A new study of the Maine Technology Institute (MTI) reveals MTI's award programs have been effective in contributing to the success of its awardees and in increasing high-tech employment in the state. The MTI evaluation, conducted by the Center for Business and Economic Research (CBER) at the University of Southern Maine, also found that the success rate of MTI's funded projects improved over the five-year history of the organization.
In just under 50 days, more than 4,000 people have gone to SSTI's website to read A Resource Guide for Technology-based Economic Development. The guide provides insights into three of the most important elements of transforming regional economies:
With the opportunity presented by a $732 million budget surplus, Gov. Linda Lingle wants Hawai`i to shift its public investment philosophy away from land development and toward encouraging, nurturing and rewarding innovation, creativity, entrepreneurship and risk-taking. Most of Gov. Lingle's State of the State Address on Jan.
Earlier this month, Gov. Janet Napolitano presented Arizonans with a three-part plan to prepare for the 21st century economy in her annual State of the State Address. The One Arizona Plan would support state economic growth by investing in education, physical infrastructure and innovation. During her address, Gov. Napolitano emphasized the need to increase Arizona’s innovation capacity and to build a technologically-savvy workforce.
The Cleantech Venture Network (CVN) announced last week that U.S. venture investment in clean technologies fell 34 percent in the fourth quarter of 2006. Investment in cleantech, which includes products and services that reduce or eliminate environmental impacts, declined to $613 million last quarter -- down from a record-breaking peak of $933 million in the previous quarter. The drop brought to an end nine consecutive quarters of gains for cleantech, but still capped a record-breaking year for VC investment in the sector.
On Jan. 17, the U.S. Department of Labor announced 13 regions across the country will share $65 million in the second round of Workforce Innovation in Regional Economic Development (WIRED) grants.
A recent report by the Florida Legislature’s Office of Program Policy and Government Accountability (OPPAGA) recommends the state’s next steps to develop its biotechnology industry should include the creation of a privately managed early-stage capital fund for investing in start-up companies, to be financed by the Legislature.
Looking for information on individual states or on key statistical indicators? If so, the SSTI Weekly Digest archives are a resource that should prove helpful in your search.
By visiting www.ssti.org/Digest/digest.htm, one can browse headlines or view Digest articles dating back to 1996 or use any of these tools:
The Commerce Department's National Institute of Standards and Technology yesterday announced 18 awards for new or expanded manufacturing extension programs. The addition of these programs expands MEP services to all 50 states and Puerto Rico, with MEP services available at 300 sites nationwide. A total of $19.6 million will be provided by the federal government to support the first year funding for these centers, with an additional $21 million being provided by states and other organizations.
State lottery would be leased to private company to finance fund, scholarships
Two initiatives recently proposed by Gov. Mitch Daniels would keep graduating college students in-state and lure world-class researchers to Indiana's public universities. However, a lottery lease plan that would, in part, finance the initiatives may be more the center of attention with Indiana legislators.
The Oregon Innovation Council (Oregon InC), which spent a year reviewing how best to expand the state’s economy by leveraging industry-supported initiatives with public investments, may get to see the toils of its labor come to fruition. Gov. Ted Kulongoski released earlier this month his 2007-09 budget, with full support for the innovation plan put out by Oregon InC.
A recent report from Hawaii’s Tax Review Commission recommends the state eliminate or drastically overhaul its five-year old tax credit for high-tech investors. According to the report, the current credit provides no clear advantage to the state and appears open to taxpayer abuse. The commission was particularly troubled by the lack of data provided by taxpayers who were approved for the credit and by the lack of transparency concerning the credit within the state’s Department of Taxation.
SSTI's most recent publication, A Resource Guide for Technology-based Economic Development, provides valuable insights into three of the most important elements of transforming regional economies:
The Kansas City region is obtaining funding for high-tech research in the life sciences, but entrepreneurship is stifled because of fragmented efforts to improve the innovation environment and the region’s lack of an overall strategy for its various stakeholders. This finding and others were identified in Completing the Puzzle: Creating a High-Tech and Life Sciences Economy in Kansas City, a recent report prepared for the Brookings Institution Metropolitan Policy Program.
In what is often seen as a leading indicator of future total international student enrollment numbers, the percentage of newly enrolled foreign students has increased 8.3 percent between the 2004-05 and 2005-06 school years. This trend and others were highlighted in the annual Open Doors Report published by the Institute of International Education. The attractiveness of the U.S.
Due to the Christmas and New Year's Day holidays, the next issue of the SSTI Weekly Digest will be published during the week of Jan. 8, 2007. Publication of the Funding Supplement also will resume in January, following this week's issue (Dec. 18, due out by Thursday).
Congress isn't the only place looking at dramatic changes in January. With 11 governors and hundreds of state legislators taking office for the first time, tech-based economic developers across the country are presented with both opportunity and challenge. A change in state leadership often presents the opportunity for positive changes in direction of outdated economic development policies and programs.
A handy resource for bringing new staff, board members and legislators quickly up to speed on TBED, A Resource Guide for Technology-based Economic Development targets a primary audience of existing practitioners looking to implement new or update older programs. SSTI compiled the book's recommendations after conducting extensive interviews with dozens of the countries leading TBED experts.
Both the Bush Administration and incoming Congressional Democrat leadership plan to put higher education under the spotlight in 2007, stressing issues of accessibility and cost containment. While their approaches to the problems will be different, both sides agree universities will play even greater roles in maintaining U.S. economic leadership in the 21st century than they have in the past.
It is unfortunate the word entrepreneurship has become as overused a buzzword as innovation because developing vibrant climates to support tech entrepreneurs remains one of the most important elements of successful state and local TBED.
Not all entrepreneurship is created equal, however. The country's standard of living will decline if it were based entirely on low-wage retail and service businesses – even if every single one of them was created by budding entrepreneurs.
The public role in increasing access to capital is, perhaps, the most controversial element of TBED – if any of the public's role in the 21st century to strengthen competitiveness in a global knowledge economy is controversial.
A Resource Guide for Technology-based Economic Development is available from SSTI as a free, downloadable PDF at http://www.ssti.org/Publications/Onlinepubs/resource_guide.pdf or as an inexpensive 90-page bound book (a format still more likely to be perused by most legislators or gubernatorial staff than a pile of printouts). Single print copies are $15 plus shipping and handling.
So far this year, SSTI's Funding Supplement has made its subscribers aware of more than 1,450 different opportunities to secure funding. Another 40-50 new opportunities will be included in this week's issue. If you aren't a subscriber, your client companies, academic researchers, and state and local TBED efforts are at a significant disadvantage.
Momentum Mississippi, the state’s public-private economic development strategy first funded with $28 million last summer, could see an additional $4 million for new TBED initiatives if the state legislature passes Gov. Haley Barbour’s recommendation during its next session. Gov. Barbour announced his plans during the annual board meeting of Momentum Mississippi, which was attended by more than 75 industrial, academic and civic leaders.
In late October, Gov. Arnold Schwarzenegger signed an executive order designed to stimulate the growth and utilization of broadband networks throughout the state of California. Some the major components of this initiative include: