The number of tech workers immigrating to the U.S. for jobs in the IT industry are down more than 50 percent compared to a year ago, according to figures released by the Immigration and Naturalization Service (INS) this week. With hundreds of dot-com closures and tens of thousands of layoffs in the information and communication technology industries, the drop was expected by many analysts.
Recognizing the potential economic impact of biotech, nearly every state, most colleges and dozens of communities are developing programs to build bio-based economies. Everyone wants a piece of what may be the guiding field for industrial transformation over the next several decades. Is there enough bio for everyone? What strategies work for building bio-based economies? What approaches are states and localities taking, and what's working?
Venture capital investment continued downward in the second quarter of 2002, according to the PricewaterhouseCoopers/Venture Economics/National Venture Capital Association MoneyTree™ Survey.
The legal ban on non-compete contracts may have played a role in and continues to affect the development of the high tech sector in California. This is the conclusion of Rob Valletta, Research Advisor, in the August 16, 2002, edition of the Federal Reserve Bank of San Francisco Economic Letter. The article, On the Move: California Employment Law and High-Tech Development analyzes the relationship between high tech development and states that do not legally allow non-compete contracts.
Arizona was one of the first states to embrace cluster-based economic development in the early 1990s. While the formal clusters have had varying degrees of success since then, one of the challenges of a cluster-based approach to technology-based economic development is the fractionalized focus across sectors. Because of this, clusters can end up competing against each other for limited public resources, making cross-sector strategies difficult to identify or implement.
The Environmental Protection Agency has posted its selections for the FY 2002 Phase I solicitation of the Small Business Innovation Research (SBIR) Program.
The Council on Competitiveness, a non-profit, Washington-based organization, is seeking an executive director for its new National Center on Regional Innovation and Competitiveness. The new center will identify and advance innovation-based regional development strategies, conduct regional workshops, and disseminate best practices in managing regional innovation.
Charlotte A. Hayes, president of DCTech, the Washington DC Technology Council, has resigned to return to the private sector. John Sanders has been named interim president, while the council seeks a permanent replacement.
Jim Hayes is serving as interim president of the Economic Development Partnership of Alabama as the group works to fill the position. Hayes was a former director of the Alabama Development Office.
Charlotte A. Hayes, president of DCTech, the Washington DC Technology Council, has resigned to return to the private sector. John Sanders has been named interim president, while the council seeks a permanent replacement.
Jim Hayes is serving as interim president of the Economic Development Partnership of Alabama as the group works to fill the position. Hayes was a former director of the Alabama Development Office.
William Parsons is serving as acting executive director of the Rhode Island Economic Development Corp. Parsons is the vice president of operations.
Correction: Lara Vande Walle is the director of membership and business development for the Maryland Technology Council, not Maryland's TEDCO as was previously reported.
Venture capital investments in Montana may have become a little more attractive last Friday as the Montana House of Representatives passed the Montana Equity Capital Investment Act, moving the legislation to Gov. Brian Schweitzer for his consideration and expected signature.
Tech firms in New Mexico received happy tax news on April 4 as Gov. BIll Richardson signed several bills to encourage economic growth across New Mexico.
New York's Empire Zones Program dodged a veto from Gov. George Pataki as an agreement was met with the legislature to restructure the program. The state budget, signed into law last week, extends the program and allows for an additional 12 zones to be created throughout the state.
Legislation that would extend and expand the federal research tax credit was introduced in the U.S. Senate last month. Senate Bill 627 seeks to make permanent the research credit that was first enacted in 1981 and is set to expire Dec. 31, 2005. The bill, sponsored by Orrin Hatch (R-Utah), also would provide an alternative simplified credit for qualified research expenses and increase the rates of the alternative incremental credit.
Do tax credits pave the way for more investment in R&D and equity investments in new enterprises? Or, do they reward companies and venture capitalists for investments they would have made anyway?
Discussions on these questions can become quite heated and fueled by data supportive of both sides, as two new academic analyses demonstrate.
Gross State Product (GSP) is considered, at least in theory, to be an effective measure of the "value added" by a state's economy. That is, the figure represents the sum of all net industrial activity within the state, where net activity is defined as total outputs (sales or receipts and other operating income, commodity taxes, and inventory change) minus total inputs (consumption of goods and services purchased from other industries or imported).
A draft report from the President's Council of Advisors on Science and Technology (PCAST) recommends the Department for Homeland Security include a centralized office for research and technology development and the senior-level position of undersecretary for science and technology, according to several published reports.
The St. Louis region lags behind a number of metropolitan areas including Austin, Portland, Atlanta, and Indianapolis in attracting 20- to 34-year olds to live and work in the region, according to a report released this month by the regional, nonprofit organization, FOCUS St. Louis.
University partnerships lead to diversity in teaching and research, highlight the importance of university research and lead to the development of special expertise, concludes a policy brief by the Conseil Superieur De L’Education in Quebec.
A review of recent grant announcements from across the country reveals the growing importance the Economic Development Administration (EDA) places on supporting technology-based economic development projects. EDA's emphasis on technology-led economic development is expected to be the focus of a keynote address delivered by Dr. David Sampson, Assistant Secretary of Commerce for Economic Development and EDA head, at SSTI's Sixth Annual Conference this October 2-3.
Governor Bill Owen has named Trip Carter as the state's first aerospace advocate, the state's latest effort to help the industry, which employs approximately 110,000 residents and has $4 billion in revenues. Only Florida, California and Texas have larger stakes in the aerospace industry. As a result, the state has undertaken several initiatives over the past two years to develop and promote the industry's health as it goes through a transition period.
With several of the right elements already in place but scattered across a wide area, the two planning districts comprising the 13-county region surrounding Roanoke, Virginia, combined efforts to develop a strategic economic development strategy that focuses heavily on science and technology-based initiatives.
Two separate news stories covering different New Jersey's technology-based economic development initiatives may give one of the first peeks at Governor James McGreevey's plans for science & technology in the Garden State.