New York's initiatives to support technology-based economic development (TBED) will share more than $520 million in state appropriations during Fiscal Year 2003. The highlight: two originally competing budget proposals to support university-based centers of excellence survived with a combined $470 million in state funds (see the Jan. 5, 2001 issue of the SSTI Weekly Digest for background).
Senate Bill 1844, signed by Governor Jeb Bush this week, provides $30 million to create Centers of Excellence and includes several other key elements of the Florida Technology Development Initiative, proposed by Governor Bush in his State of the State speech this year.
Program expected to yield $15B in new capital for underserved communities
Six national, community-based financial services organizations recently announced the formation of New Markets Advisors to help investors identify opportunities using the New Markets Tax Credit.
Earlier this month, Kansas passed legislation to encourage $40 million in private equity investment. Alabama passed a $100 million bill for CAPCOs. Similar legislation aimed to increase the amount of venture capital available locally has passed at least one chamber in the South Carolina and Ohio state legislatures. Pennsylvania pension funds, after taking a bath in the dot.com crash and current recession are increasing the percentage of their portfolios placed in venture capital.
Generating $48.7 million in tax revenues to local and state governments and 5,949 direct jobs, the 31 tenants of the University of Arizona Science & Technology Park had an estimated direct impact in excess of $1 billion in FY 2000-01, according to a new report from the university's Office of Economic Development.
Ohio Proposes to Join Race With the growing need to identify cleaner sources of power, coupled with recent advances in alternative energy technologies, many states are targeting science and technology investments toward fuel cells. California, Connecticut, Massachusetts and New York all have made investments in fuel cell research demonstration or commercialization projects through energy related research funds.
The Spring 2002 edition of the Isuma, the quarterly Canadian Journal of Policy Research, is dedicated to issues surrounding the New Economy. Many of the 16 papers in the free, online issue will be of interest to readers of SSTI's Weekly Digest, including:
The 2002 Special Session of the Louisiana State Legislature has yielded a series of tax credits that aim to benefit biotechnology companies in Louisiana, promote commercialization of technology, encourage R&D investments, and make the state more competitive in information technology. The tax credits are as follows:
Buffalo
The Buffalo News reports InfoNiagara, a technology council serving 230 IT companies, has signed a reciprocal membership with the Amherst Chamber of Commerce to increase the benefits offered to both organizations' members. The chamber's 2,300 members gain access to InfoNiagara's training and professional development programs, according to the paper, while the tech council is able to offer its members a variety of insurance programs the chamber has in place.
Members of the House Science Committee introduced legislation this week that would place the National Science Foundation (NSF) on a track to double the agency's budget in five years. The bill, H.R. 4664, authorizes a 15 percent increase for NSF for each of the next three years.
Earlier this week, the Michigan Economic Development Corporation (MEDC) and the Michigan Business Roundtable released a benchmarking study that used 140 indicators across seven areas to compare the state's competitiveness with 17 other states.
Washington Technology Center is seeking someone to become the first full-time program manager for the Northwest Energy Technology Collaborative. The Collaborative is a public-private partnership committed to accelerating the emergence of the Pacific Northwest's energy technology industry. The Collaborative seeks to build market-based programs that support businesses, entrepreneurs, investors, researchers and policymakers to address challenges facing this emerging industry.
Dramatic increases in research and development (R&D) investments during the past decade, largely from industry, have contributed to U.S. standing as a global economic power, according to Science and Engineering Indicators 2002, a biennial report of the National Science Board. The U.S. had $244.1 billion in R&D investments in 1999, an increase of nearly $33 billion from 1997, the report shows. In addition, the U.S.
Defense Concedes: Will Honor 2.5% Set Aside
Two recent studies on Internet usage in Maryland and Maine offer detailed maps of broadband infrastructure. The studies offer some insights on how businesses and, in the case of Maryland, private citizens are accessing the Internet. Specific findings are not presented below; however, each of the studies are available in their entirety via the links that follow the respective summaries.
The National Science Foundation reports the number of doctorate awards from U.S. universities in physics, after hitting a record high in 1994, fell 22 percent by the year 2000. Doctorates in engineering declined 15 percent by the year 2000 from the 1996 peak.
With a large land mass and a population surpassing the 21 least populated states and the District of Columbia combined, California has scores of public programs and nonprofit organizations dedicated to encouraging technology-based economic development on the state, regional, local and sub-local levels. Best practices in the field, then, could have applications in a number of other states and communities.
With technology's pervasiveness and important role in most aspects of the policy agenda before Congress, the need for accurate, nonpartisan information on technology may never have been greater. Two approaches to meeting the need were the topic of Technology Assessment: Identifying the Needs of Congress, a recent forum co-hosted by ASME International and the Institute of Electrical and Electronics Engineers (IEEE).
Mike Leavitt of the Idaho National Engineering and Environmental Laboratory has been appointed the Co-chair of the Federal Laboratories Consortium State and Local Government Committee.
Tom Shea with the Office of Economic Adjustment in the Department of Defense has announced his retirement, effective September 30, 2003.
U.S. Department of Commerce Assistant Secretary Nancy Victory has announced her resignation effective mid-August. Victory led the National Telecommunications and Information Administration, which manages the $15.4 million Technology Opportunities Program.
Over the last year, there has been increased public and government attention on issues involving tech-based economic development. For much of the year, Thomas Friedman's The World is Flat has dominated the New York Times bestseller list. A series of reports from the AeA, Council on Competitiveness, and the National Academy of Sciences call for increased action by the federal government.
During his 2006 State of the Union Address, President Bush outlined a decade-long $50 billion American Competitiveness Initiative (ACI) for R&D, education and entrepreneurship. The FY 2007 downpayment on ACI is $5.9 billion, which is accomplished by shuffling priorities within a shrinking federal discretionary budget environment to find $1.3 billion in new funding and $4.6 billion in R&D tax incentives. Specifically, ACI calls for:
Perennially a favorite target for Congressional earmarks, the U.S. Department of Agriculture (USDA) budget, at $92.8 billion, is nearly $3 billion below the FY 2006 level of anticipated expenditures. More than three-fourths of the USDA budget outlays for FY 2007 are dedicated to mandatory spending programs such as nutrition assistance, conservation, export promotion and farm commodity programs. The remaining balance of $21.5 billion, $1.7 billion or 7.3 percent less than the FY06 outlay level, is for discretionary programs.
The Administration's FY 2007 $6.138 billion discretionary budget request for the Department of Commerce reflects a 4.23 percent decrease from the FY06 appropriation of $6.410 billion.