It won’t come to any surprise to Digest readers that there’s a connection between universities and economic prosperity. In addition to educating students and advancing science and technological innovation, the localized economic impact of institutions, alone, provides a buffer to economic swings for many mid-sized and smaller cities and college towns. How best to incorporate universities into regional tech-based economic development strategies without compromising core missions is an art not every community has mastered.

In his recent combined State of the State and budget address on March 7, Illinois Gov. Rod Blagojevich proposed the formation of the Illinois Community Assets Fund (ICAF), a $100 million venture designed to increase access to capital and financing to economically distressed communities and populations that have had inadequate access to mainstream capital markets within the state. The assets of ICAF would be contained within the State Treasury, and the Illinois Department of Commerce and Economic Opportunity (DCEO) would administer the fund.

Most of the nation's governors use the winter months to publicly lay out their agendas, visions and budget requests for the coming year. The text of State of the State Addresses, Budget Messages and, to a lesser extent, Inaugural Addresses, often reveals each governor's legislative priorities and new initiatives to be pursued over the coming months.

ConnectKentucky, a public-private partnership leading efforts to accelerate broadband availability and technology literacy throughout the Commonwealth, has formed a national umbrella organization called Connected Nation. In addition, René True has joined ConnectKentucky as director of operations, and Brent Legg has been added as director of state and local initiatives for Connected Nation

Jay Tieber is the new president of the National Association of Seed and Venture Funds.

The pace for new advances in science and technology has quickened significantly over the past 10 years -- so much so that companies are challenged to stay current with the latest innovations. Entire new fields such as nanotechnology are being created while products introduced this week may be obsolete before the year is out.

Jim Petell is the first director of technology transfer and commercialization for the University of North Dakota.

In an effort to increase the economic impact of the state's university-based research, Gov. John Hoeven has included $50 million in his 2005-07 budget request to create Centers of Excellence on each of the North Dakota 's college campuses.

According to Gov. Ernie Fletcher, Kentucky is on the wrong side of a widening digital divide as the Commonwealth ranks 44th in its proportion of high-tech companies, 45th in household computer use, and 43rd in citizen Internet use. To help improve these figures, the governor has called for a broadband deployment and adoption plan that will leverage state, federal and private investment to have full, statewide broadband deployment by 2007.

The Alaska MEP, a new nonprofit entity formed by the Alaska Native Arts Foundation and the Anchorage Economic Development Corporation, has named Robert Pope as the first Interim Director.

Securing the multi-year funding needed to properly ramp up technology-based economic development (TBED) initiatives can be difficult in states with annual budget cycles and tight revenue streams. Fortunately, there is one federal agency that provides financial assistance increasingly toward local and regional projects matching the interests of the nation's TBED community.

The Bullitt County Economic Development Authority of Kentucky has named Bob Fouts as interim director.

Robin Schabes, Chicago Mayor Richard Daley's special assistant for technology, has announced her resignation. Schabes staffed the Mayor's Council on Technology Advisors.

Speaking to a joint session of the House and Senate, Illinois Governor Rod Blagojevich recently presented his first budget, one that addresses a $5 billion budget crisis.

A technically-skilled workforce is one of the elements required for a tech-based economy, so the issue of stopping the brain drain is of critical importance to some regions and states.  The choice for some states, it has been observed, is to turn into retirement homes or to retain their college graduates; in short, to avoid losing their minds.  Maine, Ohio, and Pennsylvania are just a few of the states that have been looking at the issue.

Several recent project announcements highlight communities using incubators and research parks, some of the tools for technology-based economic development, in specialized formats to capitalize on existing strengths and nurture additional growth of clusters of related tech firms. Such targeted approaches can help to focus other TBED activities for additional benefits.

Illinois Governor Rod Blagojevich has nominated Jack Lavin to run the newly named Department of Commerce and Economic Opportunity. The agency was formerly called the Department of Commerce and Community Affairs. Lavin was chief financial officer for Rezco Enterprises.

Hydrogen and fuel cell technologies in Illinois could produce sustainable economic growth and environmental benefits for years to come, suggests a report recently released by the Illinois Coalition. Prepared by the Illinois 2 H2 Partnership, The Hydrogen Highway: Illinois’ Path to a Sustainable Economy and Environment looks to establish the state as an international leader in the fuel cell industry.

Kentucky Governor Ernie Fletcher joined National Aeronautics and Space Administration (NASA) officials earlier this month to announce a partnership in support of the Moon-Mars initiative. The agreement pairs the Kentucky Science and Technology Corp. (KSTC) with the nation's principal agency for space exploration.

North Dakota Governor John Hoeven dedicated the lion's share of his State of the State Address to promoting a vision of economic growth for the state based entirely on technology-based economic development. The proposals centered on more than a dozen new university-based Centers of Excellence and new tax credits.

Kentucky Governor Ernie Fletcher has named Derrick Ramsey as deputy secretary of the Commerce Cabinet.

The promise of high-wage jobs, increased business competitiveness and wealth creation makes the commercialization of university research a central element in the technology-based economic development strategies of many states, provinces and regions of North America.

The Chicago based Committee of 200, an organization of leading women in business, has named Diane Graham as its new chair.

In mid-September, Governor Rod R. Blagojevich unveiled a new approach to economic development in Illinois– regionalism. While several other states currently use or have explored a regionalized approach to delivering state economic development services, the concept is new for Illinois.

Buddy Buckingham, director of regional planning at Murray State University, will serve as interim director of the new MSU Innovations and Commercialization Center. Buckingham also currently serves in the Kentucky General Assembly.