Pennsylvania’s economic development strategy should focus on building businesses rather than poaching, according to a new report from the Keystone Research Center (KRC) – All Pennsylvanians Prospering Together (APP): A Pennsylvania Economic Development Strategy for the Long Term.
In order to build a prosperous, globally competitive economy in Louisiana, state universities must take on a greater role as hubs of regional innovation, according to a report from the Public Affairs Research (PAR) Council of Louisiana. The report includes 46 recommendations to transform the state's economy by revamping existing innovation programs, and boosting university research. PAR's strategic plan is based on a review of innovation policies in other states, particularly Georgia and the work of the Georgia Research Alliance.
Although the percentage of college graduates with science and engineering (S&E) or S&E-related majors has increased, the proportion of college graduates employed in an S&E occupation has remained relatively unchanged at 10 percent since 1993, according to a recently released InfoBrief from the National Science Foundation’s National Center for Engineering Statistics.
The Small Business Administration (SBA) announced that it will commit $4 million to the second round of the Growth Accelerator Fund Competition. Launched in 2014, the competition makes awards of $50,000 each to help fund operating budgets for accelerators and other entrepreneurial ecosystem models in parts of the country where there are fewer conventional sources of access to capital (e.g., venture capital and angel capital investors). For this round of funding, applications are encouraged from manufacturing accelerator models. Applications are due June 1.
The rise of advanced manufacturing has opened the door to a resurgence of New England's manufacturing economy, according to a new report from The New England Council and Deloitte Consulting LLC. In Advanced to Advantageous: The Case for New England's Manufacturing Revolution, the authors suggest that the existing network of universities, private manufacturers and government partners give the region a competitive advantage in advanced prototyping, additive manufacturing and the Internet of Things.
Throughout the United States, policymakers continuously call on entrepreneurs to be an important cog in the economic engine. One of the key barriers to entrepreneurship, however, has grown largely as a result of state policies: burdensome student loan debt. In the United States, the total amount of student debt is estimated at $1.2 trillion, a record high, according to the Consumer Financial Protection Bureau.
The Illinois Accelerator Research Center (IARC) is a new research facility for scientists and engineers from Fermilab, Argonne, and Illinois universities to work alongside industrial partners to develop breakthroughs in accelerator science and apply them to areas such as computing, health, indus
Even after equity crowdfunding reached a milestone earlier this month with new Securities Exchange Commission proposed rule changes, state legislatures across the country continue to pass intrastate crowdfunding bills.
Following a lively debate over education funding, state worker pay and pensions, Maryland legislators approved a $40 billion budget. Under the approved legislation, $68 million would be available to support the state's most expensive school districts. Gov.
In 2014, Angel groups in the Great Lakes region invested more dollars than anywhere else in the country, 17.2 percent of the U.S. total, including angel groups in California (17 percent). This marks the first time a U.S.
Although the benefits of basic research are often misunderstood due to their lack of immediate payoff, a new report by the MIT Committee to Evaluate the Innovation Deficit finds that this research is of the utmost importance in sustaining U.S. economic competitiveness. In The Future Postponed: Why Declining Investment in Basic Research Threatens a U.S.
As a component of the U.S. Department of Commerce’s Skills for Business initiative, The Communities That Work Partnership is a new joint project aimed at accelerating industry-led workforce development and training efforts.
Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review actions in Alaska, Colorado and Indiana.
Veolia, The Water Council, and the Wisconsin Economic Development Corporation have reached an agreement to launch the emPowering Opportunities in Water (POW!) program – a two-year national competition to support entrepreneurship and economic development while fostering sustainability efforts in the field of water.
The Economic Development Administration (EDA) announced $3 million in planning assistance to communities impacted, or which may be impacted, by contractions in the coal economy. The funds were made available in part due to the newly established Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) initiative, a new interagency effort to assist communities negatively impacted by changes in the coal industry and power sector.
In 2010, 16.5 million individuals indicated that their job required at least a bachelor's degree level in a STEM field, according to a new report by the National Science Board (NSB) – Revisiting the STEM Workforce. These positions included many positions that are not traditional thought of as STEM jobs such as sales, marketing, and management.
The Delta Regional Authority (DRA) announced the establishment of a consortium for research and innovation that is intended to have a long-term positive economic impact on the region. The 35-member consortium will be comprised of universities and other private and public institutions in eight states – Alabama, Arkansas, Illinois, Kentucky, Louisiana, Mississippi, Missouri, and Tennessee.
State Treasurer Janet Cowell announced a second North Carolina Innovation Fund (NCIF), a $250 million commitment to North Carolina-centered companies. Approximately $165 million will be designated to make co-investments in growth stage companies with the potential for a risk-adjusted, high return on investment (ROI) – 20 percent ROI. The second NCIF will make targeted investments into a diverse set of industries that include key sector identified by the state as growth sectors.
As a whole, research produced in the U.S. is cited 49 percent more than the world average, according to a new report by the academic publishing company Elsevier in partnership with the Council of State Governments (CSG).
A new website, Resources for Transitioning Economies, has been created to assist those interested in diversifying and strengthening their local economies, with an emphasis on county and regional leaders in coal-reliant communities. As part of a cooperative agreement between the National Association of Counties (NACo) and the U.S.
Two private venture firms have committed to raising a total of $125 million to invest in rural, early stage startups under the Department of Agriculture's Rural Business Investment Program. The program was launched last April, when Advantage Capital Partners launched the first $150 million Rural Business Investment Company (RBIC) fund.
Georgia lawmakers have approved a $40 billion FY16 state budget (HB 76), which is now awaiting the signature of Gov. Nathan Deal. The governor has line-item veto authority over the final document, but most appropriations related to innovation and economic development are consistent with the governor's proposed levels.
Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review actions in Missouri and Montana.
Forty-one states are spending less per student than before the 2008 recession, according to a recent study from the Center on Budget and Policy Priorities. As a result, more of the burden of higher education costs is being passed on to students, putting college out of reach for many. With state budgets still tight, many states are experimenting with new ways to make a college education accessible to all students.
Many promising technologies created by Oregon startups wither on the vine due to a shortage of high-risk angel capital and many other startups leave the state in search of funding, according to a new report from the Technology Association of Oregon (TAO) – Oregon Angel Investment: The Economic Impact of High-Risk Investment in Oregon's Entrepreneurial Enterprises.