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Over the course of 2020, Americans reported a total of $4.2 billion in losses due to internet fraud and cybercrime, an increase from the $3.5 billion reported in 2019. In addition, the Federal Bureau of Investigation’s Internet Crime Complaint Center experienced a record number of reports surrounding cybercrime and internet fraud: 791,790 total complaints were filed throughout 2020, a 69 percent increase from 2019.

Facing current challenges and a changing economy, Oregon is turning to innovation-based economic growth. Their new 10-year Innovation Plan focuses on ensuring a competitive position through four means — traded sector industries that constantly innovate; a robust entrepreneurial ecosystem; financial capital markets that are open to investing in innovative firms and entrepreneurs; and promoting itself as a place to start and grow in innovative company.

The Federal Communications Commission (FCC) estimates that nearly one-fourth of the rural population —14.5 million people — lack access to broadband services. In tribal areas, nearly one-third of the population lacks access. Even in areas where broadband is available, approximately 100 million Americans still do not subscribe to services.

Last week not only marked the anniversary of the COVID-19 pandemic, but also the release of updated employment data from the U.S. Bureau of Labor Statistics (BLS). The monthly data shows that the pandemic had a very unusual effect on workers, experienced both as a uniquely-chaotic period of labor force participation, but also as an unprecedented immediate drop in employment. The graphic captures just how chaotic the last year has been.

Several more State of the State addresses were delivered already this month, leaving just a few states yet to go and the pandemic and recovery from the pandemic, not surprisingly, continue to feature heavily in governors’ plans. Energy opportunities, tax cuts, broadband and shifts in the model for higher education are in play in this week’s review of addresses from California, Florida, New Hampshire and Wyoming.

While the overall rate of new entrepreneurs experienced an increase throughout 2020, the share of those who created their business out of choice instead of necessity declined during the past year, reflecting the national economic instabilities caused by the COVID-19 pandemic.

Manufacturing activity has rebounded sharply from the depths of last year’s slowdown due to the pandemic and global recession, according to the National Association of Manufacturers (NAM) first quarter outlook survey. The survey marked the third straight quarter of increased optimism among respondents, with 87.6 percent of manufacturers saying they felt either somewhat or very positive about their company’s outlook.

While the Appalachian region began the 21st century by expanding the reaches of its fossil fuel industries, clean energy development and carbon emission reductions are not yet out of reach for Pennsylvania, Ohio and West Virginia. A set of reports developed by the University of Massachusetts’ Political Economy Research Institute (PERI) present opportunities available to these states for the advancement of clean energy technologies within the region while also detailing the economic and employment benefits of potential climate stabilization programs.

Having interdisciplinary teams of scientists and relationships with “star” entrepreneurs are factors that can influence the chances for academic discoveries to reach the commercialization stage. While proximity to capital has traditionally been viewed as the core stimulus for academic commercialization, a recently released working paper by the National Bureau of Economic Research reexamines the variables that play a role in the commercialization of academic sciences, and provides new insight into the importance of team composition throughout the commercialization process.

A recent Economic Commentary from the Federal Reserve Bank of Cleveland reviews the early research surrounding the effects of the pandemic on education and examines three specific areas of concern: the spread of the virus through in-person school settings; the impact of K-12 school closures on labor force participation; and, the effects of virtual schooling on

The American Rescue Plan Act, a $1.9 trillion spending package to address the ongoing health and economic impacts of COVID-19, was signed into law today. The legislation includes several initiatives that could strengthen regional innovation economies. Most notable among these is the $10 billion State Small Business Credit Initiative (SSBCI), $3 billion for the Economic Development Administration (EDA), and $350 billion for state and local government relief.

SSBCI Reauthorization

The Appalachian Regional Commission (ARC) is seeking public input to help identify critical opportunities and challenges facing Appalachia’s economic future through a series of virtual sessions taking place in April. ARC will use the insights gathered from these public sessions in the development of a strategic plan to inform investment priorities for fiscal years 2022-2026. Sessions are free, but pre-registration is required.

