Search

A wide range of research and tech-based economic development bills were approved by the Arkansas legislature, which ended its legislative session in mid-April. With proposals and support coming both from Republican Governor Huckabee and the heavily Democratic legislature, Arkansas is the latest state to demonstrate broad bipartisan support for investing in science and technology.

U.S. companies originally backed by venture capital created 4.3 million new jobs last year according to a new economic impact study released this week by the National Venture Capital Association (NVCA). Those companies generated $736 billion in revenues in the year 2000 and, according to the study, venture capital-backed businesses represented 3.3% of the nation's total jobs and 7.4% of Gross Domestic Product in 2000.

With ten firms, Chicago leaders win bragging rights for being called home by the greatest number of Inc. magazine's "Inner City 100," the fastest growing urban businesses. In fact, six of the top 50 companies were from the Windy City.



Five businesses from Buffalo won inclusion in the magazine's list, earning the New York city the unofficial title as the second most popular home. Pittsburgh, Cleveland, and Oakland, CA each had four companies on the list.

Using survey responses and a weighted index for caliber of students, curriculum, faculty, support for students, and overall program, Success Magazine has identified what it believes are the best 50 business schools for entrepreneurial education. The top honors are not necessarily the business schools that immediately jump to mind for most people.

In an attempt to attract more bioscience firms, Florida will invest up to $1 billion of its $102 billion employee pension fund into venture capital, the State Board of Administration recently announced. A forum was held last week by Enterprise Florida, the state's economic development agency, to outline the investment plan to more than 80 venture capitalists in attendance.

Two legislative bills encompassing economic development priorities of Gov. Jim Doyle’s Grow Wisconsin initiative recently were signed to provide assistance for both entrepreneurs and manufacturers.

The U.S. cannot take its position as a world leader of innovation and research for granted, suggest new initiatives sponsored by the National Science Foundation (NSF) and the Task Force on the Future of American Innovation. A report released on April 21 by NSF states the U.S. must take action, pointing out that invention requires both ingenuity and a skilled workforce.

Small firms, as much as large ones, may be key to the nation's ability to innovate, particularly in emerging fields, according to data published by the U.S. Small Business Administration (SBA). A report released earlier this year by SBA's Office of Advocacy shows that large firms in the biotechnology, medical electronics, semiconductor, and telecommunications industries are citing patents by small firms in higher-than-expected numbers.

The National Science Foundation has released a new statistical report entitled Federal Funds for Research and Development: Fiscal Years 2001, 2002, and 2003. Included among the 112 tables are 10 presenting the 2001 data by geographic distribution, performer and federal agency.

Earlier this month Governor Jeanne Shaheen released New Hampshire in the New Economy: A Vision for Expanded Prosperity, the first-ever comprehensive economic development plan for the State of New Hampshire. The plan calls for New Hampshire state government to focus its activities toward encouraging innovation, strengthening education and workforce development, retaining and protecting the quality of life, and extending economic opportunity to every citizen in every part of the state.

Legislation for the Technology Education and Training Act, introduced earlier this week by a bipartisan group of six Senators, calls for the creation of a income tax credit for businesses to offset information technology training expenses of their workers and trainees. The credit would be equal to 100 percent of the first $1,500 a business spends to train an individual worker.

Long-held opinions are hard to change. The state of the US manufacturing sector is a good example. Many people, particularly those in the Northeast and Midwest, hold tightly to memories of mass layoffs and factory closings nearly 20 years ago.

Colorado

A minimum $500 million 10-year investment to encourage biotech and entrepreneurship may soon become a reality for Kansas. With Gov. Kathleen Sebelius' approval of the Kansas Economic Growth Act, Kansas will set in motion a variety of new programs to encourage research, innovation and technology commercialization.

SSTI looks at paper on research parks

With its economy already outpacing the average growth for the member states of the Organisation for Economic Co-operation and Development (OECD) for the past five years, the Czech Republic is injecting 348 million euros ($417.6 million US) into several tech-based economic development (TBED) initiatives.

When first proposed in 2000, the concept was radical, controversial and expensive. Simply give a wireless laptop to all seventh and eighth grade students and teachers in the entire state of Maine.

Plagued by job loss and fierce global competition over recent years, several new reports indicate the manufacturing sector is beginning to see a revival as the industry continues to undergo long-term restructuring. Brief summaries of each report are provided below: