state budget

Georgia Lawmakers Pass Measure to Enhance Tax Credits, Boost Research Funding

Lawmakers last month approved a $19.3 billion state budget for FY13, which includes funding for many of the recommendations from a task force convened by Gov. Nathan Deal to enhance the state's innovation economy. Specifically, the budget boosts funding for the Georgia Research Alliance (GRA) to recruit researchers and allocates $5 million for cancer-related research. The legislature also passed a measure expanding the Georgia Jobs tax credits and R&D tax credit.

Additional Higher Ed Funding to Support Research, STEM Efforts in Virginia

To help meet the goals of Virginia's Top Jobs Act enacted earlier this year, Gov. Bob McDonnell proposed $200 million in additional higher education funding over the next two years. A large portion of the new funds would support cancer and high-tech research, competitive research grant awards, and efforts to graduate more science, technology, engineering, mathematics and healthcare (STEM-H) majors. The Top Jobs Act outlines a plan for achieving an additional 100,000 undergraduate degrees over the next 15 years through a new higher education funding policy, targeted economic and innovation incentives, and the creation of a STEM public-private partnership. In accordance with the legislation, the state's colleges and universities completed six-year plans identifying initiatives to help meet those objectives.

Wyoming Gov Proposes Tech-Related Business Funding Expansion

To bring more tech-related companies and jobs to Wyoming, Gov. Matt Mead's budget request for the new biennium adds $15 million to broaden an existing fund established last year for the recruitment of mega data centers. If approved by the legislature, the state would make available $30 million for both large-scale recruitment and to attract smaller technology companies. Anticipating flat growth over the next two years, the budget for 2013-14 proposes a slight reduction in ongoing spending from last biennium. However, the governor recommends expanding an appropriation for data center recruitment to provide the state with more opportunity to attract large-scale high technology opportunities and jobs. In February, Gov. Mead signed a measure providing tax incentives for construction of data centers.

Legislators in GA, KY Push Capital Measures in Upcoming Sessions

Lawmakers and technology industry leaders in Georgia and Kentucky are hoping to establish capital programs during the 2012 legislative sessions in an effort to support new business creation and remain competitive with states already offering lucrative incentives.

CO Governor Accelerates Regional Jobs Plan, Calls for More Economic Development Funds

Just three months after unveiling a statewide regional economic development plan, Gov. John Hickenlooper released a new version of the document that speeds up timelines and adds more specific measurable outcomes to the plan's 24 job creation strategies. The governor also submitted a budget proposal for FY13 that calls for additional funds to help the Economic Development Commission attract high-wage jobs and support initiatives that address distinct market barriers in the energy sector.

WA Gov's $9.8M Workforce Plan Supports University Research, Engineering Grads

Gov. Chris Gregoire outlined a series of proposals to boost Washington's competitiveness in the aerospace sector, including support for university research and funding to expand high school workforce curriculum and enroll more university students in engineering fields. By investing in education, research, and expanding tax incentives, Gov. Gregoire hopes Boeing will select the state to build and manufacture its 737 MAX, which the governor calls a once-in-a-generation opportunity expected to support up to 20,000 jobs. The $9.8 million plan centers on enhancements to the state's education system to ensure a prepared and skilled workforce. Proposals include:

Details Emerge on How New York's Regional Councils will Operate

The 10 regional councils established earlier this year to stimulate economic development and improve the business climate statewide are tasked with five primary responsibilities, and can compete for funding from a pool of $1 billion to support projects they determine to be a part of their regional strategy. Gov. Andrew Cuomo recently unveiled a blueprint for how the councils will operate with information regarding resource allocation, structure and leadership, and performance measurement.

Economic Development Programs Consolidated in PA Budget

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.

FL Legislature Creates New Department of Economic Opportunity

Florida lawmakers approved legislation to reorganize economic development efforts by establishing a new government-run agency to coordinate programs and adding divisions to the public-private partnership, Enterprise Florida. Within the newly created Department of Economic Opportunity, lawmakers established a trust fund and approved $125 million for strategic investments.

Centers of Excellence, Entrepreneurship Grants Funded in North Dakota Budget

Lawmakers last week passed the 2011-13 biennial budget, providing $12 million for the state's Centers of Research Excellence program. Although it is less than Gov. Jack Dalrymple's request of $20 million to expand the program and provide additional funding for three new centers, the legislature's appropriation will allow for continued investments in infrastructure and research capacity at a time when many states are reducing funding for TBED to help fill budget deficits. The approved budget also includes $1 million for technology-based entrepreneurship grants and establishes a program to provide matching grants for startup technology businesses.

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