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.

Former New Mexico Gov. Garrey Carruthers (1987-1990) has been named vice provost for economic development at New Mexico State University.

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

Like many low-population states that cannot benefit from tax revenues from oil and gas exploitation such as Wyoming and Alaska, Rhode Island must leverage its existing university and industry research capabilities more fully and encourage more private investment activity, according to the five initial recommendations of the Rhode Island Science & Technology Advisory Council (STAC).

Before ending its 2003 session, the Rhode Island legislature signed off on nearly all of the technology-based economic development (TBED) initiatives at the core of Gov. Donald Carcieri's strategy to help the state rebound from the down economy. First outlined in his Feb. 4 State of the State Address (see the Feb.

Providence was listed among the top 50 cities in the U.S. in which to do business in a June issue of Forbes Magazine. Now, a new initiative to jumpstart economic development in the Rhode Island capital is aimed at solidifying the ranking.

Larry Willard, president of the University of New Mexico Board of Regents, is leaving the position to become chairman of the New Mexico Economic Development Corp.

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.

Increased funding for equity investments and a new university-industry R&D partnership program are among the pieces of legislation New Mexico Governor Bill Richardson signed this week, greatly expanding New Mexico's portfolio of programs to grow a tech-based economy. Most of the initiatives were included in the economic development agenda Gov. Richardson outlined during his first State of the State address in January. They are:

Katherine O'Dea has been named executive director of the Rhode Island Technology Council.

Rhode Island, like nearly every state in the country, is facing a projected budget deficit in FY 2004. To deal with a $175 million or 6.6 percent shortfall, 21 agencies are facing budget reductions in Governor Don Carcieri's first budget request to the Rhode Island General Assembly. However, demonstrating his commitment to "make strategic investments to promote job growth," Gov. Carcieri calls for increased support for several tech-based economic development initiatives.

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.

Addressing a joint session of Rhode Island's General Assembly, Gov. Don Carcieri unveiled last week a fiscal year 2005 budget that includes funding for several technology-based economic development (TBED) initiatives.

Deborah Fleischaker has been appointed deputy secretary for the New Mexico Department of Economic Development.

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.

The Association of University Research Parks has recognized Sandia National Laboratories for the 2003 Excellence in Technology Transfer Award. Over the past five years, Sandia has participated in 183 new cooperative research and development agreements with industry partners to jointly develop technology that is incorporated into commercial products.

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.

Randy Burge has announced his resignation as director of the New Mexico Department of Economic Development's Office of Science and Technology. Mike Orshan will serve as acting director beginning Sept. 29.

Approximately $350 million in grants recently awarded by one of the nation's leading biodefense research agencies are intended to lessen the effects of any future bioterror attack. Administered by the National Institute of Allergy and Infectious Diseases (NIAID), the funding will be spread over five years for establishing eight Regional Centers of Excellence for Biodefense and Emerging Infectious Diseases Research (RCEs).

Tucked in the fine print of Illinois' budget bills was language to merge seven financing agencies, according to the June 11 edition of The Bond Buyer. Among the agencies included in the merger are the Illinois Development Finance Authority, the Illinois Research Park Authority (inactive), the Illinois Community Development Authority and the Illinois Rural Bond Bank.