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Displaying 1 - 25 of 48
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New program seeks to boost Minnesota’s innovation economy

Thursday, June 13, 2019

Funds for entrepreneurial training, technical assistance with R&D, and matching grants for innovative small businesses are among the items now part of Minnesota’s economic development toolkit thanks to new funding in the state’s recently signed FY 2020 biennial budget. Under the approved budget, Launch Minnesota will receive $2.5 million in each of the next two fiscal years to support innovation and entrepreneurship. Originally called the Minnesota Innovation Collaborative in Gov.

  • Read more about New program seeks to boost Minnesota’s innovation economy

Massachusetts advances new manufacturing, apprenticeship funding in last state budget of FY 2019

Thursday, July 26, 2018

Nearly a month after the start of the new fiscal year, Massachusetts legislators have approved an FY 2019 budget. Science and innovation stakeholders may find it worth the wait. Included in the $42 billion budget are new funding for a precision manufacturing initiative that will fund multiple, local activities ($2.7 million) and $500,000 for registered apprenticeships.

  • Read more about Massachusetts advances new manufacturing, apprenticeship funding in last state budget of FY 2019

Wyoming legislature passes bills promoting innovation, economic diversification

Thursday, March 22, 2018

Wyoming Gov. Matt Mead has approved legislation that will help promote economic diversification through innovation in a state that has relied heavily on a relatively small number of resource-based industries. Mead recently signed multiple pieces of legislation that comprise ENDOW (Economically Needed Diversity Options for Wyoming), a 20-year initiative focused on diversifying and growing the state’s economy. Notable bills include Senate File 118, which will establish a dedicated organization to support Wyoming’s entrepreneurs and provide funds to innovative startups, and Senate File 119, which will establish a dedicated fund for workforce training in economic sectors considered a priority for the state.

  • Read more about Wyoming legislature passes bills promoting innovation, economic diversification

RI Gov Backs $51M Plan to Jumpstart State’s Innovation Economy

Thursday, February 11, 2016

Last week, Rhode Island Gov. Gina Raimondo proposed more than $51 million in investments focused on reinvigorating the state’s economy through innovative industries with the release of her fiscal year 2017 budget request.

  • Read more about RI Gov Backs $51M Plan to Jumpstart State’s Innovation Economy

WA Legislature Dismantles Longstanding TBED Initiative, Reduces Funds for Research

Thursday, March 20, 2014

Just three years ago, lawmakers in Washington put into place a research and commercialization initiative designed as a public-private model to build on the work of two longstanding agencies and better serve the state’s innovation community. The program, Innovate Washington, was eliminated in the legislature during the 2014 session with the passage of HB 2029 and its responsibilities transferred to the state’s Department of Commerce. Funding to support research grants under the Life Sciences Discovery Fund is reduced in the supplemental budget agreement passed by lawmakers. Gov. Jay Inslee has until April 5 to act on the legislation.

  • Read more about WA Legislature Dismantles Longstanding TBED Initiative, Reduces Funds for Research

Proposed AR Budget Faces Unclear Future, MS Proposal Targets Public Education, Workforce

Thursday, November 20, 2014

Over the last couple weeks, governors in Arkansas and Mississippi presented budgets to their stage legislature. In Arkansas, term-limited Gov. Mike Beebe presented two budget proposals for the 2015-17 biennial budget to state lawmakers. However, Gov.-elect Asa Hutchison also will present a budget to the legislature that may differ from Gov. Beebe’s proposal and potentially impact funding for state agencies due to a proposed $100 million individual income tax cut. Mississippi Gov.

  • Read more about Proposed AR Budget Faces Unclear Future, MS Proposal Targets Public Education, Workforce

MA Lawmakers Pass Economic Development Bill, Awaits Gov Approval

Thursday, August 7, 2014

On August 1, the Massachusetts lawmakers enacted a comprehensive economic development bill (H.4377). The bill currently awaits Gov. Deval Patrick’s approval. Per state law, Gov. Patrick has until August 14 to sign the bill, 10 days after he received it. The approved bill that received unanimous approval by the Massachusetts state Senate was passed as a comprise package between two bills proposed in the Senate and House.

  • Read more about MA Lawmakers Pass Economic Development Bill, Awaits Gov Approval

Lawmakers Tackle Workforce, STEM and Higher Ed Policy

Thursday, June 26, 2014

Addressing accessibility, affordability and ensuring workforce preparedness topped legislators’ agendas in many states during the 2014 sessions. States and regions are increasingly competing for talent as the trend toward growing and nurturing innovation ecosystems continues.

