Southern Growth hired Ted Abernathy, Jr., former Executive Vice President & COO of the Research Triangle Regional Partnership, to serve as its Executive Director, filling the vacancy created by Jim Clinton's resignation in September.

Oregon

In a period of tightening budgets, it is important for stakeholders to know that the investments they are making in tech-based economic development are yielding positive economic results - and returning revenue to the state. Recent impact assessments to examine comprehensive TBED programs in three states show how smart these investments have been. More telling, different evaluation models were used in all three states and they each reached similar conclusions: strategic TBED investments can stimulate economic growth.

State governments are poised to play a vital role in the economic recovery through their use of federally-appropriated funds and through their internal policy responses to the global crisis. Several states are focusing on innovation as a means of recovery. Massachusetts and Maine both recently released the latest editions of their annual innovation indices. These annual publications have long helped to clarify trends in the innovation economy and provided assessment of their performance relative to other states.

President Bush announced he will nominate Assistant Secretary of Commerce Sandy Baruah to serve as the administrator of the Small Business Administration.

The Rensselaer County Regional Chamber of Commerce has created the Economic Development Partnership to help businesses relocate to or expand in the county.

Steve Bazinet has been hired as executive director of the Maine Center for Enterprise Development.

Rahindra Bose is Ohio University's new vice president for research and creative activity and dean of the graduate college.

According to National Science Foundation (NSF) data released two weeks ago, companies spent in aggregate $247.7 billion on R&D expenditures performed in the U.S. in 2006. Leading the nation was California, with $58.4 billion in industrial R&D, followed by Michigan ($16.5 billion), Massachusetts ($15.6 billion), New Jersey ($14.6 billion), and Texas ($13.3 billion).
 

Funding for the New Jersey Commission on Science and Technology, which administers the state's stem cell research program, would be cut nearly in half under Gov. Jon Corzine's FY10 budget recommendation. The commission is slated to receive $10.4 million, a decrease of $9.9 million from the FY09 adjusted appropriation, to administer grant programs focused on commercializing new technologies, develop early-stage growth companies and business incubators, and enhance New Jersey's stem cell research capability.

The newly-created Clean Energy Leadership Council, convened by the Washington governor's office and a state-wide public-private clean energy alliance, held its first meeting. The council will deliver a clean energy strategy and recommendations by December 1, 2010.

Gov. John Baldacci signed two major bills this session supporting renewable energy R&D and creating a path for building private sector jobs in clean energy businesses. Lawmakers also passed a $150 million bond package, which includes funding for ocean and wind energy demonstration projects and support for Maine technology entrepreneurs. Voters will have the final say on the bond package in three separate ballot measures presented over the next two years.

The Piedmont Triad Research Park laid off Bill Dean, director of the park, and Nancy Johnson, marketing director. Park officials said that the park's project manager and executive assistant also were laid off.

The lazy days of summer may be the most challenging time to keep students and teachers motivated and engaged in academics. Fortunately, several programs across the country have risen to the challenge. And, with the Obama Administration's pledge to make math and science education a national priority, now may be an opportune time for collaboration among federal and state agencies, private foundations, and industry to reverse the U.S. decline in science, technology, engineering, and mathematics (STEM) fields.

Over the past few months, several states have enacted spending plans for the upcoming fiscal year and passed legislation to support renewable energy initiatives and tax credits for R&D. While some TBED programs will face dramatic cuts in FY10, others are slated for slight decreases or will receive level funding. The following synopsis provides an overview of the 2009 legislative sessions across the following states:

The $29.3 billion total spending plan for FY11 outlined last week by Gov. Chris Christie eliminates or significantly reduces funding for business incentive programs, including InvestNJ and funding for high-tech business tax credits. In place of the programs, the New Jersey Partnership for Action would be established as a new one-stop-shop to assist businesses in relocation, retention and incentive development.

Maine's 2010 legislative session wrapped up last week, ending on a relatively high note for tech-based economic development (TBED). Actions supporting TBED include a measure signed by Gov. John Baldacci to encourage venture capital investment in innovative companies and the legislature's approval of a bond package that includes $11 million for ocean wind energy demonstration sites through the University of Maine System.

Four bond issues totaling $108.3 million appear headed for passage by voters following the primary election yesterday. Two of those measures are aimed at job creation efforts through capital investments, funding for R&D, and renewable energy measures. The Associated Press has projected the $23.75 million economic development bond as winning with a narrow lead of 51-49. The energy bond is passing with 59 percent of the vote.

A new state agency to promote innovation and job creation in New Jersey was established by Gov. Chris Christie earlier this year. Envisioned as a hub for all economic development activity, the New Jersey Partnership for Action consists of three interconnected organizations to promote the state's incentives and resources, develop pro-growth policies, and assist businesses in navigating government programs. The governor's promise of a more effective strategy for economic development activity comes at the same time of severe reductions to the state's technology-based initiatives, however.

New Jersey lawmakers last week approved several bills as part of the "Back to Work NJ" economic development and jobs plan proposed by Democratic legislative leaders. Among the measures approved is The New Jersey Angel Investor Tax Credit Act (S.2454) providing incentives to taxpayers who invest in emerging technology companies. Gov. Chris Christie has yet to take action on the package of the bills, which could cost the state up to $805 million in business subsidies and lost corporate tax revenue in the coming fiscal year, reports New Jersey Newsroom.

Maine Governor Paul LePage named Phillip Congdon as the new commissioner of the Department of Economic and Community Development. Cogndon is a licensed professional engineer who spent more than 20 years with Texas Instruments in Dallas. He replaces Acting Commissioner Thaxter Trafton.

The sixth installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Connecticut, Illinois, New Hampshire, New Jersey and North Carolina. The first five installments are available in the Jan. 5, Jan. 12, Jan. 19, Jan.

SSTI recently reported on two important bills passed by lawmakers in Michigan late last year and in New Jersey earlier this year that would provide incentives for taxpayers who invest in emerging technology companies. As an update to the Dec. 8, 2010 and Jan. 12, 2011 stories, both former Michigan Gov. Jennifer Granholm and New Jersey Gov. Chris Christie have taken action on the bills with opposing outcomes. Gov.

Recognizing the value in supporting companies that innovate to create high-quality jobs, governors in New Jersey and Louisiana recently outlined proposals to enhance tax incentives for R&D, technology commercialization, and transferable tax certificates during the upcoming legislative sessions. In New Jersey, Gov. Chris Christie proposed increasing the R&D tax credit to 100 percent and restoring full funding for the Technology Business Tax Certificate Transfer program as part of his FY12 budget recommendations. Louisiana Gov.

Three recent reports from Maine provide insight into the challenges of fostering an innovative economy in a rural state. Overall, the research suggests that Maine has done well in its efforts to support startups, but could do more to help those startups expand and find new markets. By encouraging innovation-based businesses to expand to markets outside of Maine and by offering mentoring services, the state could overcome the stagnation that can occur when companies and states focus on local markets.

Tuesday’s Republican victories in the gubernatorial races for New Jersey and Virginia mean a shift in political power for both states. With current fiscal conditions continuing to press state revenues lower and unemployment rolls higher, much of the new governors’ attentions could pass over tech-based economic development policies. Alternately, increased investments in TBED may be exactly what are needed right now to help create high-wage jobs in both states.

The third installment of SSTI’s Tech Talkin’ Govs’ series includes excerpts from speeches delivered in Delaware, Maine, Missouri, New Hampshire, Ohio, Rhode Island, South Dakota, Utah and Wisconsin. The first and second installments are available in the Jan 13 Digest and Jan. 20 Digest, respectively.