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Over the past few decades, state and local policymakers have approached the task of increasing regional innovative activity from a number of directions. Leaders have deployed plans to increase the amount of available capital, to train entrepreneurs, to attract research-based companies and other strategies to create a thriving innovation economy. A key issue in this pursuit is how to keep the beneficial results of these efforts local.

Last week the Bureau of Economic Analysis released advance 2008 and revised 2005-2007 statistics concerning GDP by state. Using these updated statistics, SSTI has prepared a table showing the real GDP for each state from 2004 to 2008 (in chained 2000 dollars), the percent change from 2007 to 2008, the five-year percent change, and the rank of each state's five-year change.

New evidence suggests that venture capitalists increasingly view international investment as the future of the industry. The 2009 Global Venture Capital Survey, conducted by the National Venture Capital Association (NVCA) and Deloitte, finds that 52 percent of venture capitalists around the world are currently investing outside their home country. Most investors also believe that their involvement with international partners will increase in the near future.

On June 18, the Senate Committee on Small Business and Entrepreneurship will markup S. 1233, a bill to reauthorize and expand the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Both programs are within weeks of expiring on July 30.

A new Pew Charitable Trusts report finds far-reaching national benefits to the growth of the clean energy sector. Between 1998 and 2007, clean energy jobs grew by 9.1 percent, while total jobs grew by only 3.7 percent according to data collected by Pew. While the industry is still in infancy, its growth rate over the past decade has outpaced other emerging technology sectors that have been the focus of TBED efforts, including biotechnology.

Gov. Deval Patrick announced last week a venture funds competition providing seed money and mentoring to support new business development, adding to a growing number of states seeking to boost entrepreneurial efforts during the economic downturn (see the March 5, 2009 issue of the Digest).

Gov. Bob Riley signed a bill last month extending tax credits and incentives to knowledge-based industries and green employers to encourage growth and expansion in these fields throughout the state.

On Monday, legislation was introduced in a special session of the Kentucky Legislature to amend several of Kentucky's economic development incentive programs.

Competing priorities, lack of funding, and inflexible negotiation strategies are among the challenges the Government Accountability Office found for the Department of Energy's efforts to transfer technology out of the DOE labs.

With the release of advance 2008 and revised GDP statistics by the Bureau of Economic Analysis (BEA), SSTI has prepared a table showing real GDP per capita (in chained 2000 dollars) for every state and the District of Columbia for the five-year period from 2004 to 2008. The table also includes:

The complete description of this opportunity and others are available at http://www.ssti.org/posting.htm.

After near unanimous passing in both chambers of the state legislature, the "Tennessee Small Business Investment Company Credit Act" was sent this week to Gov. Phil Bredesen for his signature. The legislation, designed to create a pool of at least $84 million in capital, utilizes a competitive process to select several venture capital funds to make direct investments in small business headquartered in Tennessee.

Gov. John Baldacci signed two major bills this session supporting renewable energy R&D and creating a path for building private sector jobs in clean energy businesses. Lawmakers also passed a $150 million bond package, which includes funding for ocean and wind energy demonstration projects and support for Maine technology entrepreneurs. Voters will have the final say on the bond package in three separate ballot measures presented over the next two years.

Using $62.5 million earmarked from the state energy program federal grant provided under the American Recovery and Reinvestment Act of 2009, Tennessee will create a solar institute, a solar farm five-megawatt power generation demonstration project, and implement additional renewable energy activities as part of the Volunteer State Solar Initiative approved last month by lawmakers.

Mark your calendar for Oct. 21-23 to attend SSTI's 13th annual conference Seize The Moment in Overland Park, Kansas! Past attendees know SSTI's conference is the premiere professional development event for the TBED community. And 2009 will be no exception.

Massachusetts Governor Deval Patrick recently announced plans to develop a $100 million high-performance computing center powered by clean and renewable energy in the small city of Holyoke. The center will be managed by a consortium of state agencies, universities and technology companies including the Massachusetts Institute of Technology, the University of Massachusetts, Cisco Systems and EMC Corp..

Minorities receive fewer approvals and lower cash awards through the Department of Treasury's New Markets Tax Credit (NMTC), according to a recent Government Accountability Office (GAO) report.

The methods of measuring the "innovativeness" of a region take many forms, including metrics which gauge the concentration of those inventing new ideas though patents. From data made available through the Office of the University Economist at Arizona State University, one can track over time the number of patent inventors per capita by metro area.

The Piedmont Triad Research Park laid off Bill Dean, director of the park, and Nancy Johnson, marketing director. Park officials said that the park's project manager and executive assistant also were laid off.

The National Telecommunications and Information Administration (NTIA) has released new information about its stimulus-funded grant program for state-based broadband mapping and planning initiatives. The State Broadband Data and Development Grant Program will provide approximately $240 million in grants to assist states or their designees to develop state-specific data on broadband deployment and adoption. The competitive, merit-based awards will require funding matches with applications due by August 14.

Gov. Jim Doyle signed the 2009-11 biennial budget last month, providing funding for university-based research and enhancing tax credits for angel and venture investors supporting high-tech R&D.

While maintaining a $1 billion reserve over the next biennium, the 2009-11 budget signed into law by Gov. Mitch Daniels reduces by half funding for the state's 21st Century Research and Technology Fund and appropriates only a fraction of the requested $70 million for the Indiana Innovation Alliance, an initiative to grow the state's life science industries.

As one of several states working to recruit and retain companies that create green jobs, Minnesota lawmakers passed a measure to create a multiagency authority to promote, market and coordinate state agency collaboration on green enterprise and green economy projects. At the same time, legislators rejected Gov.

The National Institutes of Health (NIH) last week published the final version of its guidelines regarding human stem cell research, in part determining which human embryonic stem cells (hESCs) are eligible for research with NIH funding. The final guidelines contain adjustments from the draft version of the guidelines released on April 23 for public comment, from which the NIH received approximately 49,000 statements from advocacy groups, scientists, medical organizations, religious groups, members of Congress, and private citizens.