In January, the Office of Management and Budget (OMB) posted a request for public comment on the recommendations it has received from the Metropolitan and Micropolitan Statistical Area Standards Review Committee for changes to metropolitan and micropolitan statistical area standards. The 123 comments that have been recorded to date reflect a level of concern regarding changing the population threshold for urban areas and the impact on future funding that would have for these areas.

To bolster its already thriving technology sector, the city of Austin, Texas, has partnered with Opportunity Hub (OHUB) and others from industry and academia to bring a new Equity District to the city.

Last week, members of SSTI’s Innovation Advocacy Council headed online for this year’s Hill Days in support of increases to FY 2022 appropriations for key innovation programs. Congresswoman Haley Stevens, vice-chair of the House Committee on Science, Space and Technology, kicked off the meetings by speaking with the IAC members. Stevens focused the group on the importance of science and innovation in helping to address the country’s immediate crises, as well as improving our long-term competitiveness.

States often estimate their participation in the Small Business Innovation Research (SBIR) program by counting the number of awards made, total of award value, or (when available) the success rate of applications in their state. In this edition of SSTI Useful Stats, we attempt to go beyond these measures to estimate states’ untapped potential for capturing future SBIR awards. This creates a baseline proxy for tailoring and assessing a state’s outreach and support activities.

Last month, Gov. Laura Kelly (D), alongside former state governors Mike Hayden (R) and John Carlin (D), and the Lt. Gov.

State revenues experienced their steepest plunge in 25 years in the final quarter of the fiscal year ending June 30, 2020, according to a recent analysis by Pew. It also notes that while some of those revenues were expected to be recovered, nearly half of all states were still projecting revenue declines this fiscal year.

In an event organized by the Hutchins Center on fiscal and Monetary Policy at Brookings, academics from some of the nation’s leading universities sought to answer questions centered around Opportunity Zones (OZs), including what is the goal of OZs, are they helping, and how would we know? The 2017 Tax Cuts and Jobs Act created more than 8,700 Opportunity Zones (OZs) across the United States. The program was intended to spur economic development in distressed communities and offered favorable capital gains tax treatment to investments in such locations.

The U.S. Senate Committee on Commerce, Science and Transportation announced a new structure for its subcommittees in the 117th Congress, bringing the total number from six to seven. The subcommittees are:

The Ewing Marion Kauffman Foundation and Start Us Up coalition announced an update to the America’s New Business Plan platform to advance entrepreneurship. The update places a strong emphasis on the importance of addressing the historical inequities of the American economy, as well as the urgent concerns of the coronavirus pandemic. The lead-in to the specific policy proposals also acknowledges the importance of providing sufficient support to new companies, not just all small businesses.

As governors continue to roll out their State-of-the State addresses in the month of February, we continue to see a heavy focus on recovering from the pandemic. Given most state’s fiscal condition, governors have been generally hesitant to roll out new initiatives during this time, although broadband continues to receive attention, especially with the renewed attention surrounding its importance during the pandemic.

Discussions surrounding automation’s power and the effect it could have on jobs have only increased over time. The current pandemic adds to the debate of whether automation and robotics, which are unaffected by viruses and have the potential for cost savings, could offer a safer bet for industries than human labor. Such are the debates the authors of a new working paper considered in their research examining jobs that were identified in the past as being at risk of elimination through automation.

This week, the U.S. Economic Development Administration announced that the Build to Scale program has opened for applications. The Build to Scale program provides operating funding for tech-based economic development initiatives in regional economies. This program has long been a top priority for SSTI’s Innovation Advocacy Council, and we are happy that our continued success in raising the program’s appropriation means this year’s funding opportunity will award $38 million in grants.

The Government Accountability Office (GAO) has updated its Technology Assessment Design Handbook, a program evaluation tool designed to assist in the development of robust technology assessments. First released to the public in December 2019, the handbook now includes additions based on the experiences of GAO teams, a review of relevant literature, and comments submitted by external experts. It also provides a high-level process for developing policy options.