While tight state budgets have slowed the number of tech-based economic development programs being created by states, Kentucky and Oregon have both approved new laws designed to encourage the growth of technology companies.
Publisher's Note: While more than 40 states are working to encourage the creation and growth of biotechnology companies, as we have said over the years, the U.S. is competing in a global economy. This is just as true in technology as in textiles. The fact that the recently concluded BIO annual conference was held in Toronto only underscores the point. Over the years, the SSTI Weekly Digest has featured selected international initiatives as a gentle reminder to policymakers that the U.S.
A study released by the Beacon Hill Institute at Suffolk University in Boston is one of the more recent efforts to examine all aspects of U.S. states and their economies. Entitled State Competitiveness Report 2001, the study defines competitiveness as the ability to ensure and sustain a high level of per capita income and its continued growth.
Videoconferencing, videotelephony, Internet-based audio and video entertainment, local wireless data services and telecommuting — all are part of the "last mile" broadband services that Charles Ferguson assesses in a recent working paper for The Brookings Institution.
The National Science Foundation has released a new set of statistical tables that show research and development (R&D) funding levels, reported by 31 federal agencies for the last three fiscal years.
Albuquerque, New Mexico
Tenants of the Sante Fe Business Incubator have seen their one-story building increase from 10,000 sq. ft. to 30,000 sq. ft., according to a story by the Albuquerque Journal. The expansion is part of a $2.5 million project funded by the federal Economic Development Administration (EDA), the Regional Development Corporation and other agencies.
One of the most widely used barometers of states' relative positions in technology-based economies has been updated and expanded. The 2002 State New Economy Index: Benchmarking Economic Transformation in the States, published by the Progressive Policy Institute's Technology and New Economy Project (PPI) and released online this week, offers an innovation-oriented public policy framework for the states to foster success in the New Economy.
The results of Tuesday's primary election in Maine reveal the state's voters continue to be committed to improving their economy through technology-based economic development. Winning approval at the ballot was Question 2, allocating $35 million in bond revenues for 11 specific projects - a majority of which were tied directly to research and technology-based economic development.
The Illinois General Assembly has passed legislation to encourage venture capital investment in technology businesses across the state. HB3212 creates the Technology Development Fund, which permits the State Treasurer to use up to 1 percent of the state's total investment portfolio for equity investments through Illinois venture capital firms.
Canada already has seen its number of biotech firms grow from 227 in 1997 to 400 in 2000, second only to the U.S. in biotech concentration. Last week's announcement of a $51 million (Canadian) biotechnology strategy is intended to further strengthen the Ontario's position in health research and commercialization.
Nine metropolitan areas have been identified as the nation's possessing the greatest concentration of the U.S. biotechnology industry in a new Brookings Institution report entitled Signs of Life: The Growth of Biotechnology Centers in the U.S.
Few private foundations across the country have made a comparable commitment in size or duration toward improving a single state's ability to participate in a knowledge-based economy as the Lilly Foundation has for Indiana. The latest round, reported in this week's online Chronicle of Higher Education, promises a total of $138 million to match donations received by Indiana's accredited colleges and universities.
The fate of the Advanced Technology Program and the Administration's entire reorganization of federal economic development efforts also took hits, as parts of a series of Congressional votes on the budget. However, these votes are only the first step in a along budget process.
Senate Saves CDBG with Coleman Amendment
With Opening Day less than two weeks away, a baseball analogy is only fitting to suggest NIST's Advanced Technology Program (ATP) is in for a long season. Since 1990, ATP has provided early-stage funding for 768 projects to accelerate the development of innovative technologies that promise significant commercial payoffs and widespread benefits.
Sometimes a little money is all that may be required to discover that an innovation in the lab is worth millions in the marketplace. At least that's the goal of a small grant program launched this afternoon by the Massachusetts Technology Transfer Center (MTTC). The MTTC Tech Commercialization Awards will provide $5,000 mini-grants for technology assessments and investigations by academic and industrial researchers within the Commonwealth.
As trends in federal funding priorities shift from domestic R&D to defense-related R&D, universities are scrambling to get their piece of the pie. The president's fiscal year 2006 budget request for the Department of Homeland Security (DHS) includes increased funding of 6.6 percent over the fiscal year 2005 appropriation (see the Feb. 14 issue of the Digest).
The rapid increase in federal spending for defense and homeland security has led a number of states to establish initiatives targeting potential economic development from these activities. North Carolina becomes the latest of those states, with its proposed Defense Technology Innovation Center.
Broadband access is considered by most to be a key ingredient for encouraging innovation and building a local tech-based economy. Access for many rural areas, however, remains geographically or financially out of reach. Earlier this month, the New Hampshire Rural Development Council (NHRDC) unveiled a plan to change that for the businesses, government and individuals in the northern portion of the Granite State.
The National Science Foundation has released its report on Federal Science and Engineering (S&E) Support to Universities, Colleges and Nonprofit Institutions for Fiscal Year 2002, revealing the government distributed nearly $24.4 billion to the nation's research institutions during the year. The figure is 8.5 percent higher higher than the FY 2001 total of $22.5 billion.
The U.S. Department of Education's National Center for Education Statistics (NCES) has released its annual progress report on education, The Condition of Education 2002, presenting 44 indicators on the conditions and trends in elementary, secondary and postsecondary education. In one of two special analyses, the report focuses on the experience of nontraditional college students, who comprise the majority of college students today.
Besides supporting life science research in universities, one of the other key areas states and communities are using to encourage the growth of a local biotech industry is by supporting an increase in the availability of wet lab and other biotech facilities. Biotech space, however, is extremely expensive compared to other traditional tech incubator facilities for a variety of reasons (design, HVAC, environmental, security, regulatory, etc.)
Christmas or Hanukkah for state coffers usually comes in April as taxpayers rush to meet the deadline for filing personal tax returns. Unfortunately, according to the latest survey released by the National Conference of State Legislatures this week, State Fiscal Update-June 2002, states collected $8.6 billion less in individual tax collections this April than a year ago. Much of the drop — 21 percent overall — came in final income tax payments, which fell nearly 29 percent compared to last year.
Comprising a majority of the U.S. workforce, women make up only 8.5 percent of the nation's engineers. A number of programs have been launched over the past decade to recruit more women into the field, and while women now represent 20 percent of all engineering students, women remain more likely than men to switch out of the field, particularly in the first two years of college, concludes a recently released study.
The National Science Foundation has released Graduate Students and Postdoctorates in Science and Engineering: Fall 2000, a collection of 54 detailed statistical tables present the distribution of graduate students in science and engineering (S&E) across population segments, fields of science or engineering and by college and state.
Economic downturns have a way of encouraging states, universities and communities to assess, refine and re-invigorate their strategies to promote growth and prosperity. The current recession is no exception. With the widely recognized roles played by science and technology in economic success, the news of changes and additions to tech-based economic development strategies from across the country is not too surprising. Here are some recent highlights: