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With assets totalling more than $15 billion, the Indiana Public Employees Retirement Fund (PERF) has decided to place $100 million into higher-risk equity placements through its first Indiana Investment Fund. The fund will exclusively target venture capital deals within Indiana, according to the PERF news release. Like pension funds in many states, PERF has a requirement to place a certain percentage of its assets in private equity. The PERF goal is 5 percent and includes real estate deals as well.

The opportunity for innovation and the need for angel capital are not limited to the major metropolitan areas and large research universities, as the board of trustees for Taylor University and leaders of the Grant County Economic Growth Council in rural Indiana will attest. The east-central Indiana county is home to just over 70,500 residents and, soon, two angel funds.

Maryland General Assembly approval of a $1 million boost for the Maryland Industrial Partnerships (MIPS) Program, one of the nation's oldest continually run programs to support university-industry research projects leading to technology commercialization, marks a 74 percent increase above the $1.35 million program budget for 2006. The increase was proposed by Gov.

While the Phoenix Metropolitan Statistical Area (MSA) has the recipe for a creative economy - people in creative occupations, industries with a creative workforce, and an environment that supports creativity - it falls short of the national average in more than 75 percent of all creative occupational categories, a new study by the Maricopa Partnership for Arts and Culture (MPAC) finds.

If you know any secondary school teachers or, like millions of Americans, you are heavily involved in high school graduation season right now, you know that the Class of `06 is not like the Class of `05 or the upcoming Class of '07. Assemblages of students tend to develop discernable class personalities as they march from kindergarten through grade 12, distinct and possibly very different than most of their individual personalities.

The beginning of 2004 finds many folks in the tech-based economic development community making career changes:

Deborah Fleischaker has been appointed deputy secretary for the New Mexico Department of Economic Development.

Deborah Fleischaker has been appointed deputy secretary for the New Mexico Department of Economic Development.

The Greater Baltimore Alliance, now renamed as the Economic Alliance of Greater Baltimore, has appointed David Gillece as chief executive officer and Christian Johansson as managing director.

Maryland's Department of Business and Economic Development has reorganized into three geographically defined divisions. Robert Hannon has been named to run the regional program.

During its annual meeting in December, members of the National League of Cities have elected Charlie Lyons, a selectman for Arlington, MA, to serve a one-year term as president.

The Acting Director for the Idaho Department of Commerce is Roger Madsen. Madsen also is serving as director of the state Department of Labor.

Joe May, president of Colorado's community college system, announced his retirement, effective in February.

The Greater Antelope Valley Economic Alliance has appointed Tony Moon as its new president.

Robert Olsen, the director of the Fitzsimons Redevelopment Authority, will become the head of the Economic Development Administration's regional office in Denver.

Robert Pozen, secretary of economic development for Massachusetts Governor Mitt Romney, announced his resignation, effective at the end of 2003.

The Michigan Economic Development Corporation has named Sandy Ring to the new position of vice president for economic development policy.

Kelvin Simmons is the new director of the Missouri Department of Economic Development, replacing Joe Driskell who held the position for 10 years. Simmons had been serving as chairman of the state's Public Service Commission.

Leroy Williams has been named as the new technology secretary for the state of Colorado. Williams, previously the state's chief information officer, will manage the Governor's Office of Innovation and Technology.

Much of the U.S. policy debate regarding the impact of globalization has focused on workforce preparedness and the need for American industry to sustain innovation. Bills before Congress urge increased spending on R&D, especially in the physical sciences and engineering. Much of the data that has helped fuel the competitiveness discussion has focused on indices and statistical reports presenting the U.S. in comparison to other nations. 

Marketing tech-based economic development (TBED) programs can be challenging, particularly with the diverse nature of its target audiences of entrepreneurs, existing companies, financial sources, university researchers and, oftentimes, legislators. Sometimes, even the name of the program can cause misconceptions, particularly when a new initiative is outside the traditional services or roles offered by the TBED organization. A recent example of this comes from South Carolina.

Summer classes, camps and special programs to stimulate and sustain K-12 students' interests in science and math will be found all across the country during the next few months. A less frequently occurring phenomenon will be taking place in the Great Lakes Region of Iowa, helping a select group of college students to combine entrepreneurship, rural economic development, and recreation.

The U.S. automotive industry is one of the nation's oldest modern manufacturing sectors, and, similar to many other older populations, is increasingly making its home in the South. Despite this fact, the sector remains heavily centered in the Midwest, according to a new article from the Federal Reserve Bank of Chicago. The Geographic Evolution of the U.S. Auto Industry reveals 47 percent of the nation's motor vehicle employment still resides in three states: Michigan, Indiana and Ohio.

The National Science Foundation (NSF) has published its online statistical resource center for state-level statistics on various science and engineering (S&E) indicators. Drawing data from the most recent updates to seven annual NSF surveys and U.S. Census statistics, the profiles includes downloadable Excel or PDF versions of state statistics for:

Although technology sector employment is down slightly from previous years, Washington firms received twice the aggregate amount of venture capital (VC) funding compared to last year, and the state remains above the national average in educational attainment, according to the sixth annual Washington State Index of Innovation and Technology.

Republican members of the House Committee on Science introduced last week three bills designed to strengthen U.S. economic competitiveness by improving math and science education and research.