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Useful stats: Opportunity Zone-eligible census tracts by state

Thursday, February 8, 2018

Note: this article has been updated.

The recent tax law created a new vehicle, “Opportunity Zones” (Section 13823), to spur investment in companies and projects in distressed communities. As covered in detail during a recent SSTI members-only webinar, the tax incentive provides investors who reinvest capital gains into these zones with the ability to defer taxes on those gains and, if the Opportunity Zone investment is held at least 10 years, to waive taxes on any new capital gains. Zones must be declared this spring by each state’s governor, and only 25 percent of a state’s high poverty or low income census tracts may be included.

  • Read more about Useful stats: Opportunity Zone-eligible census tracts by state

High-growth firms concentrate in larger metros, around talent

Thursday, February 8, 2018

New research from Ian Hathaway of the Center for American Entrepreneurship confirms a common theory in economic development circles: that high-growth firms are predominantly found in large and mid-sized cities with high densities of talented workers and a culture of entrepreneurship. Hathaway’s research uses data from Inc. Magazine’s Inc.

  • Read more about High-growth firms concentrate in larger metros, around talent

Governors target diverse strategies to build rural broadband capacity, spur economic growth

Thursday, February 8, 2018

With more than 30 percent of rural America still lacking access to what the FCC considers adequate broadband, governors from across the country are working toward diverse strategies to build rural broadband capacity. By providing rural communities with access to full-speed, stable broadband, these governors hope that they can revitalize rural communities by helping small business formation and expansion as well as improve educational achievement/workforce training for rural citizens.

  • Read more about Governors target diverse strategies to build rural broadband capacity, spur economic growth

Tech Talkin’ Govs 2018, part 5: IL, OK, OR, PA, TN looking to enhance workforce, build economies

Thursday, February 8, 2018

Governors are continuing their annual address to legislators and constituents and workforce development continues to take center stage, with the governor of Oregon rolling out a new five-step plan she hopes will invigorate the economy and close the skills gap while Oklahoma acknowledged difficult times and Tennessee says it may achieve an education goal two years ahead of schedule.

Governors are continuing their annual address to legislators and constituents and workforce development continues to take center stage, with the governor of Oregon rolling out a new five-step plan she hopes will invigorate the economy and close the skills gap while Oklahoma acknowledged difficult times and Tennessee says it may achieve an education goal two years ahead of schedule.

  • Read more about Tech Talkin’ Govs 2018, part 5: IL, OK, OR, PA, TN looking to enhance workforce, build economies

Workforce winning in latest state budget proposals; KS, MA, MI, OK, TN reviewed

Thursday, February 8, 2018

Workforce development programs and apprenticeships continue to win favor in many of the governors’ state budget proposals. In our latest review of TBED initiatives being proposed in state budgets, we found Kansas asking for additional funds for research, worker training and apprenticeships; Massachusetts is looking to double community college scholarship funding and increase several workforce development initiatives; and in Michigan, skilled trades training would receive a boost.

Kansas

Workforce development programs and apprenticeships continue to win favor in many of the governors’ state budget proposals. In our latest review of TBED initiatives being proposed in state budgets, we found Kansas asking for additional funds for research, worker training and apprenticeships; Massachusetts is looking to double community college scholarship funding and increase several workforce development initiatives; and in Michigan, skilled trades training would receive a boost.

  • Read more about Workforce winning in latest state budget proposals; KS, MA, MI, OK, TN reviewed

Input sought on plan for advanced manufacturing

Thursday, February 8, 2018

The Office of Science and Technology Policy (OSTP) is seeking input from all interested parties on the development of a national strategic plan for advanced manufacturing. OSTP wants to hear ideas on ways to improve government coordination and on long-term guidance for federal programs and activities in support of U.S. manufacturing competitiveness, including advanced manufacturing research and development that will create jobs, grow the economy across multiple industrial sectors, strengthen national security, and improve healthcare.

  • Read more about Input sought on plan for advanced manufacturing

ARC commits $20M for new round of POWER grants

Thursday, February 8, 2018

The Appalachian Regional Commission has released a request for proposals for the 2018 POWER (Partnerships for Opportunity and Workforce and Economic Revitalization) Program.

The Appalachian Regional Commission has released a request for proposals for the 2018 POWER (Partnerships for Opportunity and Workforce and Economic Revitalization) Program. In this round of funding, ARC will commit up to $20 million to support efforts that create a more vibrant economic future for coal-impacted communities in the ARC region by cultivating economic diversity, enhancing job training and re-employment opportunities, creating jobs in existing or new industries, and attracting new sources of investment.

  • Read more about ARC commits $20M for new round of POWER grants

Council, governor request nearly $40 million to support Wyoming’s economic growth, diversification

Thursday, January 4, 2018

The executive council of ENDOW, an economic development initiative started by Wyoming governor Matt Mead, has announced its preliminary recommendations to diversify and grow the state’s economy, including statewide programs to support tech-based economic development that total more than $36 million.

The executive council of ENDOW, an economic development initiative started by Wyoming governor Matt Mead, has announced its preliminary recommendations to diversify and grow the state’s economy, including statewide programs to support tech-based economic development that total more than $36 million. Notable among the recommendations are $6 million for a proposed Wyoming Research and Innovation Fund that provides matching funds as a way to leverage federal R&D opportunities and $5 million to develop a new organization called Startup:Wyoming, which would administer the Fund and provide support to entrepreneurs throughout the state.

  • Read more about Council, governor request nearly $40 million to support Wyoming’s economic growth, diversification

New NIH pilot provides free SBIR application assistance

Thursday, January 4, 2018

Eligible small businesses who have not previously won an SBIR/STTR award from the NIH are able to apply for help through a pilot initiative, the Applicant Assistance Program (AAP).

Eligible small businesses who have not previously won an SBIR/STTR award from the NIH are able to apply for help through a pilot initiative, the Applicant Assistance Program (AAP). The primary goal of the AAP is to increase participation in the SBIR program by businesses that are owned or controlled by individuals who are traditionally underrepresented in the biomedical sciences. The pilot is aimed at helping small R&D businesses and individuals successfully apply for Phase I SBIR/STTR funding from the National Cancer Institute (NCI), National Institute for Neurological Disorders and Stroke (NINDS), National Heart, Lung and Blood Institute (NHLBI).

  • Read more about New NIH pilot provides free SBIR application assistance

Achieving an equitable innovation economy

Thursday, January 4, 2018

A range of equity-based strategies to support scale-up programming for small-scale manufacturers are among the findings of a recent report from the Urban Manufacturing Alliance (UMA).

A range of equity-based strategies to support scale-up programming for small-scale manufacturers are among the findings of a recent report from the Urban Manufacturing Alliance (UMA). In Making, Scaling and Inclusion, UMA found that the economic development field is hungry for strategies that remove employment barriers and build the talent of low-income and economically disadvantaged communities to drive economic growth in their cities and the report offers guidance for building equitable innovation economies.

  • Read more about Achieving an equitable innovation economy

$1.3 billion deal leads acquisition-heavy Q4 for VDO-backed exits

Thursday, January 4, 2018

Most of the baker’s dozen of fourth quarter exits SSTI reviewed for publicly-sponsored venture investments reveal local employment likely to remain in place after the deals close, regardless of the deal structure. During the past three months, companies that 20 venture development organizations (VDOs) had invested in participated in at least 10 acquisitions, with seven resulting in operating subsidiaries under the new parent firm. Also in the mix for the quarter are one initial public offering (IPO), one sale of intellectual property and one leveraged buyout.

  • Read more about $1.3 billion deal leads acquisition-heavy Q4 for VDO-backed exits

Looking Forward: The significance of a near record number of new governors

Thursday, January 4, 2018

One year from now, at least one-third of the states will have a new person sitting in the governor’s chair due to the retirement or term-limit of 17 current governors. The number of new governors could be higher than the guaranteed 17 new governors because there are 36 gubernatorial seats up for grabs. For those questioning the import of a large new class of governors, one does not need to look beyond the last two major waves of new governors — 2010 when 26 new governors came into office and 2002 when 20 new governors did — to see the impact that large classes of governors can have not just on their individual states, but the field as a whole.

  • Read more about Looking Forward: The significance of a near record number of new governors

Some experts remain skeptical of the ‘skills gap,’ both sides of debate agree on solutions

Thursday, January 4, 2018

In 2016, a study – Skill Demands and Mismatch in U.S.