  • Read more about Lawmakers Tackle Workforce, STEM and Higher Ed Policy

Missouri Technology Corp to Administer New Grants, Gets $5M Boost for Core Programs

Thursday, June 12, 2014

With nearly $10 million in additional funding for the upcoming year, the public-private Missouri Technology Corporation (MTC) will receive a boost in support for core programs and new resources to administer early stage business grants. MTC invests in emerging high-tech companies with a focus on bioscience industries.

  • Read more about Missouri Technology Corp to Administer New Grants, Gets $5M Boost for Core Programs

Transition to Privatize Economic Development Outlined in NC Budget

Thursday, May 29, 2014

Building on a bare bones structure for privatizing economic development established last session, Gov. Pat McCrory outlined a plan for transitioning the state’s Department of Commerce to a public-private partnership, effective July 1. The move, according to the governor, will allow for more flexibility to support businesses and achieve savings for the state. Several innovation-focused investments also were presented as part of the recommended state budget adjustments for FY15, including matching and incentive funds for early stage, high-tech companies and funding to assist campuses in commercializing technology.

  • Read more about Transition to Privatize Economic Development Outlined in NC Budget

Vermont Gov Seeks $5M in Lending Support for Startups

Wednesday, April 16, 2014

Two proposals announced by Gov. Peter Shumlin would provide additional lending tools and incentives to attract and retain technology companies using revenue surpluses for the current fiscal year. The first proposal would establish the Vermont Enterprise Incentive Fund and authorize the governor to offer an incentive package not exceeding $4.5 million to businesses that have a substantial statewide or regional economic or employment impact. The second part adds $500,000 in state general funds to the $1 million in federal funds available to the Vermont Economic Development Authority’s Entrepreneurial Lending program.

  • Read more about Vermont Gov Seeks $5M in Lending Support for Startups

MA Gov Announces Innovation-Focused Economic Development Package

Thursday, April 10, 2014

Massachusetts Gov. Deval Patrick has unveiled an economic development package intended to bolster the state’s role in the global tech economy through multi-year investments totaling an estimated $100 million.

  • Read more about MA Gov Announces Innovation-Focused Economic Development Package

WA Life Sciences Community Steps up to Help Save Grant Fund

Tuesday, April 8, 2014

Pointing to the growth potential in jobs and health within the life sciences industry sector, Gov. Jay Inslee vetoed a $20 million cut in funding to the nine-year-old Life Sciences Discovery Fund (LSDF), allowing the fund to honor existing commitments and proceed with the 2013-14 Proof of Concept grant program and Entrepreneur Mentoring grant program. The state’s budget director David Schumacher said the sheer volume of letters from biotech companies in support of saving the fund carried weight in the governor’s decision, reports The Olympian.

  • Read more about WA Life Sciences Community Steps up to Help Save Grant Fund

NY Budget Advances State’s Research, High-Tech Agenda

Thursday, April 3, 2014

Many of the proposals put forth by Gov. Andrew Cuomo for growing New York’s innovation economy were fulfilled or received ongoing support in the enacted FY15 budget. This includes a final installment of $680 million to complete the Buffalo Billion initiative, new rounds of funding for the Regional Economic Development Councils, SUNY and CUNY challenge grants, and tax breaks for manufacturers. Lawmakers also approved funding for a new genomic medicine network and STEM scholarship program.

  • Read more about NY Budget Advances State’s Research, High-Tech Agenda

FL Gov Proposes $80M for Cancer Research

Thursday, March 20, 2014

Florida Gov. Rick Scott recently provided details on his $80 million plan to bolster cancer research and treatment in the state. Of that amount, $60 million would be aimed at building a statewide network of federally designated National Cancer Institute centers, while the remaining $20 million would support peer-reviewed research grants. Currently, Florida only has one National Cancer Institute center, the Moffitt Cancer Center in Tampa. Gov. Scott’s effort would help centers in Orlando, Miami and possibly other parts of the state, upgrade their programs to pursue the designation.

  • Read more about FL Gov Proposes $80M for Cancer Research

$20M for STEM Action Center in UT Budget; More Oversight for USTAR

Thursday, March 20, 2014

Increased scrutiny for public investments has grown in recent years amid tight budget conditions. Returns on innovation-focused efforts often take time, and as a result TBED groups are always looking to improve metrics and reporting to meet greater demand for transparency. In Utah, lawmakers recently passed a bill providing more oversight for the state’s signature innovation-capacity building program following a critical audit last year. At the same time, lawmakers continued to embrace the concept of the agency they established eight years prior, and appropriated level funds to continue USTAR’s efforts in research and commercialization. The legislature also passed a bill dedicating $20 million to the STEM Action Center created last session.

