Applicants for the Economic Development Administration’s (EDA) FY 2016 Public Works and Economic Adjustment Assistance Programs Federal Funding Opportunity (FFO) will notice some changes to the application process when the FFO is released in the coming weeks. The standard ED-900 form has been replaced with a selection of shorter forms that can be mixed and matched to fit the needs of different solicitations. Also, a short proposal form can be submitted to ascertain whether a project is responsive to the FFO, instead of having to complete a full application.

Around the world, increased attention is being paid to inclusive economic growth, which, according to the World Bank, suggests that for growth to be sustainable in the long run it should be broad-based across sectors and inclusive of the large part of the country’s labor force, regardless of demographics.

Six states received A's for the health of their manufacturing sector in a new study from Ball State University (BSU) – Conexus Indiana 2015 Manufacturing and Logistics National Report.

German leaders are debating the future of a program intended to help its elite universities compete in research with the likes of Harvard, Oxford and Cambridge. The 11-year, €4.6 billion (USD$5B) Excellence Initiative was launched in 2006, and has provided funding to support clusters of excellence, international graduate schools and strategies to strengthen the institutions as a whole. Since the program began, Germany’s universities have greatly increased their research publication output and their number of highly-cited articles.

Pittsburgh Mayor William Peduto announced the launch of the Pittsburgh Roadmap for Inclusive Innovation, a strategic plan that is intended to support economic growth and the equitable access to technology, city resources, and information. The roadmap includes three primary goals that include:

The STEM Funders Network (SFN) announced that 27 communities will pilot the national science, technology, engineering and math (STEM) Ecosystems Initiative. Launched at the Clinton Global Initiative, the program is intended to nurture and scale effective preK-16 instruction best practices in STEM learning.

Since the establishment of the Tennessee Promise in 2014, the first statewide free community college effort, community college systems and states are outlining their own strategies to make a two-year education free for students in their region in attempt to create an educated, qualified workforce that addresses the needs of industry and promotes economic prosperity. While it may remain too early to judge the benefits and the costs of these programs – lawmakers and educational professionals remain divided on the issue. 

Five North Carolina communities have been selected to participate in InnovateNC, a two-year economic development initiative centered on sharing knowledge, tools and resources between partner regions. Asheville, Greensboro, Pembroke, Wilmington and the city and county of Wilson were chosen from the 18 applicant regions. The initiative is spearheaded by NC State University’s Institute for Emerging Issues with nine partners and supported by a grant from the Kenan Creative Collaboratory.

The Department of Energy (DOE) announced it will commit up to $70 million in funding for the Manufacturing Innovation Institute for Smart Manufacturing to support R&D efforts to develop, demonstrate, and transition to industry advanced sensing, instrumentation, monitoring, control, and process optimization as well as modeling and simulation technologies for industrial automation. The Innovation Institute on Smart Manufacturing will be the third DOE-funded facility as part of President Obama’s National Network for Manufacturing Innovation (NNMI) institutes.

New Mexico Gov. Susana Martinez has released the state’s first comprehensive energy plan since 1991. Her administration characterizes the plan as an “all of the above” approach with an emphasis on improving infrastructure, creating new incentives and streamlining regulations. Though the plan does not feature support for energy technology R&D, it prioritizes reducing fresh water consumption and improving workforce training for energy jobs.

Last week, the Treasury Department released guidance recognizing foundations may make investments with a wider range of return and risk expectations so long as they are not jeopardizing or compromising their charitable missions.  Proponents for the change expect the guidance to open the doors to more mission-related investments (MRIs), impact investing and innovative finance approaches to dealing with the growing array of societal and environmental issues confronting the globe.

While most state legislative sessions ended over the summer, a number of states only recently approved spending for FY16. Governors in Alabama, North Carolina and New Hampshire have approved budgets in the past few weeks, each after months of tense negotiations. SSTI reviews budgets in each of these states for spending related to technology-based economic development. For past articles in this series, visit ssti.org/tags/state-budget.

