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Eastern Idaho Economic Development Council has changed its name to Grow Idaho Falls Inc. to better convey its mission.

An advocate for small businesses in Washington known as “Mr. Small Business,” Milton Stewart died of pneumonia on Nov. 5 in Phoenix.

Gov. Mike Rounds announced Steve Zellmer will replace Dave Snyder, who resigned his position as board member for the South Dakota Science and Technology Authority. Zellmer previously served as Commissioner, Bureau of Finance and Management and Secretary of Revenue in Pierre.

With the goal of creating new access to venture capital (VC) for area businesses, Arizona and Montana are investing up to $50 million into a “fund of funds” concept. Both states are undertaking this multi-management model with the hopes of luring high-tech start-up companies. Their efforts are described in further detail below.

Less than one week before President Bush releases the Administration's budget request for fiscal year 2008, congressional Democratic leadership released its solution to the FY 2007 fiasco. The need to remain within spending caps approved last year and the need to focus on FY08 spending meant the FY07 fix would be simple, but slightly painful for agencies used to above-inflation-rate increases each year. Sixty programs reportedly will see cuts from their FY06 funding levels.

The provincial government of Québec committed to infusing $888 million (Canadian) into its science and technology community over the next three years, as a result of the innovation and research strategy released earlier this month. The new investment is in addition to $278 million committed this year alone for research infrastructure and the Québec Aeronautical Industry Development Strategy.

 

In Iowa

Less than two weeks after his inauguration, Iowa Gov. Chet Culver called for the state legislature to lift the state ban on embryonic stem cell research. The ban was first instituted in 2002.

The question of whether or not there is enough opportunity for economic development through public-private investment in biosciences has been answered with a pretty strong “yes,” based on a report released Jan. 29 by Battelle and BIO.

 

Imagine you're going into business for yourself. You will become an entrepreneur. Do you think you would stop to consider if you should relocate to a state with lower or even higher taxes before embarking on this venture?  Probably not.

 

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:

Venture capital (VC) investing dipped in the third quarter of 2004, with $4.3 billion going to 601 companies, according to the latest MoneyTree™ Survey by PricewaterhouseCoopers, Thomson Venture Economics and National Venture Capital Association. The Q3 2004 figure was below the prior quarter of $5.9 billion, but equal to the $4.3 billion posted in Q3 2003.

Four Greensboro, N.C., economic development organizations – the Greensboro Chamber of Commerce, the Economic Development Partnership, Action Greensboro and the Development Corp. – have agreed to consolidate into the Greensboro Partnership.

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:

Norma Grace, vice chancellor for technology and economic development at the University of New Orleans, has been elected as the 2004-05 president of the Association of University Research Parks.

The South Dakota School of Mines and Technology has named Dr. Gautam Pillay to the new position of vice president for research. Pillay was executive director of the Inland Northwest Research Alliance.

Duane Roth is the new executive director of UCSD CONNECT. Roth was CEO of Alliance Pharmaceuticals in San Diego.

Michael Terry, president and CEO of EmergeMemphis, has announced he will resign at the end of the year.

Mark Benedetto, president of the University of Sioux Falls, has been elected chairman of the Sioux Falls Area Chamber of Commerce.

Mark Benedetto, president of the University of Sioux Falls, has been elected chairman of the Sioux Falls Area Chamber of Commerce.