OH, TN, TX, state budgets focus on innovation, R&D, education
SSTI continues to review state budget proposals as they are released, combing through them for TBED-related initiatives. This week, education and research and development programs are revealed as we examine the budget proposals from governors in Ohio, Tennessee and Texas.
Tech Talkin’ Govs Part V: MD, ME, TX keep education in mind
With the latest round of state of the state or budget addresses, the states’ governors focused on their states’ financial situation. Education and economic development were still on the minds of leaders in Maine, Maryland, and Texas. With this fifth installment, less than 10 governors have yet to deliver their addresses in the coming weeks or months.
Regions win through comprehensive workforce development strategy
With job growth for middle-skill level jobs slowing, the Federal Reserve Bank of Dallas and Austin-based nonprofit Center for Public Policy Priorities studied the nation’s best practices and surveyed regional workforce boards in Texas to determine how communities there are addressing the challenge. Their findings are detailed in the report, Regional Talent Pipelines: Collaborating with Industry to Build Opportunities in Texas, released last month.
Tennessee reconnects with adult students, aims to boost workforce
Adults in Tennessee seeking to return to the classroom will have a new option for free tuition at community colleges, part of an expansion of the Tennessee Promise scholarship program. The newly passed and expanded Tennessee Reconnect legislation extends eligibility for free tuition to persons who have been out of school for longer periods of time or who may have never attended college. It is part of Gov. Bill Haslam’s “Drive to 55” focus, where he hopes to increase the percentage of the state’s adults equipped with a college degree or certificate to 55 percent; it is currently closer to 30 percent in Tennessee.
SSTI Examines Trends in Innovation Policy from the State Legislatures
As many state legislative sessions wind down, a clearer picture of the current direction of state innovation policies is emerging. This week’s SSTI Weekly Digest presents a few of the major trends in technology-based economic development initiatives approved by state legislatures during their most recent sessions. While this review is not meant to be comprehensive, it should illuminate the shifts states are making to refine their investments in the high-tech economy by providing smarter, more targeted support.
MI joins NY, TN in Taking a Regional Approach to Economic Development
Recently, Michigan Gov. Rick Snyder announced a statewide Regional Prosperity Initiative — a voluntary, competitive grant process for existing state-designated planning regions and metropolitan planning organizations. The plan will divide the state into 10 zones with the intent of empowering local and regional partners to develop a consensus vision and implementation plan for economic success.
MI, NH, TX Universities Redesign Commercialization, Economic Development Programs
Because universities are increasingly seen as hubs for regional economic development, many institutions are reorganizing their business engagement efforts to eliminate the barriers between universities and the innovation community. Recently, the University of New Hampshire, the University of Michigan Medical School and the University of Texas at Arlington all announced plans to streamline and redesign their innovation services, aiming to increase their contribution to regional job and business creation.
New Developments in Capital: Strong Results Announced, New Funds Created
In the last month, major new developments have occurred in TBED capital programs. Launch Tennessee and Pittsburgh-based Innovation Works both announced positive findings about the growth of their startup investment ecosystems with $1 billion being raised by Tennessee startups from 2012 to early 2016 and over $279 million invested in Pittsburgh startups in 2015. Meanwhile in Ohio, both Youngstown-based and Cincy-based startups will see an influx of capital, while a new $150 million fund focused on stem cell companies and regions has been launched.
Early Stage Capital Measures Pass in KS, TN, and WV, In Limbo for AZ and ND
A mixture of success and trepidation accompanied 2016 legislation introduced in several states to create, extend, or recapitalize angel tax credit programs. While legislation in Arizona’s legislature failed due to a lack of support, angel tax credit bills in Kansas and Tennessee passed easily with broad support from their governors, lawmakers, and the public. In North Dakota, the state’s angel tax credit program faces an unclear future due to concerns about transparency and oversight. To stimulate investments in West Virginia’s startup community, Gov.
Ballot Preview: Voters to Decide on Taxes, GMOs, Higher Ed
On November 4, 42 states will vote on 146 ballot issues across a wide array of issues. In addition to initiatives on gun control, bear baiting, and the minimum wage, several initiatives relevant to the TBED community are also up for decision. SSTI has gathered information on many of these and will discuss their results after next week’s elections.
New Governors Offer Previews of Their Economic Strategies
On Tuesday, 36 states held gubernatorial elections. Though it was a good night overall for incumbents, 10 new governors will take office next year. Republicans picked up four governorships that are currently under Democratic control, including Arkansas, Illinois, Maryland and Massachusetts, while Democrats managed a win in currently Republican Pennsylvania. New governors will also take office in Arizona, Hawaii, Nebraska, Rhode Island and Texas.
TBED Ballot Issues, Bond Proposals Fare Well in Midterm Elections
In case you missed it, the midterm elections were on Tuesday, resulting in Republicans taking control of Congress, several new governors, and five states endorsing minimum wage increases.
