The St. Louis region lags behind a number of metropolitan areas including Austin, Portland, Atlanta, and Indianapolis in attracting 20- to 34-year olds to live and work in the region, according to a report released this month by the regional, nonprofit organization, FOCUS St. Louis.

A new biotech report funded by a private foundation finds Arizona possesses many of the essential elements needed to become a national leader in the biosciences. Now, all the state needs is at least 10 years and a $1.4 billion public-private investment, according to the report Platform for Progress: Arizona's Bioscience Roadmap.

Some of the 200-plus ballot measures decided in the 2002 General Election held Tuesday were dedicated to promoting tech-based economic development (TBED). The results were generally mixed, however. Promoters of Michigan's Life Sciences Corridor were pleased with the failure of an initiative that would have dictated the allocation of the state's tobacco settlement funds, including a smaller amount than the state is currently spending on life sciences research.

The economic downturn and continuing state and local fiscal problems are not stopping most efforts to develop tech-based economies. Here are a few examples of recent groundbreakings from around the country.

During the last eight weeks, communities across the U.S. have witnessed the rise or fall of small business incubators. Here are some of the developments:

All States

In a recently issued Executive Order, Missouri Governor Mel Carnahan officially named the life sciences industry as one of the state’s lead industries for promoting economic development. The order requires all executive branch departments to review their programs and evaluate each program’s impact on the life sciences industry for purposes of economic growth. The Department of Economic Development must prepare a report based upon these reviews that is due to the Governor by May 1, 2000.

Arizona

Albuquerque, New Mexico

Tenants of the Sante Fe Business Incubator have seen their one-story building increase from 10,000 sq. ft. to 30,000 sq. ft., according to a story by the Albuquerque Journal. The expansion is part of a $2.5 million project funded by the federal Economic Development Administration (EDA), the Regional Development Corporation and other agencies.

Generating $48.7 million in tax revenues to local and state governments and 5,949 direct jobs, the 31 tenants of the University of Arizona Science & Technology Park had an estimated direct impact in excess of $1 billion in FY 2000-01, according to a new report from the university's Office of Economic Development.

Garza Fernandez, president of the Southern Arizona Industry and Aerospace Alliance, announced her resignation to devote more time to the Technology Development and Research Institute.

The Greater Flagstaff Economic Council has announced Lewis Humphreys is its new vice president. Humphreys was with the Greater Tucson Economic Council.

Of Arizona's 664,454 businesses, 98 percent qualify as small businesses with fewer than 100 employees, according to a study released by the Arizona Department of Commerce and the Arizona State University's Center for the Advancement of Small Business. The study was conducted by the Masters Consulting Group (MCG), an MBA student organization at ASU's College of Business.

Arizona

Effective in May, Ken Janoski will be the president and CEO of BioGenerator, a nonprofit in St. Louis that helps scientists commercialize their discoveries.

Investment capital to develop and commercialize new technologies may soon be easier to find in Missouri. The Commerce Committee of the Missouri House of Representatives last week endorsed House Bill 753, a proposal to create a $40 million seed capital fund supported by Governor Mel Carnahan. The fund would be capitalized at $10 million each year for four years. Additionally, private investors would get a 100-percent tax credit for all money they contributed to the new seed capital fund.

Dennis Cheek is vice president of education with the Kauffman Foundation.

William Harris is the new president and CEO of Science Foundation Arizona, a recently formed nonprofit organization.

This year’s second attempt to pass legislation establishing a state-funded seed capital program in Missouri was successful during the waning hours of the 1999 session of the Missouri General Assembly. SB 518, the Missouri New Enterprise Creation Act, authorizes the creation of up to four seed capital funds at the state’s innovation centers to support new technology-based companies in the state.

Cincinnati and St. Louis are partnering to hold a three-day symposium to examine best practices in biotechnology-based economic development. Growing the Life Science Industry will be held March 1-3 at the Kingsgate Conference Center on the University of Cincinnati Medical Campus. Speakers from a dozen states will share their regions' approaches for life science economic development.

Arizona Governor Jane Dee Hull has announced the formation of the Arizona Partnership for the New Economy, a 35-member steering committee appointed to purse the following goals:

Jack Haenichen has been promoted to Deputy Director for the Arizona Department of Commerce.