the Physics Laboratory Grants Program.