TN Commits $8M to Support Rural Economic Development
Tennessee Gov. Bill Haslam recently announced a new fund to support economic development in rural parts of the state. While most of the $8 million (approximately $7 million) is designated for shovel-ready economic development sites and tourism projects, the state will commit $600,000 for economic development grants to support entrepreneurship in small towns across the state including $300,000 to support a Main Street Business Incubator Program for downtown business districts.
States Find New Ways to Expand Access to Higher Education
Forty-one states are spending less per student than before the 2008 recession, according to a recent study from the Center on Budget and Policy Priorities. As a result, more of the burden of higher education costs is being passed on to students, putting college out of reach for many. With state budgets still tight, many states are experimenting with new ways to make a college education accessible to all students.
Budget Update: NE, TN Budgets Fund New Efforts to Boost K-12 STEM
Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the SSTI Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review actions in Tennesse and Nebraska.
Texas Launches $40M University Research Initiative to Succeed Emerging Tech Fund
Texas Gov. Greg Abbott has signed legislation that (SB 632) establishes a new Governor's University Research Initiative and ends the state's Emerging Technology Fund (ETF). Created in 2004, the ETF provided financial support for research partnerships at private companies and state universities through equity investments and grants. The new initiative will not take equity in companies, but instead will focus on university research and commercialization grants.
Tennessee Announces Investment to Establish 100 Ag-Tech Businesses by 2020
Tennessee leaders hope to raise $10 million in public and private funding over the next five years to support an effort to attract 200 agricultural technology entrepreneurs and establish 100 ag-tech businesses by 2020. USDA Rural Development and the Tennessee Department of Agricultural recently announced they would seed that effort by contributing $220,000 to AgLaunch, a program to aid early-stage ag-tech companies. Memphis Bioworks Foundation will lead the initiatives, providing mentoring and programming opportunities for entrepreneurs. The program will begin in 2016.
Regional Accelerators Play Key Role in New LaunchTN Plan
Established last year to help entrepreneurs develop business plans and launch companies, Tennessee's nine regional accelerators also will play a key role in the state's new five-year strategic plan through partnerships to create and expand angel capital networks and mentoring for new startups. The LaunchTN initiative was unveiled last week by Gov. Bill Haslam, who charged the Tennessee Technology Development Corporation (TTDC) with implementing the plan and serving as the lead advocate for the state's innovation agenda.
Gov Announces $50M Innovation Strategy for Tennessee Regional Jobs Plan
Hoping to capitalize on Tennessee's "entrepreneurial spirit," Gov. Bill Haslam today announced today a $50 million innovation strategy as part of his regional jobs plan outlined last month. Named INCITE for its focus on innovation, commercialization, investment, technology and entrepreneurship, the initiative encompasses four components, including:
State and Local Economic Development Centering on Regional Approaches
Much of the recent economic recovery plans coming from governors across the country have focused on growing and nurturing existing businesses through a regional approach to economic development. The idea is that by identifying and defining the unique needs of a region, policymakers and practitioners can then provide the necessary tools and resources to grow industries likely to succeed within a given region, thus improving the overall economic landscape of the state. This approach is happening both in states and at the local level.
Higher Ed Tuition Hikes Nearing Double Digits in Some States
As the cost of a college education continues to rise and good paying jobs are seemingly scarcer than ever before, many Americans are questioning the value of a college degree. A recent survey from the Pew Research Center found 57 percent of Americans believe the U.S. fails to provide good value for the money students and their families spend, and about four in ten college presidents say the system is headed in the wrong direction. At the same time, however, studies find the lifetime earnings of college graduates to be much higher than those of high school graduates.
Study Examines the Impact of Policy Dynamics on University Innovation in Three Southern States
In a recent comparative study of state S&T policy dynamics in Georgia, Missouri and Texas, authors Jarrett Warshaw and James Hearn examine the nature of state efforts intended to bring together government, universities and industry to support innovation at publically funded universities and spur economic development.
San Francisco, Austin Seek to Include More Residents in Tech Prosperity
On the heels of a recent memo from the President’s Council of Advisors on Science and Technology (PCAST) highlighting the difficulty middle-skill workers are having finding a route into the modern economy, reports from two tech hotspots suggest that local action is needed to ensure that tech success translates into widespread economic prosperity.
Tennessee Promises Free Community/Technical College Education
Tennessee legislators overwhelmingly approved Gov. Bill Haslam's cornerstone proposal for addressing affordability and accessibility issues plaguing higher education while at the same time making a substantial commitment toward future workforce preparedness: free community/technical college tuition.
Govs Focus on Education in AL, LA, OK, PA, TN Budget Proposals
SSTI’s analysis of gubernatorial addresses, strategic plans and budget proposals continues this week with highlights from Alabama, Louisiana, Oklahoma, Pennsylvania and Tennessee. Governors are facing difficult fiscal situations in several of these states, often scaling back tech-based economic development efforts. Tennessee Gov. Bill Haslam, however, is using a fiscal surplus to invest in higher education and regionally focused economic initiatives.
Alabama