In signing his state's fiscal year 2003-04 budget on August 2, California Governor Gray Davis shaved General Fund expenditures by $7 billion in an effort to address a $38.2 billion budget shortfall. Among those cuts was funding for the California Technology, Trade and Commerce Agency (TTCA), the state's principal catalyst for innovation, investment and economic opportunity.

TOP Reauthorized and To Grow, Says Senate Commerce Committee

Joint Venture: Silicon Valley has named Russell Hancock as its new president and CEO.

The U.S. Department of Labor (DOL) recently announced the 13 recipients for one of the most anticipated new federal workforce programs to be launched in several years. The $195 million Workforce Innovation in Regional Economic Development (WIRED) program attempts to integrate human capital issues of talent and skill development into larger technology-based economic development strategies.

Does it matter whether a start-up takes money from a large venture firm or a small venture firm? According to the just-released VentureOne Deal Terms Report, the answer is a resounding yes.

The University of California, San Diego's CONNECT program will begin a search for a new director since Fred Cutler's resignation at the end of September.

U.S. Commerce Secretary Don Evans has awarded a $6.44 million grant, the largest-ever economic development grant given by the Bush Administration, to Advancing California’s Emerging Technologies (ACET) to expand the Oakland Alameda Bio Tech Incubator to a 40,000-square-foot, state-of-the-art laboratory.

Manufacturing is a robust driver of California's economy according to a Manufacturing Matters: California's Performance and Prospects, a new report prepared by the Milken Institute. The analysis was prepared for the California Manufacturing and Technology Association.

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.

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.

Diane Wirth is new executive director of the Valley Economic Development Corp., a public-private organization for the San Jacinto Valley.

The Greater Antelope Valley Economic Alliance has appointed Tony Moon as its new president.

The University of Southern California (USC) will serve as the first Homeland Security Center of Excellence, the U.S. Department of Homeland Security (DHS) announced last week. DHS anticipates providing USC with $12 million over the course of the next three years for studying risk analysis related to the economic consequences of terrorist threats and events.

Despite many indications that show strong potential for growth, Southern California's bioscience industry still faces challenges, according to a new report from the Los Angeles Regional Technology Alliance (larta). Released July 19, Heart of Gold: The Bioscience Industry in Southern California highlights the strengths of the region's industry and honestly assesses the ways that the industry can overcome its weaknesses. The report was created to present a full 

Birmingham, Alabama

Cliff Numark is leaving his position as president and CEO of the San Diego Regional Technology Alliance to join a Los Angeles-based private consulting practice.