The budget agreement passed by Maryland lawmakers earlier this month includes funding for several initiatives in support of Gov. Martin O'Malley's plan to invest more than $1 billion over ten years in Maryland's biotechnology industry. Declining state revenues as a result of the recession were not without their impact, however.
The most recent annual report of Ohio's Third Frontier initiative announced $3.52 billion in non-state resources has been provided for affiliated projects and companies - a nine to one ratio of state dollars leveraged. Since the Third Frontier's creation in 2002, $893 million in state funds have been awarded, with $403 million of that amount expended to date.
As credit and early-stage investment capital become increasingly scarce, more state, regional and local governments and organizations are stepping in to help local entrepreneurs get their companies off the ground. In many cases, offering equity investments is not always an attractive option to the public organization.
The role of a technology incubator or accelerator for supporting nascent firms generally is regarded with the utmost importance by the tech-based economic development community. Tech incubators provide essential resources for startup companies to develop and commercialize new technologies, leading to the creation of high-quality jobs.
In honor of Earth Day, SSTI has prepared a special edition of the SSTI Weekly Digest focused almost exclusively on green issues, ranging from a round-up of recent developments to encourage the creation and growth of alternative energy companies to a profile of Toledo's solar success story. Enjoy the news, and pass this issue along to others you think would be interested-but do it electronically, please.
Though green jobs have become the focus of many TBED initiatives at the federal, state and local levels, it remains difficult to estimate the size of the green workforce. Green jobs are a relatively new focus for economic development, and there is no standard definition of the green economy and green occupations. Several recent reports have taken on the task of defining green jobs, including the industry sectors that should be folded into that definition.
Green stimulus investments have the potential to yield a greater number of jobs and greater long-term prosperity than traditional stimulus investments, according to a new study presented at the recent G20 summit. The report examines the stimulus packages passed in the G20 countries, particularly their relative emphasis on spending related to sustainability.
In the midst of a national economic recession contributing to a record number of job losses in traditional industries, forward thinking states are exploring ideas and committing funds to help grow and diversify their economies and strengthen their renewable energy portfolios.
On April 14, the National Science Board NSB released for public comment a draft report, Building a Sustainable Energy Future, which calls on the nation to lead the fundamental transformation of the current energy economy from one that is dependent on fossil fuel to one that thrives on sustainable and clean energy. The draft NSB report outlines key findings and makes recommendations for the federal government, with specific priority guidance for the National Science Foundation.
Within the last two weeks, both Kentucky and Michigan announced major developments in their ongoing efforts to build a statewide advanced battery industry. With these initiatives, the states hope to better position themselves for upcoming rounds of advanced battery development grants from the federal government and other future sources of investment.
Last week, the Board of Trustees at the University of Toledo approved the creation of a School of Solar and Advanced Renewable Energy. The School will integrate faculty from multiple science, engineering, and business disciplines to offer its own degrees and perform collaborative research, often with industrial partners associated with the region's established solar energy and photovoltaics cluster.
Complete descriptions of these opportunities and others are available at: http://www.ssti.org/posting.htm.
Together, we’re growing a strong and vibrant tech-based economic development community.
State Sponsors
Virginia Economic Development Partnership
Washington Life Sciences Discovery Fund
Affiliates
While there is no question that the economic recession has taken a toll on states' fiscal conditions, the degree by which states are affected can vary widely from one state to another, as evidenced most recently in Arkansas and Georgia. In Arkansas, legislators wrapped up their 2009 session with a plan to distribute a $300 million surplus, while the budget agreement made in Georgia would cut spending by $1.6 billion in the coming year.
South Dakota shows a $3 million TBED investment in strategic research areas can yield impressive results for a state strengthening its position in an innovation-based economy.
The expansion of undergraduate science programs within foreign countries positively affects the number of students from these same countries seeking advanced degrees at U.S. academic institutions. However, as foreign countries experience the maturation and growth of their doctoral-level programs, combined with growing employment opportunities in their economies, the flow of students to the U.S. changes.
Useful stats columns in recent issues of the Digest have characterized academic R&D expenditures from two different angles: those expenditures made from industrial sources of funding (April 1) and total academic R&D expenditures (Mar 25). The primary source for the data was the National Science Foundation's Academic R&D Expenditures series, the compilation of an annual survey NSF conducts of the 680 largest academic institutions in the country.
The complete description of this opportunity and others are available at http://www.ssti.org/posting.htm.
The business development organizations Ann Arbor SPARK and Ann Arbor IT Zone are in the process of finalizing a merger. The resulting organization will be Ann Arbor SPARK.
Canada's 17 research parks have agreed to join forces, creating a formal association.
The business development organizations Ann Arbor SPARK and Ann Arbor IT Zone are in the process of finalizing a merger. The resulting organization will be Ann Arbor SPARK.
Canada's 17 research parks have agreed to join forces, creating a formal association.
Conexus Indiana, a new initiative focused on the state’s advanced manufacturing and logistics industries, will be led by President and CEO Carol D’Amico, former executive vice president and chancellor of Ivy Tech Community College.
Utah Gov. Jon Huntsman has named Dr. Ragula Bhaskar chairman of the Governor's Office of Economic Development (GOED) Board. In addition, GOED has appointed Tamara Goetz as the state's new science advisor.
Alex Fischer, formerly Oak Ridge National Laboratory's director of technology and economic development, has been tapped as the new vice president for commercialization for Battelle.
Rick Homans announced that he will step down as executive director of the New Mexico Spaceport Authority, effective July 27.