A recent $10 billion judgment against Philip Morris may have the tobacco giant filing bankruptcy. Philip Morris has claimed it cannot post a $12 billion bond to appeal a lawsuit in Illinois or even meet the $2.6 billion payment due mid-April for the 1998 settlement with the states.
Pennsylvania Governor Edward Rendell recently unveiled an economic stimulus program that will invest nearly $2 billion in bonds and loan guarantees. The stimulus program is intended to leverage at least $5 billion in private investment in economic development projects, creating jobs in Pennsylvania's small and mid-size cities and towns.
Key provisions of Plan for a New Pennsylvania include:
The past week has marked the beginning of two public initiatives in Washington State to increase the availability of financing for technology firms.
The American Association for the Advancement of Science (AAAS) has posted an online version of its 304-page analysis of the research and development portion of the President's FY04 budget request. After a five-chapter overview, which includes a brief look at declining industrial R&D expenditures, the report breaks down the $122.5 billion request for R&D for seven federal agencies.
An update to Louisiana: Vision 2020, a strategic plan to improve the Louisiana economy, calls for creating more quality jobs in the state's high growth sectors. First released by the Louisiana Economic Development Council in 1998, the newly revised plan also stresses the need to place increased importance on early childhood education, teacher quality and math and reading performance among high school students as keys to boosting student achievement.
The business incubation industry has grown dramatically since 1998, both in the number of programs in operation and the depth and breadth of services they offer, according to 2002 State of the Business Incubation Industry, a recent report by the National Business Incubation Association (NBIA).
Corporate, community and independent foundations can be significant sources of funding for local and regional technology-based economic development initiatives. Unfortunately, the first look at growth and giving estimates for 2002 and 2003, suggests foundations may be less charitable than previous years to new and existing grantees.
A recent study released by the AeA reported a decline of 560,000 high-tech jobs in the U.S. over the period from January 2001 to December 2002. However, AeA’s Tech Employment Update may not show the true magnitude of the decrease in high-tech jobs, as the AeA definition of high-tech excludes many industrial sectors with significant R&D investments.
Two of SSTI's sister organizations for promoting technology-based economic development (TBED) had items of potential interest to the readers of the SSTI Weekly Digest in their e-newsletters this week. The highlights below include links for more information.
The Institute for Government Innovations has announced it is accepting applications for the 17th Annual Innovations in American Government Awards, ultimately to identify outstanding examples of creative problem solving in the public sector.
The Ontario Ministry of Enterprise, Opportunity and Innovation has launched a two-phase, $30 million program intended to accelerate the development of Ontario's biotechnology cluster. The Biotechnology Cluster Innovation Program (BCIP) will support biotechnology infrastructure projects that will help create new companies.
Most practitioners who have been in the tech-based economic development field long enough know the presence of a strong research university can make the job much easier. New innovations and technologies to commercialize through licensing and spinoff companies, research facilities and experts to partner with local companies, and a constant supply of fresh graduates for the workforce are just a few of the benefits a research institution can offer the local and regional economy.
The National Center for Small Communities (NCSC) is offering a new toolkit to help small communities establish more competitive positions in the knowledge economy through aggressive information technology adoption strategies.
Factors such as globalization, trade liberalization and consumer preferences have changed the way agricultural research is conducted, and advances in biotechnology and genomics, ecosystem science and social science have altered the overall agricultural landscape. However, the United States' leading agricultural research service is not quite ready to adapt to this changing environment with its traditional organizational structure, states a new report published by the National Academies.
A technically-skilled workforce is one of the elements required for a tech-based economy, so the issue of stopping the brain drain is of critical importance to some regions and states. The choice for some states, it has been observed, is to turn into retirement homes or to retain their college graduates; in short, to avoid losing their minds. Maine, Ohio, and Pennsylvania are just a few of the states that have been looking at the issue.
A recent study by the Council for Education Policy, Research and Improvement finds that State University System Centers and Institutes (C&Is) in Florida are cost-effective and creative settings for scientific discovery, technological innovation, policy development, teaching and instruction and public outreach activities.
The legal ban on non-compete contracts may have played a role in and continues to affect the development of the high tech sector in California. This is the conclusion of Rob Valletta, Research Advisor, in the August 16, 2002, edition of the Federal Reserve Bank of San Francisco Economic Letter. The article, On the Move: California Employment Law and High-Tech Development analyzes the relationship between high tech development and states that do not legally allow non-compete contracts.
The Environmental Protection Agency has posted its selections for the FY 2002 Phase I solicitation of the Small Business Innovation Research (SBIR) Program.
The Council on Competitiveness, a non-profit, Washington-based organization, is seeking an executive director for its new National Center on Regional Innovation and Competitiveness. The new center will identify and advance innovation-based regional development strategies, conduct regional workshops, and disseminate best practices in managing regional innovation.
Charlotte A. Hayes, president of DCTech, the Washington DC Technology Council, has resigned to return to the private sector. John Sanders has been named interim president, while the council seeks a permanent replacement.
Jim Hayes is serving as interim president of the Economic Development Partnership of Alabama as the group works to fill the position. Hayes was a former director of the Alabama Development Office.
Charlotte A. Hayes, president of DCTech, the Washington DC Technology Council, has resigned to return to the private sector. John Sanders has been named interim president, while the council seeks a permanent replacement.
Jim Hayes is serving as interim president of the Economic Development Partnership of Alabama as the group works to fill the position. Hayes was a former director of the Alabama Development Office.
William Parsons is serving as acting executive director of the Rhode Island Economic Development Corp. Parsons is the vice president of operations.
Correction: Lara Vande Walle is the director of membership and business development for the Maryland Technology Council, not Maryland's TEDCO as was previously reported.
The Carolina Center for Competitive Economies (C3E) at the University of North Carolina, Chapel Hill, invites applications for the position of Associate Director for Research.