SSTI Digest

Publisher's Note: SSTI notes with much sadness the March 5 passing of Indiana State Sen. David Ford, following a battle with pancreatic cancer. David was a good friend not only of SSTI's, but also of the tech-based economic development community across the nation. In addition to being a tireless and cheerful advocate for investing in science and technology, he was also a gentleman in the true sense of the word, and we miss him greatly.

David Abbott, executive director of the George Gund Foundation, was elected the new chairman of the Northeast Ohio-based Fund for Our Economic Future. Abbott replaces Robert Briggs of the GAR Foundation, who had served as chairman since the Fund was formed in 2004.

Birgitte Ahring has joined Washington State University as the director of the Center for Bioproducts and Bioenergy and as the Battelle Distinguished Professor, based at WSU Tri-Cities.

Gov. Rod Blagojevich unveiled a $25 billion capital plan supporting, in small part, several energy and technology projects, while at the same time eliminating funding in his fiscal year 2009 operating budget for several TBED-related programs within the Department of Commerce and Economic Opportunity (DCEO).   The bulk of the spending for the governor’s Illinois Works proposal would be spent on road and bridge construction ($14.4 billion), with $1.1 billion earmarked for both higher education and energy and technology projects. Gov. Blagojevich said during his Budget Address that the plan – which requires $11 billion in new state funds – would be funded primarily through a brief sale of the state lottery, which is expected to generate $10-12 billion. Of that amount, $7 billion would be used to fund the capital plan, and the state would issue bonds for another $3.8 billion, according to the governor’s office. The proposal invests in new and existing programs within DCEO, including:

Lisa Porter was named the first director of the new Intelligence Advanced Research Projects Activity. Porter, NASA's associate administrator of the Aeronautics Research Mission Directorate, said she will leave the agency in February.

With rumors of recession building, several of the nation’s governors are announcing new TBED-focused initiatives in 2008 – many of which will be presented to lawmakers for funding in the coming months. In Illinois, Gov. Rod Blagojevich unveiled two new initiatives encouraging entrepreneurship to grow high-technology businesses throughout the state.  

Jeff Coney was named Northwestern University's first director of economic development.

In his recent combined State of the State and budget address on March 7, Illinois Gov. Rod Blagojevich proposed the formation of the Illinois Community Assets Fund (ICAF), a $100 million venture designed to increase access to capital and financing to economically distressed communities and populations that have had inadequate access to mainstream capital markets within the state. The assets of ICAF would be contained within the State Treasury, and the Illinois Department of Commerce and Economic Opportunity (DCEO) would administer the fund. All $100 million would be distributed within a three-year period.   The ICAF would consist of the following four programs: Community Financial Institutions Participation Fund – $30 million to partner with third-party financial intermediaries and invest in businesses that lack access to traditional lending sources;

It won’t come to any surprise to Digest readers that there’s a connection between universities and economic prosperity. In addition to educating students and advancing science and technological innovation, the localized economic impact of institutions, alone, provides a buffer to economic swings for many mid-sized and smaller cities and college towns. How best to incorporate universities into regional tech-based economic development strategies without compromising core missions is an art not every community has mastered. The issue has captured the attention of the Federal Reserve. The Federal Reserve Bank of Kansas City has long championed rural economic growth through entrepreneurship and innovation, witnessed most readily through the Main Street Economist.

Did your New Year's resolutions involve making a career change? If so and you've yet to fulfill that resolution, visit the SSTI Job Corner at http://www.ssti.org/posting.htm. In addition to the new opportunities described below, the SSTI Job Corner has openings for these positions:

The Illinois Technology Development Alliance (ITDA) is a private, nonprofit 501(c)(3) corporation providing entrepreneur training, commercialization, and technology transition services for government, major research institutions, and corporations. ITDA is looking for a president who will work closely with the organization's board to establish a work plan and priorities to fulfill the mission of the ITDA and will have operating responsibility for the successful implementation of the plan. He or she also will serve as a key public leader in the state and region advocating for the technology sector. The presidents position requires a leader with exceptional experience and capability. More information on this opportunity is available through the SSTI Job Corner at http://www.ssti.org/posting.htm. return to the top of the page

The Center for Applied Innovation, a Chicago-based think tank, appointed Michael Patin as its new executive director.

Lori Clark is the new coordinator of agency relations and research park initiatives at Northern Illinois University.

The third installment to Walkin' the Tech Talkin' Gov Walk (see the April 17 and May 8 issues of the Digest) covers the outcomes of the 2006 legislative sessions for two states, Illinois and Wisconsin. Following is a synopsis of bills passed and budget appropriations relevant to tech-based economic development and the priorities outlined in respective gubernatorial addresses at the beginning of 2006. Illinois