  • Read more about $20M for STEM Action Center in UT Budget; More Oversight for USTAR

2014 Bills Tackle Crowdfunding, Tax Credits, Startup Capital and More

Tuesday, February 18, 2014

Several bills aimed at supporting startups, advancing research and improving the workforce have been introduced with the start of the 2014 sessions. Some of the proposed legislation offers a glimpse into the investment priorities of governors and lawmakers in the wake of economic recovery. Providing innovative companies with access to startup funds is a continued theme from previous years. Some states are seeking to expand tax credits for angel investors or offer new tax credits to encourage emerging industries. Other bills focus on generating more skilled workers quickly and positioning universities to enhance regional economic competitiveness.

  • Read more about 2014 Bills Tackle Crowdfunding, Tax Credits, Startup Capital and More

Manufacturing Groups, Private Sector Tapped to Advance Delaware Workforce

Wednesday, February 5, 2014

Delaware Gov. Jack Markell outlined a FY15 budget proposal with further detail and funding levels for TBED priorities announced in his recent State of the State address. The budget would provide $1 million to create a faster path to degree or certificate completion in advanced manufacturing and establishes a $3 million cyber workforce initiative. Higher education institutions would be tapped as partners for the new initiatives, and also would receive an additional $2 million for federal R&D matching grants as part of the budget recommendations

  • Read more about Manufacturing Groups, Private Sector Tapped to Advance Delaware Workforce

NM Gov Proposes Tax Credits, Research Initiatives for Startup Growth

Thursday, January 9, 2014

Funding to universities to compete for endowed chairs and startup funds for a commercialization initiative are among New Mexico Gov. Susana Martinez’s proposals for tech-based economic growth in the coming year. The governor also wants lawmakers to expand the state’s angel investment tax credit and reform the Technology Jobs Tax Credit and R&D Small Business Tax Credit to better support startup companies.

  • Read more about NM Gov Proposes Tax Credits, Research Initiatives for Startup Growth

Tech Projects Funded Through Third Round of NY Regional Councils

Friday, December 20, 2013

Gov. Andrew Cuomo announced more than $715 million in funding for 824 projects across the state as part of the third round of funding for the Regional Economic Development Councils initiative. Established in 2011 to improve the business climate statewide, the 10 regional councils support projects tailored to maximize resources and competitive advantages.

  • Read more about Tech Projects Funded Through Third Round of NY Regional Councils

Economic Development Programs Consolidated in PA Budget

Wednesday, July 13, 2011

Lawmakers approved Gov. Tom Corbett's proposal to restructure the state's economic development efforts by consolidating several programs within the Department of Community and Economic Development (DCED). Total general fund spending for DCED in FY12 is $212.8 million, down from $327.5 million last year or a 35 percent reduction. Much of this is achieved through consolidating programs.

  • Read more about Economic Development Programs Consolidated in PA Budget

Funding for TBED Trimmed in NC Budget

Wednesday, July 31, 2013

Lawmakers continued to provide support for life sciences at a reduced level in the recently enacted budget; however, other technology areas did not fare as well. In some cases, funding was eliminated for tech-based initiatives, and lawmakers allowed a tax credit for early stage investors to expire. Meanwhile, the North Carolina Biotechnology Center plans to consolidate activities and redouble efforts to keep things moving in the wake of a 27 percent reduction to their budget.

  • Read more about Funding for TBED Trimmed in NC Budget

Details on Proposed Economic Development Overhauls Emerge in FL, NV

Wednesday, March 30, 2011

During the campaign trail and in speeches delivered during their first few weeks in office, governors in Florida and Nevada announced plans to overhaul economic development efforts without providing many details on how the new systems would operate. Draft legislation recently was introduced in the respective states, providing some insight on the structure and governance of the proposed agencies.

  • Read more about Details on Proposed Economic Development Overhauls Emerge in FL, NV

UT Budget Provides $25.7M for USTAR in FY12; $750,000 for Economic Clusters

Wednesday, March 23, 2011

The FY12 Business, Economic Development and Labor budget approved by lawmakers includes $25.7 million for USTAR, the state-funded initiative to grow a knowledge-based economy. This is the same amount recommended by Gov. Gary Herbert, but down from FY11 projected spending of $35.4 million. That amount included some ARRA funding from previous years, however. Research Teams will receive $23 million and $1.9 million is slated for Technology Outreach.

  • Read more about UT Budget Provides $25.7M for USTAR in FY12; $750,000 for Economic Clusters

Tennessee Gov Proposes $10M for Research Consortium

Wednesday, March 16, 2011

Gov. Bill Haslam is the latest governor to unveil a broad-based proposal to grow the state's economy and create jobs through investments in S&T by asking lawmakers to dedicate $10 million for a research consortium that would recruit senior scientists to advance scientific discoveries into commercial applications and spur high-growth companies.

  • Read more about Tennessee Gov Proposes $10M for Research Consortium

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