Washington Gov. Proposes $350M Life Science Fund
Gov. Christine Gregoire announced the first stages of her economic development program last Wednesday, highlighted by a proposal to inject $35 million annually starting in 2008 for the next 10 years into life sciences research at the state's universities. Gov. Gregoire also requested legislation be introduced this week that would facilitate the transfer of technology from research institutions to the private sector.
Silicon Valley Index Paints Complex Picture for Region's Economy
As a percentage, Silicon Valley has lost more jobs over the past four years than any U.S. metropolitan area since 1939, but evidence shows the region is stabilizing with a return to levels reminiscent of the late 1990s. Funding for venture capital is up, per capita income is increasing, and research and development funding has reached new highs. Yet, the region's most striking feature of late is, perhaps, the way it is growing, according to the 2005 Index of Silicon Valley.
People
Gov. Arnold Schwarzenegger has selected Brian McGowan to replace Yoland Benson as deputy secretary for economic development in California's Business, Transportation and Housing Agency. McGowan, San Bernardino County's economic development administrator, will start his new position in January. Gov. Schwarzenegger also has appointed Teresa Takai as the state's first Cabinet-level chief information officer.
Not All Is Rosy for Middle Class, Silicon Valley Index Shows
According to the latest index from JointVenture Silicon Valley, 2007 looks like a pretty good year compared to 2006 when you look at many standard measures of economic performance. There were 28,000 new jobs created, a 1.5 percent increase in population, and 21 percent growth in solar and wind energy installations. Water use also dropped 6 percent, venture capital investments were up 11 percent, median household income rose, and city revenues were up 37 percent.
People & TBED Organizations
Egils Milbergs was appointed director of Washington's newly formed Economic Development Commission.
Three VC Firms Picked to Extract Green Tech from Federal Labs
Last week, three venture capital firms were chosen by the Department of Energy (DOE) to participate in its new Entrepreneurship in Residence (EIR) program, a pilot initiative designed to get advanced energy technologies out of the federal labs and into the marketplace. In the program’s design, an entrepreneur affiliated with each venture capital firm will work with the selected DOE laboratory staff in order to identify and evaluate marketable technologies.
Cities Pursue Innovative Strategies to Grow Clean Technology Businesses
As renewable energy and environmental technologies emerge as some of the promising industries for high-tech economic development, more cities are seeking new ways to boost clean technology research and businesses. Austin, San Jose, Berkeley, Pasadena and Boston have been singled out for their efforts to promote cleantech industries by SustainLane Government, a nonprofit Internet-based organization that provides current practices and news about municipal sustainability.
People
Oleg Kaganovich will resign as CEO of the Sacramento Area Regional Technology Alliance (SARTA) in June 2007, but remain a member of SARTA's board of directors.
People
Anna Ehnmark was appointed executive director of the Technology Alliance Group for Northwest Washington.
People & TBED Organizations
Publisher's Note: SSTI notes with much sadness the March 5 passing of Indiana State Sen. David Ford, following a battle with pancreatic cancer. David was a good friend not only of SSTI's, but also of the tech-based economic development community across the nation. In addition to being a tireless and cheerful advocate for investing in science and technology, he was also a gentleman in the true sense of the word, and we miss him greatly.
Looking at State Equity Intensity Changes Leader Board
SSTI’s VC Dashboard Value Enlarged with Addition of Per Capita Data
Recent Research: Measuring the Effectiveness of State R&D Tax Credits
Two weeks ago, Idaho Gov. C.L. “Butch” Otter vetoed legislation to repeal state R&D income tax credits for Idaho companies. Among his reasons for the veto, Gov. Otter claimed removing the credits would put Idaho at a competitive disadvantage because surrounding states over similar incentives. Was he right?
People & TBED Organizations
Lori Broyles was appointed coordinator of the Women's Business Center in Oklahoma City.
Two Reports Highlight Opportunities for State Broadband Policies
Although the U.S. broadband infrastructure has expanded rapidly over the past decade, 45 percent of rural areas still lack access to high-speed Internet services. A recent issue brief from the National Governors Association (NGA) Center for Best Practices provides a number of strategies that have proven effective in expanding broadband access, particularly in underserved rural areas.
People & TBED Organizations
The U.S. Department of Commerce's Economic Development Administration (EDA) recently announced Ben Franklin Technology Partners (BFTP) as the winner of the "Excellence in Technology-led Economic Development" award, as part of EDA's Excellence in Economic Development Awards 2008. BFTP, created in 1983, has regional offices in Lehigh Valley, Philadelphia, Pittsburgh and State College.
Tech Talkin’ Govs, Part I
SSTI’s eighth annual Tech Talkin’ Govs series highlights new and expanded TBED proposals from governors’ state-of-the-state, budget and inaugural addresses. With mounting budget deficits spanning the nation, this year’s anticipated overarching theme is proposals aimed at mending states’ finances with less focus on the introduction of new initiatives. The first installment of the series includes excerpts from California and New York.
California
Mixed Results for TBED in State Budget Proposals
Coinciding with a plethora of state-of-the-state addresses delivered over the past week, several governors have released budget recommendations for the upcoming fiscal year. The following states’ budgets include crucial TBED investments and reductions in programs.
California
Local Capital Programs Help Address Regional Gaps
Although the national venture capital investment continues to expand, many parts of the country still lack access to reliable sources of business capital. Even in states that rank in the top tier for venture investment, there are often insufficient capital resources to support businesses at every stage of development.
People
J.D. Stack replaces Oleg Kaganovich as the new CEO of the Sacramento Area Regional Technology Alliance.
TBED People
William Archey, CEO of AeA, announced he will retire in 2008.
TBED People
John Gardner will be vice president for economic development and extension at Washington State University, effective July 1. Gardner has been the vice president for research and economic development at the University of Missouri system.
People
Victor Hwang, the immediate past president of Larta Institute, has co-founded T2 Venture Capital.
People & TBED Organizations
Graham Evans has joined Washington Technology Center as director of research and program operations.
Five Zones Share $4.3M to Promote and Develop Regional Economies in Washington
Washington State is attempting to replicate the success of North Carolina’s Research Triangle in promoting regionalism and industry clusters through a new Innovation Partnership Zones initiative.
People & TBED Organizations
Christopher Hansen will succeed William Archey as AeA's next president and CEO. Hansen will start on Nov. 15, overlapping with Archey until February 2008 to ensure a smooth transition.