The United States Department of the Treasury’s (Treasury) new 2022-2023 State Small Business Credit Initiative (SSBCI) 2.0 Annual Report highlights the nearly $10 billion program to enhance access to capital for small businesses, particularly those in underserved communities.
SSTI will continue the conversation about the SSBCI program at the Annual Conference. SSBCI director, Jeff Stout, will provide an update on the program in The latest on Treasury’s $10 billion investment in small businesses. The session will provide insights into Treasury's current thinking and to better understand how SSBCI might be better leveraged as a regional resource. SSBCI outreach team member Karl Fooks will moderate the session, How regions are adapting to trends in equity investment.
We’ve negotiated an extraordinary room rate for this year’s conference: $209 plus nominal taxes and fees at the conference venue, the Sheraton Grand at Wild Horse Pass in the Gila River Indian Community within the Phoenix, Arizona Metro Region. But our negotiated rate expires once the room block fills or after Monday, November 18.
Additionally, our registration closes on December 3, so why not check both these items off your to do list and do them now?
Forty-one states and Puerto Rico voted on 151 statewide ballot measures this fall. Many measures focused on abortion, citizenship, or electoral system reforms. Three measures with direct connection to innovation all were approved by voters, augmenting the strong track record tech-based economic development initiatives have when they are placed directly before voters.
About three-quarters of Americans (76%) say they have either a great deal (26%) or a fair amount (51%) of confidence in scientists to act in the best interests of the public, according to a new Pew Research Center report.
The TBED community, similarly to research scientists, faces communication challenges with elected officials, regional stakeholders, and even their friends and family. SSTI has conducted three surveys over the last nine years to uncover problematic jargon, illuminate alternative approaches, and inform our members’ communication strategies. At the SSTI Annual Conference, we'll present the latest results from a focus group and survey that will help the community communicate better with non-TBED audiences.
The Wisconsin Center of Manufacturing & Productivity (WCMP) recently released its fourth annual Wisconsin Manufacturing Report, a comprehensive overview of the state's manufacturing sector.
The Innovative Solutions Canada (ISC) program is often compared to the U.S. Small Business Innovative Research (SBIR) program. And, like the SBIR program, ISC has faced criticism from skeptics despite metrics that show the program delivers high returns on investment. When Canada’s Budget 2023 Initiative recommended reallocating 14.1 billion Canadian dollars (CAD) in federal spending, each Ministry was tasked to identify programs that did not address the government’s top priorities.
NATCAST, the operator of the National Semiconductor Technology Center (NSTC) tasked with bolstering the United States' semiconductor industry, announced Albany NY and Sunnyvale CA as the locations for two major R&D facilities. The funding comes from the CHIPS and Science Act of 2022, legislation aimed at revitalizing American semiconductor manufacturing and research.
While most of the country’s attention has been on the contests for control of the White House and Congress, eleven states and two territories, including Puerto Rico, held gubernatorial elections on Nov. 5.
Since the pandemic, those working on local prosperity through the nexus of science, technology, innovation, and entrepreneurship—the four cornerstones of SSTI’s mission—have seen the largest investment yet by the federal government to catalyze and support their work. It awakened teams of organizations across the country in virtually every city, institution of higher education or region to start or improve innovation-centered economic development strategies.
As SSTI reported earlier this fall in its series of articles on higher education, college tuition and student loan debt are rising.
When Tennessee reported on its first cohort of students after implementing Tennessee Promise, the nation’s first statewide free community college effort, SSTI reported on the program’s impressive early results. The graduation rate had increased over the previous year’s non-Promise cohort, and overall, 3,257 students in the 2015 cohort earned a degree or certificate within five semesters, an 82% increase over the pre-Promise 2014 group.
The European Union is engaged in a debate about changing its systems for R&D funding, the first potentially significant changes since its current framework program began in 1984. A group of 15 individuals from research and industry selected by the European Commission last year has submitted a report, Align, act, accelerate, which gives recommendations for overhauling the system.
The U.S. National Science Foundation Regional Innovation Engines (NSF Engines) program announced that 71 teams are advancing to the next stage of the second NSF Engines competition.
Whether one calls them transformational or disruptive, challenging or exciting, topics like generative AI, Big Tech, climate change, and geopolitical/economic issues will have significant influences on the future focus and efforts of every organization employing readers of this newsletter. There hasn’t been a forum for the field to talk about all of it openly and honestly—until December, that is.
The Appalachian Regional Commission (ARC) awarded $33.5 million to 12 collaborative, multi-state projects designed to drive large-scale economic transformation.
A new White House national security memo (NSM) builds on last year’s Executive Order on AI and cal
Manufacturing industries accounted for approximately $372 billion, or 54%, of all domestic business enterprise R&D (BERD) expenditures in 2022, up 36% from $274 billion in 2018. Despite this increase of nearly $100 billion over the past five years, the share of BERD expenditures in manufacturing industries has decreased eight percentage points from its 2018 value of 62%.
Congress authorized $10 billion over five years for regional tech hubs to improve America’s competitiveness and regional economies. To date, Congress has appropriated only $541 million for the program—just 5% of the authorized level—of which a $459 million downpayment was provided though the FY 2023 disaster supplemental.
Forty-one states and Puerto Rico will vote on 151 statewide ballot measures this fall.
Forty-one states and Puerto Rico will vote on 151 statewide ballot measures this fall.
Many of this year’s measures focus on abortion; citizenship or electoral system reforms (such as Arizona’s Proposition (Prop) 133 and Missouri’s Amendment 7, which would prohibit ranked-choice voting, while Idaho’s Prop 1, Nevada’s Question 3, and Oregon’s Measure 117 would establish ranked-choice voting); criminal justice or drug use policies (including the legalization of recreational (Florida, North Dakota, and South Dakota) or medical (Nebraska) marijuana, as well as certain psychedelic substances (Massachusetts could be the third state to legalize psilocybin); and minimum wage increases. Voters in Alaska, California, Massachusetts, and Missouri will decide on minimum wage increases, with Nebraska voters deciding on an initiative requiring paid sick leave for employees. In Arizona, voters will decide whether tipped workers should be paid 25% less per hour than minimum wage.
A dozen initiatives would impact tech-based economic development—providing funding for initiatives, changing the electoral or redistricting system, altering taxes, or modifying the governance of higher education.
Growing your local or state economy through innovation and technology-based economic development most often feels like a full-sprint ultramarathon. It doesn't help that so many external influences on how you do your job seem to change the rules and landscape thrown at you all the time. Take Nov 5, for example. You need a break! But you also need time to pause, think, and strategize with your teammates for the coming year. There is a way to achieve both simultaneously, and I love it! More...
Last week, as the SSTI Board considered the year that is ahead, the Board asked Dan Berglund to reconsider his decision from earlier in the year to step down. While the election results are uncertain, one certainty now is there will be a change in presidential administration. The Board felt it was important for the field for Berglund to guide the organization through one more presidential transition-- this will now be his fifth.
The Treasury Department has recently approved an additional $106 million in SSBCI dollars for tribal governments: $102 million as part of the Capital Program and $4 million as part of the Technical Assistance (TA) Grant Program.
Congress authorized $10 billion over five years for regional tech hubs to improve America’s competitiveness and regional economies. To date, Congress has appropriated only $541 million for the program—just 5% of the authorized level—of which a $459 million downpayment was provided though the FY 2023 disaster supplemental.