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.

Massachusetts' innovation indicators may be strong, but the conversion of innovation into new high tech jobs is lagging and the state’s median household income continues to dip, according to the latest Index of the Massachusetts Innovation Economy.

Chief Executive Officer

Oklahoma Center for the Advancement of Science and Technology

Many minority population groups are historically underrepresented in science, technology, engineering, and math (STEM) fields. This is particularly true of the country's Latino population, one of the fastest growing segments of the U.S workforce. As a result, several state and regional tech-based economic development programs are looking for ways to broaden participation in STEM fields. A recent evaluation of a Texas program finds encouraging results, perhaps suggesting a model for others to replicate.

Gov. Rick Perry announced last month a long-term, strategic job creation plan that will focus state efforts on six industry clusters that economists say will be the engine of future job creation and economic growth in the U.S. Although the state already has an advantage in terms of a growing workforce, the key is retaining workers that are skilled and trained in emerging technology fields, the governor said.

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.

Former Massachusetts House Majority Leader Salvatore DiMasi has replaced Thomas Finneran as Speaker of the House. Finneran recently resigned to run the Massachusetts Biotechnology Council.

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.

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

The Sacramento Regional Technology Alliance is losing its executive director as Clare Emerson has announced she is relocating to oversee AEA's Texas office.

Details on a $110 million initiative to create more jobs and stimulate the Massachusetts economy were released yesterday by Massachusetts House Speaker Tom Finneran and other state leaders. The initiative, Mass Jobs: Investment and Opportunity, is an innovation-friendly plan to streamline government functions and encourage growth in emerging technology through capital formation, regional development, and stability in regulation and taxation.

As many states are striving to increase their academic research capacity in areas that will strengthen long-term economic competitiveness, the governor of the Lone Star State is pursuing an alternate course that closely resembles traditional business recruitment and retention models.

For Texas, the appropriate role for the state to serve in fostering economic development continues to evolve. With the passage of Senate Bill 275 earlier this month, the third organization in seven years will take the lead to encourage economic growth — this time with a strong focus on clusters and technology-based economic development.

The Institute for Government Innovations has announced it is accepting applications for the 17th Annual Innovations in American Government Awards, ultimately to identify outstanding examples of creative problem solving in the public sector.

Most practitioners who have been in the tech-based economic development field long enough know the presence of a strong research university can make the job much easier. New innovations and technologies to commercialize through licensing and spinoff companies, research facilities and experts to partner with local companies, and a constant supply of fresh graduates for the workforce are just a few of the benefits a research institution can offer the local and regional economy.

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.

Richard Greene, director of the Arlington Technology Incubator and former mayor of Arlington Texas, has been appointed regional administrator of the U.S. EPA.

Massachusetts Governor Mitt Romney recently announced a plan to spur job growth in the state by tapping the expertise of area business, community and education leaders through Regional Competitiveness Councils. Six such councils will represent the Berkshires, Cape and Islands, Central, Northeast, Pioneer Valley and the Southeast regions of the state.