SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene the 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.

This week, governors in Michigan, Ohio, Oklahoma, Tennessee, and Wisconsin unveiled their budget proposals. Included in the governors’ recommendations are several cases of agency restructuring and funds for workforce development, innovation tax credits, and other TBED-relevant issues.

SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.

Columbus-based State Auto Labs, the innovation arm of the State Automobile Mutual Insurance Company, is collaborating with venture development organization Rev1 Ventures on a $25 million corporate venture fund to support innovation and entrepreneurship in the insurance industry. Through the partnership, Rev1 Ventures and State Auto Labs will help connect InsurTech and FinTech startups with resources such as capital, technologists, and industry experts.

In an effort designed to stimulate economic growth and workforce development in Ohio and New York communities, KeyBank Foundation announced a $24 million grant awarded to JumpStart, Inc. The grant represents the foundation’s single largest philanthropic commitment to date.

Ohio Gov. John Kasich signed a bill (HB 233) last month that authorizes cities and villages to create Downtown Redevelopment Districts (DRDs) that can address innovation districts and/or historic rehabilitation. The DRDs permit tax abatements of up to 70 percent of increased assessments in conjunction with payments in lieu of taxes (PILOTs) or a redevelopment charge that functions as a special assessment tax. In the case of innovation districts, these charges may be used to fund loans or grants to technology businesses—specifically including R&D and technology transfer activities—or to incubators or accelerators in the district.

Venture development organizations are reaching into new territory for funding partners and finding success in innovative models. Two new funds, the San Diego Tech & Life Science Investor Syndicate and Rev1 Fund I in Columbus, OH, have recently opened with less traditional funding sources, testing the waters of crowdfunding and heavy corporate backing, respectively. The San Diego fund, launched by CONNECT, allows anyone wanting to invest $1,000 the opportunity to participate alongside more experienced lead investors.

The U.S. Department of Commerce’s Economic Development Administration (EDA) announced a number of grants last week to aid regional innovation and entrepreneurship efforts through infrastructure improvements, the creation of new spaces, and business improvements in regions across the country. The grants fund projects in AR, AZ, CA, ME, MI, and OH.

Since the beginning of July, the Economic Development Administration (EDA) has announced almost $7.3 million in grants to support advanced manufacturing and support workforce development efforts in communities impacted by the decline coal industry. In Florida and Washington, the EDA announced funding to support the facilities that can house local manufacturing firms and provide the space and equipment necessary for them to create jobs.

The big data technology and services market is expected to grow at a compound annual rate of 23.1 percent over the 2014-2019 forecast period, with annual spending projected to reach$48.6 billion in 2019, according to a 2015 study from IDC – a market research firm. Hoping to leverage this exponential growth into research and economic development opportunity, several universities are fund raising to establish new big data R&D Centers in the communities they serve.

Opportunities for successful workforce development partnerships exist across a variety of industries and geographies, according to a recently released report from the Community Development Department at the Cleveland Fed. The report, Addressing Employment Needs through Sector Partnerships, includes five case studies from throughout the Federal Reserve’s Fourth District, which contains Western Pennsylvania, Eastern Kentucky, the panhandle of West Virginia and all of Ohio. Although sector-based initiatives have been around for quite some time, the Workforce Innovation and Opportunity Act, whose final regulations became publicly available in June 2016, places a strong emphasis on aligning education and job training with employer needs, according to the report’s authors Kyle Fee, Matt Klesta, and Lisa Nelson.

A portfolio company of JumpStart Inc., an Ohio venture development organization, is to be purchased for $1.1 billion. The proposed acquisition of Ohio startup CoverMyMeds by McKesson Corp. marks Ohio’s first tech startup unicorn. JumpStart Evergreen, the non-profit fund that invested in CoverMyMeds, was funded in part by Ohio Third Frontier. CoverMyMeds was started in Ohio in 2008 and is now headquartered in Columbus.

More governors delivered their state of the state addresses and this week we bring you TBED news from governors around the country. Areas of focus include tech infrastructure needs, diversifying economies, cybersecurity and education. While some governors are giving their inaugural addresses, Gov. Nikki Haley used her time to bid farewell. Following are excerpts from the past week’s addresses.

As governors around the country are releasing their proposed budgets, SSTI is examining the proposals for TBED initiatives and will be presenting the findings here. This week Idaho, Maine and Washington are reviewed. Check back in the coming weeks for updates.

Government offices focused on innovation have been around for several years, yet some states and even the federal government are seeking new ways to incorporate the concept into their offices. This week the White House announced a new Office of American Innovation, while earlier this month Rhode Island used its Office of Innovation to launch a new effort called the Government Innovation League, and in January Ohio’s governor proposed funding a new state office focused on innovation, emerging technologies and their job-creation potential.

Ohio Gov. John Kasich is one of the last governors to deliver a state of the state address, which he did Tuesday evening. The former presidential contender assured the audience that he is “not running for anything,” but wanted to thank those who worked on managing the state budget. He used the address to focus on a variety of topics, including tech and innovation initiatives in the state, and educational efforts to support those industries. Kasich did not read a prepared speech and the following comments were taken from a transcript of his address:

The Ohio Third Frontier Commission (Third Frontier) has announced investments in entrepreneurial service providers (ESP’s) in the Dayton and Toledo regions. A new collaboration focused on health innovation will lead the initiative in Toledo, while an existing entrepreneurial center will lead programming in Dayton. Both regions had been among Ohio’s largest without a dedicated ESP. The state also awarded funds for its first joint-university program at Cleveland State University and Kent State University, and for commercialization activities at Cincinnati Children’s Hospital.

After training nearly 80 PhD scientists and engineers in the craft of policy making, the California Council on Science and Technology (CCST) has awarded planning grants to nine other states to evaluate the potential to create a policy fellowship for scientists and engineers in their state capital. The new one-year grant, which is administered by CCST and funded by the Gordon and Betty Moore Foundation and the Simons Foundation, will support teams in Alaska, Colorado, Connecticut, Idaho, Massachusetts, Michigan, New Jersey, North Carolina, and Washington as they work on feasibility studies and other strategic steps toward creating science fellowships in their state policy arenas.

Last week, the U.S. Department of Transportation announced that Columbus, home to SSTI’s 2016 Annual Conference, has won a $40 million grant from the agency, beating out five other cities in the Smart City Challenge.