While speaking in Detroit last week, Vice President Joe Biden announced the creation of an Institute for Advanced Composites Manufacturing Innovation (IAMCI)  location in Detroit, aimed at creating better composite materials for wind turbines, compressed gas storage, and in particular, the automotive industry. Funded by the U.S.

Economic conditions across the country continue to improve, according to the Bureau of Economic Analysis’ (BEA) latest release of gross state product (GSP) data. GSP is derived as the sum of the gross domestic product originating in all the industries in a state. The period between 2008 and 2009, where the U.S. GDP decreased by 2 percent, marked a transition for many states, where their gross state product either decreased from the year before or where their growth rate was subdued.

Seed stage valuations have risen steadily over the last five years to an all-time high of 3.95 million (Median), a 30% increase over 2014, according to the recently released 2015 Q2 ARI HALO Report from the Angel Resource Institute at Willamette University (ARI). The authors found that all U.S.

The Department of Energy (DOE) announced that it is accepting applications for the first round of its Small Business Vouchers Pilot (SBV) program. Under the SBV program, the DOE will commit up to $20 million in technical and research assistance awards to help small businesses bring next-generation clean energy technologies. Companies may apply for and receive up to $300,000 in assistance from U.S. Department of Energy national laboratories nationwide.

Angel group valuations and deals continued to rise through the third quarter of 2015, according to the most recent HALO Report, a publication of the Angel Resource Institute at Willamette University in Oregon. While median angel-only round sizes were $500,000 in both the first and second quarters of 2015, the third quarter saw this amount increase 45 percent to $725,000.

Around the world, entrepreneurship education continues to permeate schools, nonprofits, economic development organizations, and college campuses. At the root of this momentum is a belief that entrepreneurship can be taught to anybody, regardless of their innate skills. This Recent Research article presents new conclusions that suggest individuals can learn entrepreneurship by being exposed to other entrepreneurs. In other words, both nature and nurture contribute to the likelihood one becomes an entrepreneur.

The Indianapolis-based Lilly Endowment announced three grants totaling $42 million to boost regional development efforts in 11 counties located in Southwest-Central Indiana with a focus on research and development, workforce and education, and efforts to enhance quality of life.

In late 2015, the U.S. Securities and Exchange Commission (SEC) released two rule changes that may shape the future of equity investments in startups and small businesses. The two new rules directly address issues related to the accreditation of investors – an important element of the angel investment ecosystem that has long driven early stage investments in startups. In December, the SEC released a report on proposed changes to the definition of accredited investors.

As top tech-hubs like California’s Bay Area become increasingly unaffordable, a new Jones Lang LaSalle report finds evidence that secondary markets will continue to experience accelerated industry growth.

In the days leading up to his final State of the Union Address, President Obama hinted that in lieu of the usual wishlist of policy proposals he would lay out his take on the issues that will define American public life over the next few decades. These issues took the form of four big questions, the first two of which directly relate to the work of tech-based economic development professionals.

Even though the total amount invested by venture capitalists (VCs) grew for the fourth straight year to nearly $77.3 invested, Pitchbook analysts contend that 2014/2015 was the peak of the VC industry for the foreseeable future. While high valuations drove up the total amount invested, the number of deals plummeted during the second half of 2015 according to new data from Pitchbook.  In addition to insights from Pitchbook, other analysts contend that the declining trends of 2015 should remain through 2016.

Throughout the Great Recession, numerous stories from sources like The Wall Street Journal pointed to the idea of the overeducated and underemployed recent college graduate as a symbol of the economic times. While some recent graduates were able to find work in their respective fields, many did indeed struggle.

With the start of the new year, many governors around the country have begun laying out priorities for the next legislative session. In the coming weeks, SSTI will review gubernatorial addresses and budget proposals related to economic development. This week, we highlight developments in Idaho, Iowa and New York.