In 2016, a study – Skill Demands and Mismatch in U.S. Manufacturing – found that approximately 75 percent of manufacturers showed no signs of hiring difficulties.  This study and others (including a 2015 study from Iowa State University) are reigniting a long held economic development debate over the ‘skills gap’ – a contention that there is a mismatch between the abilities employers seek in candidates and the capabilities of workers developed by the educational/workforce development systems. Challenging the conventional wisdom put forth by employers, pundits, and policymakers, these studies seem to indicate that the problem does not lie with the U.S. workforce development and educational system. Instead, the problem stems from two primary issues at the firm level:

  • A lack of employer-sponsored training; and,
  • A lack of competitive wages.
  • Read more about Some experts remain skeptical of the ‘skills gap,’ both sides of debate agree on solutions

NSF intends to commit over $12.7 million to support I-Corps teams

Tuesday, November 28, 2017

The National Science Foundation (NSF) released a new federal funding opportunity (FFO) for the Innovation Corps-National Innovation Network Teams program (I-Corps Teams). I-Corps team awards provide mentoring and additional funding to promising, NSF-funded researchers at institutions of higher education to accelerate innovation, attract subsequent third-party funding, and increase the commercialization of scientific discoveries. NSF intends to commit $12.75 million to support up to 255 I-Corps teams and proposals are accepted on a continuing basis.

The National Science Foundation (NSF) released a new federal funding opportunity (FFO) for the Innovation Corps-National Innovation Network Teams program (I-Corps Teams). I-Corps team awards provide mentoring and additional funding to promising, NSF-funded researchers at institutions of higher education to accelerate innovation, attract subsequent third-party funding, and increase the commercialization of scientific discoveries. NSF intends to commit $12.75 million to support up to 255 I-Corps teams and proposals are accepted on a continuing basis.

NSF intends to hold a webinar to answer questions about the I-Corps Teams program. Details will be posted on the I-Corps website as they become available.

  • Read more about NSF intends to commit over $12.7 million to support I-Corps teams

Angel investment more widespread, still struggles with diversity

Thursday, November 30, 2017

While venture capital remains heavily concentrated across a select few metropolitan areas, the geographic distribution of angel investors is widespread, according to new research from the Angel Capital Association, The Wharton School at the University of Pennsylvania, and the John Huston Fund for Angel Professionalism at Rev1 Ventures.

  • Read more about Angel investment more widespread, still struggles with diversity

Growth of technology-based startups helps power US economy

Thursday, November 30, 2017

Despite concern that America’s entrepreneurial engine is severely damaged, new research from the Information Technology and Innovation Foundation (ITIF) finds that the number of technology-based startups has grown by 47 percent from 2007 to 2016, with wage growth higher than the national average. Because of their high growth potential, the authors suggest that technology-based startups should be the primary focus of entrepreneurship policy.

  • Read more about Growth of technology-based startups helps power US economy

CA stem cell agency exploring options

Thursday, November 30, 2017

The California Institute for Regenerative Medicine (CIRM) is exploring options for its future as funding provided through its bond issue dwindles.

The California Institute for Regenerative Medicine (CIRM) is exploring options for its future as funding provided through its bond issue dwindles. In a meeting earlier this week, two governing board committees of the agency focused on short and long term finances including a proposal to cut clinical awards by $68 million over the next two years, an effort to raise $222 million in private funding, and the possibility of a $5 billion ballot initiative in November 2020, according to the California Stem Cell Report.

  • Read more about CA stem cell agency exploring options

Senate advances final FY 2018 budget bills

Thursday, November 30, 2017

Senate Appropriations subcommittees have advanced the remaining FY 2018 departmental budgets: Defense, Homeland Security, Interior, and

Senate Appropriations subcommittees have advanced the remaining FY 2018 departmental budgets: Defense, Homeland Security, Interior, and Financial Services. Unlike the House’s proposal, the Senate would largely maintain FY 2017’s innovation funding. Highlights include level funding for SBA’s entrepreneurial programs — with $6 million for clusters initiatives and $2 million for accelerators — and level funding for the CDFI Fund. Science and Technology funding, while above the administration's request, would decrease by about 8.6 percent for Homeland Security while Defense would see a small increase for applied research but an overall 0.5 percent decrease, according to the American Institute of Physics.

  • Read more about Senate advances final FY 2018 budget bills

VC-backed startups help support vibrant innovation ecosystems, research finds

Thursday, November 30, 2017

Venture-backed startups generate nine times the knowledge spillovers (e.g., patenting activity and citations) when compared to that produced by R&D investment of established companies, according to recent research.

