Michigan Lawmakers Pass Angel Investment Tax Credit Legislation
Michigan lawmakers last week passed a measure aimed at increasing access to capital for small businesses by allowing taxpayers to collect an income tax credit worth 25 percent of a qualified investment in emerging industries such as advanced manufacturing and life sciences. Under HB 5921, the investment must be at least $20,000 and certified by the Michigan Strategic Fund (MSF). MSF can certify up to $9 million in credits in a single year with up to $250,000 for each business. Gov.
TBED People
TBED People
Eric Abelquist has been named executive vice president of Oak Ridge Associated Universities and deputy director of the Oak Ridge Institute for Science and Education.
Arn Boezaart, who has been interim executive director of the Michigan Alternative and Renewable Energy Center the past six months, will take over the position permanently.
Michigan Legislature Authorizes $30M for Centers of Energy Excellence
To attract additional federal funds and boost job creation, Michigan legislators passed a bill authorizing the state to spend another $30 million on a program to create alternative energy clusters and support technology commercialization.
Michigan Budget Reflects Deep Cuts; Funding for Workforce, Community Colleges Preserved
Gov. Jennifer Granholm signed the final FY10 budget bills last week, cutting nearly $1.9 billion in spending and warning state agencies of a possible 20 percent cut in state spending next year. To help fill the FY10 deficit, the enacted budget incorporates $1 billion in federal stimulus funds. With less than $600 million in federal funds available next year, the state could face a shortfall ranging from $800 million to $1 billion, reports The Detroit News.
Hiring Additional Tenure-Track Faculty as a TBED Strategy
The University of Michigan announced last month that it will spend $30 million in the next five years to hire an additional 100 junior tenure-track faculty members to build multidisciplinary research and degree programs.
People
Daniel Krichbaum was named Gov. Jennifer Granholm's new chief operating officer, replacing Mary Lannoye who left the administration as chief of staff.
People
Gov.-elect Bobby Jindal has appointed Stephen Moret as secretary of the Louisiana Department of Economic Development. Moret will assume his new post on Jan. 14, leaving behind his duties as president and CEO of the Baton Rouge Area Chamber of Commerce.
Funds to Improve Existing Industries Prominent in Louisiana Budget
Gov. Bobby Jindal unveiled his fiscal year 2008-09 budget to the legislature last week, focusing heavily on improving the existing workforce and creating a business climate that encourages entrepreneurship.
People
The New York Biotechnology Association has named Nathan Tinker its executive director, replacing Karin Duncker, who resigned in 2006.
People
Rich Cook has joined the West Michigan Science and Technology Initiative as venture center director.
People & TBED Organizations
Publisher's Note: SSTI notes with much sadness the March 5 passing of Indiana State Sen. David Ford, following a battle with pancreatic cancer. David was a good friend not only of SSTI's, but also of the tech-based economic development community across the nation. In addition to being a tireless and cheerful advocate for investing in science and technology, he was also a gentleman in the true sense of the word, and we miss him greatly.
People
John Austin is the newly appointed executive director of the New Economy Initiative for Southeast Michigan.
Tom Cech announced he will return to the University of Colorado at Boulder next year to pursue laboratory research and teaching after eight years as president of the Howard Hughes Medical Institute.
SSTI Job Corner
More information on these opportunities and others is available at http://www.ssti.org/posting.htm.
Regional Efforts in Southeast Michigan Leads to Shared Impact Report
Rallying the myriad local organizations, chambers of commerce and political jurisdictions of any large metropolitan area toward a shared economic development agenda is challenging. To twist a phrase from supply-side economics, the “trickle around” theory of benefits – when any major economic development project occurs in one community will have spillover benefits for the entire region – is a tough sell to communities and school systems trying to keep their budgets in the black.
Incubator RoundUp: Growing and Sustaining High Technology Companies
Offering customized workspace such as wet laboratories and specialized research equipment is one of the many benefits provided by technology-focused incubators. Access to university research, business mentoring and administrative support services often accompany the reduced rent facilities with the goal of growing technology companies into successful, self-sustaining enterprises. Following are select announcements of recently launched incubators and partnerships from across the nation.
People & TBED Organizations
The Aerospace, Manufacturing and Information Technology (AMIT) Cluster of Southern Arizona has consolidated its operations with the Arizona Technology Council.
People & TBED Organizations
William "Chip" Farmer was named interim director of the Greater Richmond Technology Council. Farmer replaces Robert Stolle, who left in December 2007 to join Core Consulting, a business and information technology consulting firm.
People
Lisa Kuuttila is the first CEO of Michigan State University Technologies, a business organization to train MSU students in the commercialization of science and technology.
People & TBED Organizations
The business development organizations Ann Arbor SPARK and Ann Arbor IT Zone are in the process of finalizing a merger. The resulting organization will be Ann Arbor SPARK.
Michigan Lawmakers Approve Budget: 21st Century Jobs Fund Spared, Three Universities Receive Special Status
For the better part of the year, lawmakers in Michigan have faced the daunting task of balancing both a budget shortfall for fiscal year 2007 and a nearly $1.6 billion deficit for FY 2008. An agreement between Gov. Jennifer Granholm and lawmakers was reached in the early morning hours of Oct. 31, following a one-month extension of the deadline and a brief government shutdown.
TBED Organizations & People Update
Sylvia Goldman has resigned as director of the Louisiana Department of Economic Development, effective at the end of March.
Tech Talkin' Govs 2005, Part Six
The latest in SSTI's annual "Tech Talkin' Govs" series. Five earlier installments of this 2005 review of governors' legislative priorities concerning tech-based economic development are available through the Digest online: http://www.ssti.org/Digest/digest.htm
Michigan
Will Michigan S&T Emerge Winner in Political Battle?
As the only state to have a net job loss in 2004, Michigan's political leadership recognizes something must change. The state's shifting economy, from one defined principally by its manufacturing sector to one that derives growth equally from knowledge-based industries, is at the center of the matter. Michigan policymakers are challenged to create innovative proposals that preserve one facet of the economy while broadening the other.
People
Louisiana Department of Economic Development announced Robert Fudickar will be the technology industry director for the state agency.
Lafayette Voters Approve $125M Broadband Project
The year-long battle between Lafayette Utilities System (LUS) and competitors BellSouth Louisiana and Cox Communications over the utility company's proposed Fiber for the Future project came to an end last month when voters approved the $125 million fiber optics plan by a vote of 62 percent to 38 percent.