Looming Revenue Shortfalls Latest Challenge for Many States
Amid the economic uncertainty surrounding fiscal cliff negotiations, and what it means for states, some governors are erring on the side of caution when it comes to funding recommendations for the upcoming year. At the same time, several state budget officers are projecting significant revenue shortfalls in the current fiscal year or biennium as a result of lower than expected tax collections.
Seven States Selected to Identify, Implement Strategies for Enhancing Manufacturing
A newly established policy academy providing guidance and technical assistance will help seven states improve their environment for innovation and align state R&D investments, workforce development and education systems with current and future needs of advanced manufacturing industries. The policy academy will help each state develop a plan or overcome barriers for putting a plan into action through a highly interactive team-based process that includes input from NGA, MEP, EDA, SSTI, private sector consultants, and research organizations.
Research Park RoundUp
As budgets for economic development tighten across all sectors, measuring and reporting impact becomes even more crucial for sustaining support. The Association of University Research Parks points to three impressive impact reports released this year from Indiana's Purdue Research Park, Nebraska Technology Park and North Dakota State University Research and Technology Park.
Support for Entrepreneurs, Manufacturers Included in Connecticut Jobs Package
Building on several of the new programs enacted during the regular legislative session (see the June 15, 2011 issue of the Digest), Gov. Dan Malloy last week signed into law HB 6801, a comprehensive legislative package that authorizes $626 million in bonds to support efforts aimed at job creation. The bill has several components to support high-tech entrepreneurship, workforce development, and incentivize manufacturers and small businesses.
NY Leaders Award $200M for Regional Job Creation Strategies
On Thursday, New York Governor Andrew Cuomo's administration announced the winners of a six-month competition to secure funding for regional job creation projects. Over the summer, ten regional economic councils were created by executive order to develop plans that would improve local economies using grants, tax breaks and other state resources. The councils then pitched their plan to state government leaders (presentations and applications are available online).
Incubator RoundUp
Finding new and creative ways for high-tech companies to succeed is an important component in business incubation. A recent study examining best practices for supporting new company formation finds it is the synergy among multiple practices, policies and services that produces optimal outcomes. At the same time, collecting standardized measures, reporting on progress annually, conducting external independent evaluations, tracking programs, and continuing to enhance practices are singled out as important policy implications.
Tech Talkin' Govs: Part I
SSTI's Tech Talkin' Govs series has returned for its 12th annual edition. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses across the nation. The first installment includes excerpts from speeches delivered in Georgia, Iowa, New York, Kentucky, South Dakota, Vermont, and Virginia. Georgia Gov. Nathan Deal, State of the State Address, Jan. 10, 2012 "... I want to announce two ambitious goals.
NY Gov Unveils $1B Broadband Initiative, Report Highlights Success of Federal Investments in Broadband PPPs
New York Gov. Cuomo unveiled a $1 billion public-private broadband program to ensure every New Yorker has access to high-speed Internet by 2019. Utilizing capital funds from bank settlements, the state will commit $500 million to the New NY Broadband Program with the intent of incentivizing the private sector to invest the additional $500 million to expand high-speed broadband access in underserved and unserved areas. To receive funding, the proposed plan must meet three qualifications:
NY Gov. Proposes $1.5B for Upstate Revitalization, Statewide Economic Initiatives
This week, New York Gov. Andrew Cuomo released his proposed 2015-16 budget, including an extensive slate of economic development and innovation initiatives for the state. The governor unveiled his plans in a press conference outlining his 2015 Opportunity Agenda in lieu of this year’s State of the State address. Gov.
Have State Stem Cell Programs Been Effective in Boosting Research?
Over the past decade stem cell research has been touted as a game-changer in the life sciences and a potential fount of new biomedical innovations. As a result, several states have launched targeted programs to support stem cell research, despite the controversy that tends to surround the field. New research suggests that these programs have been effective at increasing the output of researchers in their respective states.
CT, IL, NH, TX Budget Proposals Support STEM, Workforce, Research
This week, governors in Connecticut, Illinois, New Hampshire, and Texas revealed their budget proposals, with commonalities around STEM education, workforce development, and university research initiatives. Governors in two states, New Hampshire and Texas, made growth in the innovation economy a specific priority area of their proposed budgets.
Useful Stats: Share of U.S. Venture Capital Investment by State, 2009-2014
California-based companies received about 56 percent of all U.S. venture capital dollars in 2014, the state's highest share of venture activity since the dot com boom of the early 2000s. Over the past 15 years, investment activity has steadily become more concentrated in California and a few other states. In 2009, about 67 percent of all deals and 74 percent of venture capital dollars flowed to the top five states. By 2014, those states' share of venture dollars grew to 80 percent, according to NVCA/Pricewaterhouse Coopers data.
AR, NY Legislatures Approve Economic Development Spending
Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review actions in Arkansas, Mississippi and New York.
States of Innovation 2017: Free tuition moving into more state toolboxes
This week we continue our series on state legislation pertaining to the innovation economy that has been enacted this year around the country. This second installment of the States of Innovation 2017 series deals with free tuition.
This week we continue our series on state legislation pertaining to the innovation economy that has been enacted this year around the country. This second installment of the States of Innovation 2017 series deals with free tuition.
A number of states took action to increase the education and skills of their workforce by implementing free or greatly reduced tuition programs at either community colleges or state colleges. The move to increase access to higher education while not new, took up increased urgency this year. With Arkansas, Florida, Kentucky, New York, North Carolina, Rhode Island and Tennessee all taking action this past year, Maine and North Carolina were among others considering other options but as of today’s publication not moving the proposals forward.
CT, WI sign budgets following difficult negotiations
Connecticut and Wisconsin both ended their protracted budget negotiations with the governors signing budgets in late September and late October. Faced with budget constraints and uncertainty about the spending plan, Connecticut’s funding for economic and community development is decreasing along with funding for the state’s MEP center and Manufacturing Supply Chain program, with no general funds provided for them in the second year of the biennium.
Connecticut and Wisconsin both ended their protracted budget negotiations with the governors signing budgets in late September and late October. Faced with budget constraints and uncertainty about the spending plan, Connecticut’s funding for economic and community development is decreasing along with funding for the state’s MEP center and Manufacturing Supply Chain program, with no general funds provided for them in the second year of the biennium. Wisconsin appears to be maintaining its status quo on TBED-related initiatives and has increased funding to universities that increase enrollments for “high-demand” degree programs, making $5 million available on a competitive basis.
CT Budget Bill Would Create Independent TBED Organization, Programs
Ten Connecticut startups competed in a $10,000 pitch competition at CTNext last week, but the five-year-old state initiative finds itself the winner of a much higher-stakes appraisal. Gov. Dannel Malloy approved the FY 2017 state budget bill on June 2, which will make CTNext an independent organization with $67 million in bonding support.
New York Investing $550 Million in Life Sciences Through 10-year Initiative
Gov. Andrew Cuomo proposed a new initiative this week to grow the life science research cluster throughout the state, pledging $550 million through a variety of programs including tax incentives, state capital grants, and investment capital with an expected match of $100 million from private sector partnerships for operating support.
New manufacturing hubs awarded in NY, NH
Two new hubs have been announced in the Manufacturing USA network, one focusing on sustainable manufacturing innovation and the other on tissue biofabrication, bringing the total network of institutes to 13 since its inception four years ago.
NY proposes free college tuition; KY launches new program
Two states are looking to make college more affordable through state programs aimed at decreasing or eliminating tuition costs. The New York legislature will decide the fate of a new proposal for free tuition at its state universities for middle income earners there, while in Kentucky students may be eligible for financial aid through the Work Ready Kentucky Scholarship Program.
EDA Announces Grants to Spur Manufacturing Growth, Address Declining Coal Industry
Since the beginning of July, the Economic Development Administration (EDA) has announced almost $7.3 million in grants to support advanced manufacturing and support workforce development efforts in communities impacted by the decline coal industry. In Florida and Washington, the EDA announced funding to support the facilities that can house local manufacturing firms and provide the space and equipment necessary for them to create jobs.
EDA Announces Over $8M to Expand Entrepreneurial, Business Support Services in AL, NY, TX
Over the last month, the Economic Development Administration (EDA) announced over $8 million in grants to expand entrepreneurial and business support services in Alabama, New York, and Texas including:
Cuomo talks tech and a whole lot more
NY Gov. Andrew Cuomo delivered his state of the state address over three days and six different speeches, and released his proposed FY 2018 budget following the talks. Some of his major proposals affecting the technology-based economic development field include proposals he had revealed earlier and have previously been covered in the Digest, including his proposal for free tuition as well as a major investment in the life sciences. In keeping with our Tech Talkin’ Govs series and budget reviews, some excerpts from his various speeches are detailed here, as well as a closer analysis of his proposed budget.
AL, CT, FL, MI, MO, OK, PA and WI budget proposals boost and cut TBED
In the latest round of state budget proposals, TBED initiatives receive mixed reviews. Some governors are boosting funding while others in cash-strapped states are proposing cuts.
Tech Talkin’ Govs, Part I: AR, AZ, CT, IA, ID, IN, KS, ND, SD, VT, WI - workforce, education top concerns
SSTI again presents its latest round of Tech Talkin’ Govs, where governors’ comments about TBED issues are excerpted from their state of the state and inaugural addresses. Today’s roundup includes STEM spending and workforce development in Idaho, education in Arizona, manufacturing in Connecticut and a nod to technological change in North Dakota, inaugural addresses from new governors in Vermont and Indiana, and more reports from governors who gave their addresses on the 10th. Next week the Digest will continue with Part II of Tech Talkin’ Govs featuring news from the next round of addresses.
IA, ND, NY state budgets hit and miss on innovation funding
SSTI continues its reporting on actions taken by state legislatures to invest in economic growth through science, technology, innovation and entrepreneurship. This week, we look at the budgets passed and signed by governors in Iowa, New York and North Dakota, finding mostly level and some increased funding for innovation programs in Iowa and New York – including free tuition at in-state colleges for qualifying residents – while North Dakota is looking at decreased funding for programs.