A recent $10 billion judgment against Philip Morris may have the tobacco giant filing bankruptcy. Philip Morris has claimed it cannot post a $12 billion bond to appeal a lawsuit in Illinois or even meet the $2.6 billion payment due mid-April for the 1998 settlement with the states.
Pennsylvania Governor Edward Rendell recently unveiled an economic stimulus program that will invest nearly $2 billion in bonds and loan guarantees. The stimulus program is intended to leverage at least $5 billion in private investment in economic development projects, creating jobs in Pennsylvania's small and mid-size cities and towns.
Key provisions of Plan for a New Pennsylvania include:
The past week has marked the beginning of two public initiatives in Washington State to increase the availability of financing for technology firms.
The American Association for the Advancement of Science (AAAS) has posted an online version of its 304-page analysis of the research and development portion of the President's FY04 budget request. After a five-chapter overview, which includes a brief look at declining industrial R&D expenditures, the report breaks down the $122.5 billion request for R&D for seven federal agencies.
An update to Louisiana: Vision 2020, a strategic plan to improve the Louisiana economy, calls for creating more quality jobs in the state's high growth sectors. First released by the Louisiana Economic Development Council in 1998, the newly revised plan also stresses the need to place increased importance on early childhood education, teacher quality and math and reading performance among high school students as keys to boosting student achievement.
The business incubation industry has grown dramatically since 1998, both in the number of programs in operation and the depth and breadth of services they offer, according to 2002 State of the Business Incubation Industry, a recent report by the National Business Incubation Association (NBIA).
Corporate, community and independent foundations can be significant sources of funding for local and regional technology-based economic development initiatives. Unfortunately, the first look at growth and giving estimates for 2002 and 2003, suggests foundations may be less charitable than previous years to new and existing grantees.
A recent study released by the AeA reported a decline of 560,000 high-tech jobs in the U.S. over the period from January 2001 to December 2002. However, AeA’s Tech Employment Update may not show the true magnitude of the decrease in high-tech jobs, as the AeA definition of high-tech excludes many industrial sectors with significant R&D investments.
Two of SSTI's sister organizations for promoting technology-based economic development (TBED) had items of potential interest to the readers of the SSTI Weekly Digest in their e-newsletters this week. The highlights below include links for more information.
The Institute for Government Innovations has announced it is accepting applications for the 17th Annual Innovations in American Government Awards, ultimately to identify outstanding examples of creative problem solving in the public sector.
On the heels of the release of two roadmaps calling for increased state support for advanced manufacturing and information technology (IT), Iowa Gov. Tom Vilsack announced plans to spend $50 million "to attract leading scientists to Iowa and spark new research and product development," according to the Des Moines Register.
The available pool of equity capital grew substantially last Thursday as the board of trustees for the $31.7 billion Alaska Permanent Fund approved the placement of 8 percent of the fund's value into alternative assets, such as venture capital funds and hedge funds. The Associated Press reports the current value of all alternative investments held by the Permanent Fund totals $292 million.
While Indiana has demonstrated strong competitiveness in industry and university R&D and performed well in entrepreneurial programs, the state lags most of its regional competitors and many of the 50 states in terms of production of new innovation workers and educational attainment, says a new report from Techpoint and the Indiana Chamber of Commerce.
The Association of University Technology Managers (AUTM) has released the 92-page summary report for its 14th annual survey of university licensing, revealing steady growth in the field. AUTM U.S. Licensing Survey: FY 2004 provides quantitative information about licensing activities at universities, hospitals and research institutions across North America.
Correction: In last week's People column, Tom Walker's new title was incorrect. Mr Walker is executive vice president and chief operating officer of the Oklahoma Technology Commercialization Center.
Richard Greene, director of the Arlington Technology Incubator and former mayor of Arlington Texas, has been appointed regional administrator of the U.S. EPA.
Correction: In last week's People column, Tom Walker's new title was incorrect. Mr Walker is executive vice president and chief operating officer of the Oklahoma Technology Commercialization Center.
Richard Greene, director of the Arlington Technology Incubator and former mayor of Arlington Texas, has been appointed regional administrator of the U.S. EPA.
Doris Freedman has announced she is leaving the National Commission on Entrepreneurship effective March 31.
Colorado Governor Bill Owens has appointed Paul Ray as the state's first director of biosciences.
Peter Slate will preside as chief executive officer over the Arizona Technology Enterprises, the newly created limited liability company formed by spinning off Arizona State University's technology transfer office.
The Ontario Ministry of Enterprise, Opportunity and Innovation has launched a two-phase, $30 million program intended to accelerate the development of Ontario's biotechnology cluster. The Biotechnology Cluster Innovation Program (BCIP) will support biotechnology infrastructure projects that will help create new companies.
Most practitioners who have been in the tech-based economic development field long enough know the presence of a strong research university can make the job much easier. New innovations and technologies to commercialize through licensing and spinoff companies, research facilities and experts to partner with local companies, and a constant supply of fresh graduates for the workforce are just a few of the benefits a research institution can offer the local and regional economy.
The National Center for Small Communities (NCSC) is offering a new toolkit to help small communities establish more competitive positions in the knowledge economy through aggressive information technology adoption strategies.
Factors such as globalization, trade liberalization and consumer preferences have changed the way agricultural research is conducted, and advances in biotechnology and genomics, ecosystem science and social science have altered the overall agricultural landscape. However, the United States' leading agricultural research service is not quite ready to adapt to this changing environment with its traditional organizational structure, states a new report published by the National Academies.