The U.S. Department of the Treasury released long-awaited guidance on the new implementation of the State Small Business Credit Initiative (SSBCI). The rules provide preliminary guidance to states, territories and Tribal governments on permissible uses of $9.3 billion in funds to support small business capital access.

Congress passed the bipartisan infrastructure framework, formally, the Infrastructure and Investment Jobs Act, and President Joe Biden is expected to sign it the week of Nov. 15. While small as a percentage of the trillion-dollar total, there are a number of proposed items that can support regional innovation economies, with broadband being the highest funded.

As the Economic Development Administration (EDA) continues to award its $3 billion allotment of pandemic relief funding made available by the American Rescue Plan Act of 2021 (ARPA), many states are taking aim at several specific areas of economic concern — while others are maintaining a broad perspective.

The U.S. Department of the Treasury will be meeting with SSTI members on Nov. 22 to discuss the State Small Business Credit Initiative (SSBCI). States, venture development organizations and numerous other tech-based economic development entities around the country are looking for information on how to best use the program to effectively support small business capital access in their regions.

A job market that was struck an unprecedented blow with the pandemic became the focus of a recovery built on better jobs, not simply maintaining the status quo. And for workers across the country, myriad programs exist, or are being developed, to help them upskill or reskill as they seek new opportunities and adjust to changing demands of the labor market. Even as National Apprenticeship Week is underway this week, change is evident as the U.S.

Last week, Japanese Prime Minister Fumio Kishida’s advisory panel called for an $88 billion university fund to establish the nation as a center of science and technology and distribute wealth to the wider public.

The U.S. Census Bureau has recently announced that data collection has begun for Phase 7 of the Small Business Pulse Survey (SBPS). The SBPS measures the effects of changing conditions for small businesses (businesses that have a single location and under 500 employees) during the COVID-19 pandemic. This phase of the survey also includes new questions on changes in the use of digital technologies and in business, production, and management practices.

This edition of SSTI’s Useful Stats begins a series of articles examining recently updated Gross Domestic Product (GDP) data for 2020, identifying changes in GDP per capita during the first year of the economic impacts from the Covid-19 pandemic, and setting the stage for future articles diving deeper into the impacts of the pandemic on local economies.

The Economic Development Administration (EDA) recently announced it received more than 500 applications to its Build Back Better Regional Challenge (BBBRC. Applicants are competing for 50 to 60 Phase 1 awards of $500,000 each to support the planning of “bottom-up, middle-out” economic development projects designed to advance and accelerate an equitable economic recovery, create good-paying jobs, and build resilient regions across the country.

The New Mexico Economic Development Department released a new strategic plan that identifies core challenges to the state and a multi-part approach to the future. The six challenges include talent attraction, misalignment between higher education and industry, public sector “dominance” of innovation, and concentration in a few industries.

Faculty of the nation’s higher education institutions have long used research publications and citations as a measure of success. A new working paper posted by the National Bureau of Economic Researchers (NBER) suggests a select group of research publications may do more than gain the authors tenure and celebrity in their chosen field: these works are correlated with reductions in local disease-related mortality.

National Apprenticeship Week (NAW) will see its 7th annual celebration from Nov. 15 to 21 this year. Key individuals in areas such as government, industry and education will host events that highlight the importance of apprenticeship in the workforce. These events will showcase how apprenticeship programs can address challenges such as supply chain demands, public health issues, and advancing initiatives in diversity and equity — especially amid the COVID-19 pandemic.

Last week, the Small Business Administration (SBA) announced $100 million in grants for the Community Navigator Pilot Program that will be distributed to 51 organizations to connect entrepreneurs with government resources to help recover from the COVID-19 pandemic.

Earlier this week, the U.S. Economic Development Administration (EDA) announced the phase I winners of the Build Back Better Regional Challenge. Each of the 60 awardees receive $500,000 to support their region and cluster — and begin the process of competing for one of the 20-30 phase II awards that can be up to $100 million each.

Business research and development (R&D) intensity — private sector R&D expenditures as a percentage of total gross domestic product (GDP) — is an indicator of how interested businesses are in creating new products and processes. This edition of Useful Stats expands upon previous SSTI analyses of business R&D and applies the more standardized measure of “R&D intensity” to provide additional context on the private sector’s activities within states.

Yesterday, Treasury released the first clarifications for its State Small Business Credit Initiative (SSBCI) guidance. These frequently asked questions (FAQs) are intended to help states understand the program rules as they prepare their applications by the Feb. 11, 2022 deadline.

Societal stereotypes that depict girls as being less interested in computer science and engineering may be hindering girls from participating in those fields later in life, according to a recent article in the Proceedings of the National Academy of Sciences.

An inaugural report looking at the landscape of capital resources in Arkansas may be useful to others who are interested in examining the capital access in their state or region. The report will serve as a baseline for trends in public, private and philanthropic investments in entrepreneurship across the state and may be a useful resource as the state plans its State Small Business Credit Initiative strategy.

In a move designed to strengthen southwest Pennsylvania’s role in life sciences research, the University of Pittsburgh and Richard King Mellon Foundation last month announced a $100 million gift to help fund a bioresearch and development facility.

Private sector investment into research and development (R&D) is a critical component of innovation, new product development, and regional economic vitality. As a substantial performer and funder of R&D in the United States, the strength of private industry’s R&D activity in a region can provide an indication of the region’s capacity for developing and bringing innovative technologies to market.

The National Institute of Standards and Technology (NIST) has released a Request for Information (RFI) to help guide the development of eight emerging technologies.

While income inequality has increased in many countries over the past 30 years, gathering public support to sustain momentum for reforms that address those inequalities is important, especially in recovering from the pandemic, says a recent report from the Organisation for Economic Cooperation and Development (OECD).

With a 20-year history, the Maryland Technology Development Corporation (TEDCO) is reporting an economic impact in 2021 four times greater than what they experienced in 2013. A new independent study found that its six core programs have provided “significant value” to the state’s start-up community, supporting over 10,000 jobs and more than $2 billion in statewide economic activity as of 2021. Meanwhile, BioCrossroads, a non-profit based in Indianapolis, has reported growth in its life sciences initiatives over the past 15 years.

This week, Congress reached an agreement on the FY 2022 defense authorization bill (i.e. “NDAA”). The legislation includes support for expanding the Defense Innovation Unit’s (DIU) reach, research at minority-serving institutions, and commercialization pilots, as well as a $7 billion increase in research funding. While the NDAA does not provide appropriations, the bill is a strong signal for where the FY 2022 appropriations are likely to land.

The Association of University Technology Managers (AUTM) recently reported findings from its 2020 Licensing Activity Survey. The survey collects self-reported technology transfer activity volumes from universities, hospitals and other non-profit research institutions in the United States. The report highlighted a large increase in the number of patents issued in 2020 relative to 2019, with a growth rate of 15.6 percent. There was less clarity about changes in other metrics, however.