SSTI Digest

West Virginia coal-mining and farming businessman James C. Justice II confirmed a $10 million donation to Cleveland Clinic Innovations this week, according to an article in the Cleveland Plain Dealer. The gift will be used to establish a chair in medical innovation, to fund patent applications and to provide space and seed funding to early stage businesses. Inspired by the move, Cleveland Clinic Innovations Chairman Thomas Graham announced that he will contribute an additional $1 million for patent applications.

The Idaho Department of Commerce has named Gynii Gilliam as its new chief economic development officer. Gilliam brings more than 20 years of experience to the position. Most recently, she served as executive director of Bannock Development Corporation.

David Kerr, director of the Missouri Department of Economic Development, will step down from the position Dec. 31.

Tim McLaughlin and Bob Merritt have been selected for leadership positions within the Delaware Economic Development Office. McLaughlin, formerly with the Delaware State Housing Authority, is taking over as director of business development, overseeing DEDO's recruitment efforts. Merritt, who was vice president of the First National Bank of Wyoming's loan department, joins DEDO as capital resources director, overseeing management of Delaware's Strategic Fund.

TechColumbus has appointed Tim Haynes, vice president for membership and marketing, as interim CEO beginning Jan. 1. Previously, Ted Ford, who spent six years as the organization's CEO, announced his plans to leave the post at the end of this year.

With increasing pressures from state and local policymakers to show a return on investment, universities and colleges across the country are stepping up their efforts to transform innovative ideas into ready-for-market products and develop a new generation of entrepreneurs that will spur regional and state economic growth. Recently, several universities announced new initiatives to foster innovation and build entrepreneurial capacity including: Auburn breaking ground on a new $28.8 million science center; Harvard's Innovation Lab opening its doors; and, The LaunchPad Ohio announcement at four universities in Northeast Ohio.

Auburn Science Center

Louisiana and Texas voters approved measures to provide funding sources for student loans while voters in Colorado rejected a measure that would have temporarily increased taxes to offset cuts for public schools and colleges. Meanwhile, Ohio voters repealed a bill passed earlier this year limiting collective-bargaining rights of state employees. Official results are outlined below:

Jeffrey Brancato has recently joined NorTech as vice president. Prior to joining NorTech, Brancato was the associate vice president for Economic Development at the University of Massachusetts.

Randal Charlton has announced his retirement as executive director of TechTown, the Wayne State University research and technology park. Leslie Smith, the general manager of TechTown has been appointed to fill the position beginning Nov. 1.

Martin Briley has been named CEO and president of the Virginia Economic Development Partnership. Since 1997, Briley has been executive director of the Prince William County Department of Economic Development.

Richard Baier, Nebraska's Department of Economic Development director plans to step down at the end of Oct. to take an executive-level position with the Nebraska Chamber of Commerce.

We've all heard politicians overhype a development project — it could be the recruitment of a large manufacturer or a new economic development-related public initiative. We cringe as the figures are often unrealistic, under-researched or over-multiplied. A front page article in a recent Wall Street Journal (subscription required) highlighted this problem quite plainly. Public radio program, This American Life, thought it worth an entire hour-long episode.

In what is considered typical for an odd-numbered year, only 34 questions have been certified in nine statewide ballots this election year. Some of those measures include redirecting funds to support higher education, revenue enhancements for states, and repealing legislation that limits collective bargaining for public employees.

Ballot Initiatives

ColoradoVoters in Colorado will decide on a measure to increase the state income and sales tax to 5 percent and 3 percent, up from 4.63 percent and 2.9 percent, respectively. Reports estimate the measure would generate about $3 billion to help fund education. The measure is Proposistion 103.

No longer limited to a niche group of practitioners, promoting growth through innovation and technology has achieved widespread acceptance as the key to our economic prosperity. You'll find it in blog posts and opinion pages from across the political spectrum, and in virtually every corporate or civic dialogue today on revitalizing America's economy.

A wave of new leaders at the federal and state level over the past couple of years has ushered in new ideas for sustaining economic growth that for many states is changing how science and technology-focused programs are structured and funded. Meanwhile, at the same time policymakers and practitioners are embracing the importance of supporting innovation-based companies, the already limited resources for these programs are becoming more scarce. Put simply, all of economic development is at a crossroads.

SSTI's Annual Conference is the only economic development conference this fall with the senior leaders of the Economic Development Administration (EDA), National Institute of Standards and Technology (NIST) and the U.S. Small Business Administration (SBA) speaking. John Fernandez of the U.S. Department of Commerce, Sean Greene of SBA and Phillip Singerman of NIST will kick off an important dialogue among all conference attendees on how we communicate the value of investments in innovation, encourage collaboration, and adapt to changing economic and fiscal conditions. Prepare for a highly interactive session in a moderated, thought-provoking dialogue on how economic development programs at all levels are (or should be) changing as a result of today's realities. Learn more...

This year's conference will kick off with an Opening Reception hosted by TechColumbus at COSI. Attendees can experience science, technology and innovation at work through more than 300 interactive exhibitions and more than 100,000 square feet of exhibit space while reconnecting with colleagues and networking with conference attendees, speakers and our local host over drinks and hors d'oeuvres. The reception will begin Monday, Nov. 7 at 6:30 PM.

After an intense opening day of keynotes, educational sessions, exhibits and more, conference-goers will have an opportunity to relax and have some fun as networking takes center stage at SSTI's annual National Innovation Reception. The early evening affair provides the opportunity to continue conversations begun earlier in the day, visit our exhibiting sponsors and begin new relationship.

Beyond the numerous breakout sessions and insightful plenary sessions, SSTI's 15th Annual Conference offers attendeesseveral activities that other conferences typically don't offer including networking with other practitioners at some of the city's finest restaurants (Dine A-Rounds), maintaining your normal exercise regimen (a morning 5k run/walk) and sharpening your mind (morning Hatha Yoga).

This year's SSTI Annual Conference will provide attendees with many opportunities to explore the issues that drive technology-based economic development. When planning your conference experience, make sure to check out our breakout sessions, which will allow participants to focus on the topics that interest them.

Featured topics at this year's conference include: