Recession Aftermath: States Unveil Long-Term Plans to Boost Economy
The national recession that began at the end of 2007 is "very likely over," according to Federal Reserve Chairman Ben Bernanke. Recovery, however, may be a long way off. Because states were affected differently by the economic downturn in both timing and impact, recovery for state and local economies is likely to occur at different times. Moody's Economy.com predicts, according to an MSNBC article, that job growth will return first in five states: Colorado, Idaho, Oregon, Texas, and Washington.
TBED People
TBED People
Walter Bumphus has been named the next president and CEO of the American Association of Community Colleges. Bumphus currently serves as a professor in the Community College Leadership Program and chair of the Educational Administration Department at the University of Texas at Austin. Bumphus will begin his tenure with AACC in January.
Jobs Tax Credit Generates $72 Million Fund for CT Firms
Connecticut has certified its first fund manager under the state's revised Insurance Reinvestment Tax Credit program, which has now expanded beyond its focus on insurance-related companies to support early stage and high-tech firms. Advantage Capital Partners has raised $72 million to invest under the revamped program. Fund managers may invest in any Connecticut-based business. One quarter of the investments must support green technology firms, and three percent must go toward pre-seed stage projects.
Biomedical Initiatives Face Cuts As Governors Seek to Erase Deficits
Governors across the nation are trying to find ways to prevent their state finances from falling further in the red as revenues continue to fall while costs for Medicare and unemployment remain high. Deficit-reduction plans announced in two states seek to delay payments and cut funding to biomedical research initiatives that were established to expand the states’ research capacity and generate wealth.
Connecticut
People
Jason Williamson is leaving his position as vice president of community development for the South Carolina Technology Alliance to become a founding partner in a new start-up tech firm.
People
Frank Dinucci announced he will step down in April 2007 as president of Connecticut Innovations.
People
Peter Scott was named the director of Kettering University's new Fuel Cell and Advanced Technology Incubator.
People
The Maryland Technology Development Corp. has appointed Renée Winsky as its new executive director.
Southern States Advance Several TBED Initiatives into 2009
Legislators in Alabama, South Carolina and Tennessee recently approved spending plans for the upcoming fiscal year. Highlights of appropriations supporting TBED are included below.
Alabama
People
New Carolina, South Carolina's Council on Competitiveness, has formed the South Carolina Engineering Cluster. Lee Stogner will lead the cluster and its steering committee, which represents government, economic develoment, academia, engineering companies and professional societies aiming to promote engineering in South Carolina.
People
Connecticut Innovations has named John Mengacci interim president while it conducts a broad search to fill the position permanently.
TBED People
Gov. Jodi Rell nominated Joan McDonald to succeed James Abromaitis as Connecticut's commissioner of economic and community development. McDonald had been a senior vice president with the New York City Economic Development Corp.
South Carolina Governor, Legislature Spar Over State’s Investment
Capturing an overwhelming majority of the votes needed to override Gov. Mark Sanford’s veto, the South Carolina Legislature prevailed last week in its efforts to position the state as a leader in hydrogen technology.
People
The following were named recipients of the 2005 National Medal of Technology:
Legislative Updates: Connecticut, New Hampshire, Ohio
In keeping with the July 1 fiscal year deadlines, several states passed their budgets last month. The following states passed budgets that include funding for alternative energy, R&D tax credits, and science, technology, engineering and math (STEM) initiatives.
Connecticut
People & TBED Organizations
Jay Moskowitz was named the first president of Health Sciences South Carolina.
People & TBED Organizations
Elaine Pullen resigned as chairman of Connecticut Innovations to focus on her consulting business.
People
John Mengacci, CEO of Connecticut Innovations, announced his resignation.
People
Peter Longo was appointed president and executive director of Connecticut Innovations. Longo previously served as the organization's deputy director and acting executive director.
Tech Talkin’ Govs, Part IV
This is the fourth installment of SSTI’s look at the Inaugural, Budget and State of the State Addresses delivered in the past week. Earlier installments, published Jan. 29, Jan. 15 and Jan. 8, are available through: http://www.ssti.org/Digest/2007/headlines07.htm
Selected excerpts of the most recent batch of speeches are provided below:
Connecticut
Stem Cell Research Update: A State-by-State Analysis
While the topic of embryonic stem cell research has been at the forefront of S&T policy since 2001, attention has shifted to the states in the last six months. Last fall, California voters overwhelmingly approved a $3 billion bond issue to support embryonic stem cell research over the next decade.
SSTI Editorial: States Respond to Call for Innovation
Last week's Digest reported on three reports that have been issued recently raising concerns about America's standing in the world in encouraging innovation. Each of the reports suggested stronger action on the part of the public and the private sector to ensure the U.S. will remain competitive.
People
Victor Budnick, executive director of Connecticut Innovations, has announced his retirement effective April 1.
People
Chandler Howard, co-president of Bank of America, is leaving to become president and CEO of Connecticut Innovations.
People
William "Bill" Mahoney is the new president and CEO of the South Carolina Research Authority.