The Senate Committee on Appropriations this morning advanced a funding bill that includes $25 million for Regional Innovation Strategies — $4 million more than the current funding round.

Although SBIR/STTR matching programs have existed at the state and regional levels for years, Montgomery County, Maryland, recently launched the country’s first county-based match program. The county council overwhelmingly approved the program, which will target Montgomery County-based small businesses receiving Phase I or Phase II SBIR/STTR grants through the National Institutes of Health (NIH), whose main offices are also within the county.

Over the past few weeks, Delaware, New Jersey, and Tennessee have proposed, announced or expanded investment tax credit programs to spur job creation and innovation. In Delaware, Gov.

A new report from the Department of Energy (DOE) highlights examples of major scientific accomplishments emerging from 40 years of Basic Energy Sciences (BES) research support, including how these discoveries have helped fulfill DOE’s mission and have led to new technologies and industries that contribute to American innovation and prosperity.

The conclusion from the working paper, The Effects of Scientists and Engineers on Productivity and Earnings at the Establishment Where They Work, by Erling Barth, James C. Davis, Richard B. Freeman, and Andrew J. Wang, is pretty clear for manufacturers and policy advocates for improving U.S.

Economic development was the most prevalent policy issue across mayoral speeches in 2018, according to State of the Cities 2018 from the National League of Cities (NLC).

Part 1 of this series on SAFEs (simple agreements for future equity) focused on the investment vehicle and its pros and cons, and can be found here.

A new report from the U.S. Census Bureau shows that while postsecondary education enrollment has increased overall between 1955 and 2015, it has increased and decreased during this long-term period of increase, reflecting changes in the economy. In particular, the Great Recession of 2007 to 2009 influenced significant changes in American postsecondary education enrollment, according to the report.  The number of students enrolled in college in the U.S.

American Made Solar Challenge is seeking teams of creative individuals and entrepreneurs to compete for prize money and strategic support in accelerating ideas and solutions. In a three-part series of contests, $3 million will be awarded in cash prizes and up to $525,000 in vouchers, which can be used at national laboratories and other voucher facilities to develop, test and validate ideas in the energy marketplace.

A Securities Exchange Commission (SEC) report contains over 20 recommendations for the SEC to consider that would improve small business capital formation. The report, released in April, stems from the 36th annual Government-Business Forum on Small Business Capital Formation – a daylong event held late last year.

A change in policy at the Mayo Clinic has “single-handedly sprouted a startup ecosystem in Rochester, as med-tech startups, accelerators, co-working spaces and a venture capital ecosystem have flourished in the area over the last half decade” according to new research by Maddy Kennedy of the The Minneapolis/St. Paul Business Journal.

Declining enrollments, higher costs and limited state funding continue to challenge higher education institutions, and possible mergers continue to surface as an option to meeting those challenges. In Pennsylvania, a new study sponsored by the Pennsylvania Legislative Budget and Finance Committee identifies options to help ensure the sustainability of the State System of Higher Education, and mergers factor into those considerations.

Earlier this month, the Bureau of Economic Analysis (BEA) published its 2017 estimates on state-level real gross domestic product (GDP). Per-capita gross product is a useful metric because it can show a state’s relative performance against its peers and over time. SSTI has prepared a spreadsheet showing 10 years of real per capita gross product by state, as well as an interactive map showing changes over the 1-year, 5-year, and 10-year periods. As more data becomes available, a future Digest issue will cover this topic at the metropolitan level. 

Both the House and Senate are beginning the appropriations process for FY 2019 this month, and early indicators suggest that EDA’s Regional Innovation Strategies program could see an increase over its $21 million for FY 2018.

While the increasing gaps between the coasts and the heartland continues to capture the media’s attention, a collection of recent research suggests that inequality within regions may be the greatest factor hampering economic growth. Five recent articles tell a nuanced story of how economic and racial inequities may impede regional economic development efforts. The research presented here from a variety of outlets examines the role of inequality in the overall economy of regions.

The White House Office of Management and Budget released Delivering Government Solutions in the 21st Century, a plan for reorganizing federal agencies. On topics related to innovation, the wide-ranging plan would make changes to education, workforce, economic development, small business and more. Some of the suggestions could advance with administrative actions only, while many will require congressional support.

As economic development efforts try to keep up with changing demographics, many states, regions, metros, and other local governments face difficulties trying to cultivate, attract and retain a 21^st century workforce. Three recent reports look at the strategic steps that states and regions must play to create strong workforce development organizations.

While many state startup capital ecosystems have a healthy density of early-stage startups, few states have developed strong late-stage ecosystems, according to a new report from PitchBook – 2Q 2018 PitchBook Analyst Note: VC Ecosystems. PitchBook researchers contend that one potential factor leading to these underdeveloped late-stage ecosystems is the limited number/size of exits coming from those ecosystems.

Real personal income — a measure of purchasing power that connects income to costs — has grown within states at an average rate of 1.5 percent per person since 2012, according to data from the Bureau of Economic Analysis. The average American’s experienced income growth, however, appears to vary wildly depending on location.

In an effort to move technologies into the commercial sector more quickly, Air Force Research Laboratory (AFRL) has introduced a one-stop shopping experience called Express Licensing. Interested innovators and entrepreneurs can visit a website featuring AFRL-developed technologies that are available for license and learn about pre-negotiated terms and pricing, eliminating the need for lengthy contract negotiations.

As part of the country’s single biggest investment in science in 40 years, the UK unveiled a new investment in UK talent and skills aimed at growing and attracting the best in science and innovation. Last week, UK business secretary Greg Clark outlined a £1.3 billion ($1.72 billion) investment for British universities and businesses to develop the next generation of entrepreneurs, innovators and scientific leaders.

One of this year’s most important books on economic development tells a story that those involved in the field need to know and might not necessarily want to hear. In Coping with Adversity: Regional Economic Resilience and Public Policy, authors Harold Wolman, Howard Wial, Travis St. Clair, and Ned Hill seek to understand why some metropolitan areas are resilient in the face of economic hardship, while others are not. This commentary will summarize the authors’ findings and provide insight into what their findings might mean for the broader economic development community.

One of our partner organizations, the National Association for Community College Entrepreneurship (NACCE), recently opened their registration for their annual conference, NACCE 2018 The Entrepreneurial Ecosystem Revolution. The conference features keynotes from engaging entrepreneurs that have innovated in areas ranging from 1980’s rock and roll memorabilia to one of the co-developers of Amazon’s Alexa. Panels and breakout sessions featuring NACCE members from across the U.S.

The majority (75 percent) of all high school students were enrolled in a STEM course during the 2015-16 school year, according to the newest Civil Rights Data Collection (CRDC). For the first time, the CRDC includes new categories of data on STEM course taking, showing that some higher level math and science courses are offered at fewer high schools.

In 2017, 122 companies filed Regulation A+ (Reg A+) offerings and raised over $236.5 million collectively, building upon the early promise shown when the rules went into effect two years ago. Reg A+ is a less complicated and shorter process for a company going public than the traditional initial public offering (IPO) process.