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After near unanimous passing in both chambers of the state legislature, the "Tennessee Small Business Investment Company Credit Act" was sent this week to Gov. Phil Bredesen for his signature. The legislation, designed to create a pool of at least $84 million in capital, utilizes a competitive process to select several venture capital funds to make direct investments in small business headquartered in Tennessee.

Gov. John Baldacci signed two major bills this session supporting renewable energy R&D and creating a path for building private sector jobs in clean energy businesses. Lawmakers also passed a $150 million bond package, which includes funding for ocean and wind energy demonstration projects and support for Maine technology entrepreneurs. Voters will have the final say on the bond package in three separate ballot measures presented over the next two years.

Using $62.5 million earmarked from the state energy program federal grant provided under the American Recovery and Reinvestment Act of 2009, Tennessee will create a solar institute, a solar farm five-megawatt power generation demonstration project, and implement additional renewable energy activities as part of the Volunteer State Solar Initiative approved last month by lawmakers.

Mark your calendar for Oct. 21-23 to attend SSTI's 13th annual conference Seize The Moment in Overland Park, Kansas! Past attendees know SSTI's conference is the premiere professional development event for the TBED community. And 2009 will be no exception.

Massachusetts Governor Deval Patrick recently announced plans to develop a $100 million high-performance computing center powered by clean and renewable energy in the small city of Holyoke. The center will be managed by a consortium of state agencies, universities and technology companies including the Massachusetts Institute of Technology, the University of Massachusetts, Cisco Systems and EMC Corp..

Minorities receive fewer approvals and lower cash awards through the Department of Treasury's New Markets Tax Credit (NMTC), according to a recent Government Accountability Office (GAO) report.

The methods of measuring the "innovativeness" of a region take many forms, including metrics which gauge the concentration of those inventing new ideas though patents. From data made available through the Office of the University Economist at Arizona State University, one can track over time the number of patent inventors per capita by metro area.

The Piedmont Triad Research Park laid off Bill Dean, director of the park, and Nancy Johnson, marketing director. Park officials said that the park's project manager and executive assistant also were laid off.

Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.

According to the first-ever release of gross domestic product (GDP) estimates by metro area, 327 of the nation's 363 metro areas enjoyed growth in real GDP in 2005. Only 133 of the areas accelerated faster than inflation, however. The one-year percent change in 2005 GDP for metro areas ranged from 19.4 percent in Palm Coast, Fla., to -5.4 percent in New Orleans. Real GDP declined in 36 metro areas.

Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.

On June 18, the Senate Committee on Small Business and Entrepreneurship will markup S. 1233, a bill to reauthorize and expand the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Both programs are within weeks of expiring on July 30.

A new Pew Charitable Trusts report finds far-reaching national benefits to the growth of the clean energy sector. Between 1998 and 2007, clean energy jobs grew by 9.1 percent, while total jobs grew by only 3.7 percent according to data collected by Pew. While the industry is still in infancy, its growth rate over the past decade has outpaced other emerging technology sectors that have been the focus of TBED efforts, including biotechnology.

Gov. Bob Riley signed a bill last month extending tax credits and incentives to knowledge-based industries and green employers to encourage growth and expansion in these fields throughout the state.

On Monday, legislation was introduced in a special session of the Kentucky Legislature to amend several of Kentucky's economic development incentive programs.

Competing priorities, lack of funding, and inflexible negotiation strategies are among the challenges the Government Accountability Office found for the Department of Energy's efforts to transfer technology out of the DOE labs.

With the release of advance 2008 and revised GDP statistics by the Bureau of Economic Analysis (BEA), SSTI has prepared a table showing real GDP per capita (in chained 2000 dollars) for every state and the District of Columbia for the five-year period from 2004 to 2008. The table also includes:

Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.

Albany, New York
Health Reseach Inc., a branch of the New York State Department of Health, is looking to move its Pharmacogenomics Institute to a vacant laboratory in Rensselaer Technology Park, according to a recent article published in the Times Union. The 25,000-square-foot building that housed the Virogenics Corp., a vaccine-research company that left in 2000, has not been officially purchased. The state expects to lease the site when the Rensselaer County Industrial Development Agency closes on the purchase.

On June 24 from 9:00 a.m.-12:00 p.m. in Washington, DC, SSTI is co-hosting a meeting with officials from the Technology Innovation Program (TIP) and the Manufacturing Extension Partnership (MEP) that we encourage you or one of your colleagues to attend. TIP and MEP are two of the most market-driven programs operated by the federal government. Both programs have launched new investments and innovative services in the last year. The meeting will give you a chance to learn about:

Earlier this year, Congress and President Obama, seeing an opportunity to stimulate the economy while improving the nation's digital infrastructure, set aside $7.2 billion for broadband programs in the 2009 Recovery Act (read SSTI's analysis of the Recovery Act in the February 19 issue). Citing the need for a modernized digital infrastructure to ensure U.S.

As the Nevada Legislature concluded its biennial session last week, Gov. Jim Gibbons signed several bills relating to renewable energy.

Last week the Bureau of Economic Analysis released advance 2008 and revised 2005-2007 statistics concerning GDP by state. Using these updated statistics, SSTI has prepared a table showing the real GDP for each state from 2004 to 2008 (in chained 2000 dollars), the percent change from 2007 to 2008, the five-year percent change, and the rank of each state's five-year change.

R&D Flat, but Budget Reflects Obama Administration Priorities