Venture-backed startups generate nine times the knowledge spillovers (e.g., patenting activity and citations) when compared to that produced by R&D investment of established companies, according to recent research. In Measuring the Spillovers of Venture Capital, researchers from the University of Munich found that, on average, two-thirds of this increase can be traced to more patenting by other companies within the VC-backed company’s spillover pool (e.g., companies with geographic or industry proximity). The companies that most benefited from the knowledge spillover were large, established companies.

  • Read more about VC-backed startups help support vibrant innovation ecosystems, research finds

TechShop closing reverberates in maker space

Thursday, November 30, 2017

When TechShop unexpectedly closed its 10 locations around the country on Nov. 15, announcing its intention to file for Chapter 7 bankruptcy, it not only surprised many who were affiliated with the maker space, but raised questions surrounding the larger maker space community. Dan Woods, CEO of TechShop, cited financial reasons for the closing. They had earlier announced the closing of the Pittsburgh shop, but had opened a new shop in Brooklyn, New York, just weeks before the sudden closure.

  • Read more about TechShop closing reverberates in maker space

COMPETES Act Reauthorized without Funding

Tuesday, December 20, 2016

Last week, Congress passed the American Innovation and Competitiveness Act (S. 3084), which reauthorizes the America COMPETES Act. The Act does not include any funding levels for any of the programs or agencies reauthorized in the bill but does reinforce Congress’s support for research and makes adjustments to some programs. One crucial component of the bill adjusts the cost share requirement for NIST’s Hollings Manufacturing Extension Partnership to 1:1 throughout the new authorization period.

  • Read more about COMPETES Act Reauthorized without Funding

$70 Million Awarded to New Biopharmaceuticals Institute

Tuesday, December 20, 2016

The National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL) becomes the eleventh institute in the Manufacturing USA network, U.S. Secretary of Commerce Penny Pritzker announced last week. The $70 million award marks the first institute with a focus area proposed by industry and the first funded by the U.S. Department of Commerce (DOC).

  • Read more about $70 Million Awarded to New Biopharmaceuticals Institute

Top Stories from 2016 and a Preview of 2017

Tuesday, December 20, 2016

This week, we take a look at the top SSTI Weekly Digest stories from 2016 and give you an idea of what to look for in the coming months.

  • Read more about Top Stories from 2016 and a Preview of 2017

VC capital 2016 review, 2017 outlook

Thursday, January 5, 2017

After a down year for both the number of venture capital (VC) deals and the total dollars invested in U.S.-based startups, analysts remain split on whether 2017 will be a continuation of the downward trend or a rebound year. Those bullish on the market point toward strong fundraising totals in 2015-2016 and a likely uptick in the number of initial public offering (IPO) market. Whereas, those bearish on the VC market are concerned about a congested industry.

  • Read more about VC capital 2016 review, 2017 outlook

SBA launches 2017 InnovateHER business challenge

Thursday, January 5, 2017

The U.S. Small Business Administration (SBA) launched the 2017 InnovateHER: Innovating for Women Business Challenge – a cross-cutting prize competition to unearth innovative products and services that help impact and empower the lives of women and families.

  • Read more about SBA launches 2017 InnovateHER business challenge

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Recent news from SSTI Weekly Digest

Which states stand to benefit the most from the new Opportunity Zone criteria?

Thursday, November 6, 2025

Just 19% of the approximately 25,000 census tracts potentially eligible for Opportunity Zone (OZ) designation are “More likely to attract OZ investment, with larger impact,” per the Urban Institute’s new OZ Designation Tool.1 The majority (68%) of potentially eligible tracts were found to be “Less likely to attract OZ investment,” while the remaining 13% were determined likely to attract capital regardless of OZ designation.

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When disaster strikes, TBED initiatives are focusing on economic and social impacts 

Thursday, November 6, 2025

Disaster relief is not directly within the purview of technology-based economic development organizations. Nonetheless, disasters frequently impact the partners and constituents of TBED organizations and exacerbate the social determinants of economic growth. Therefore, teams of people from TBED organizations frequently choose to step up and step out of their economic development sphere and engage in societal recovery from disasters.

                                     

Roundup of 2025 off-year elections 

Thursday, November 6, 2025

This week’s 2025 off-year elections resulted in two new governors, solidified legislative Democratic majorities in New Jersey and Virginia, and the approval of significant ballot measures in California and Texas. While the gubernatorial campaigns centered on affordability and tapped into an electorate’s concerns about state and national economies, they also kick off speculation on the 2026 midterms.  

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