state budget

STEM Education, Skilled Workforce Programs Popular Among State Budget Proposals

This week, governor’s in eight states released their budget proposals. Balanced budgets and fiscal austerity were undoubtedly emphasized by the governors, yet funding for STEM education and workforce development initiatives were increasingly popular.

State Budgets Target Investments in Workforce, Higher Education

As governors around the country begin their newest terms, their proposed budgets are beginning to take shape. Although few governors specifically target technology based economic development, after the first wave of budgets a variety of initiatives related to workforce development and higher education have garnered support. 

As Tuition Rates Rise, State Funding for Public Colleges Decrease, According to GAO Report

Funding for public colleges decreased by 12 percent overall from FY03 to FY12, while tuition rates for all public colleges rose by 55 percent during the same time, according to a new report from the Government Accountability Office (GAO).  Driven in part by the impact of the recent recession on state budgets, the decline in state funding has had a significant impact on college affordability for students and their family. The GAO found that a larger portion of family budgets are going towards helping offset the cost of their children’s college education. In the report, GAO also identified several potential approaches that the federal government could use to expand incentives to states to improve affordability such as creating new grants, providing more consumer information on affordability, or changing federal student aid programs. In addition to the report, GOA also released a web-based interview to share their thoughts and recommendations of how the federal government can help states to address the issue of college affordability. Read the report…

Oregon, North Dakota Budgets Include Funds for TBED

This week, governors in Oregon and North Dakota released their budget proposals for the upcoming budget cycle. Although the budgets differ in both size and scope, education, workforce development, and other programs related to technology-based economic development are set to receive considerable amounts of state funding. 

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

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. Phil Bryant released his fiscal year 2016 (FY16) executive budget recommendations highlighted by a $52 million increase in funding for public education including a $3 million commitment for the Mississippi Works Scholarship Program.

CO, MT Budgets Propose Increased Funding for Infrastructure, Workforce Development

Incumbent governors in Colorado and Montana released their budget proposals this month, with both of the proposed budgets including provisions that prioritize infrastructure spending, workforce development programs, and education. Infrastructure and capital projects in particular were popular among the proposed budgets, with Colorado’s budget allocating $281.6 million to improve technology infrastructure and Montana allocating $300 million for infrastructure, including $45 million to Eastern Montana communities impacted by oil and gas development. Notable provisions within the proposed budgets that are related to economic development are detailed below.

MA Lawmakers Pass Economic Development Bill, Awaits Gov Approval

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. Through the bill, Massachusetts policymakers intend to invest more than $80 million to spur economic growth with a significant emphasis on strengthening Massachusetts’ innovation industries. Tech-based economic development efforts will focus on emerging industries, investments in workforce development and education, and promoting targeted regional growth. A major point of contention, language dealing with non-compete agreements, did not survive in the final bill.

Crowdfunding Exemptions, Tax Credits Among Capital Programs Passed by State Policymakers

This article is part of SSTI's series on trends in state technology-based economic development legislation in 2014. Read our other entries covering legislative action on patent reform, research capacity, technology commercialization & infrastructureworkforce & STEM and manufacturing & clusters.

States Shift Priorities Toward Long-Term Research Capacity Building

This article is part of SSTI's series on trends in state technology-based economic development legislation in 2014. Read our other entries covering legislative action on patent reformcapital & tax credits, technology commercialization & infrastructureworkforce & STEM and manufacturing & clusters.

Lawmakers Tackle Workforce, STEM and Higher Ed Policy

This article is part of SSTI's series on trends in state technology-based economic development legislation in 2014. Read our other entries covering legislative action on patent reform, research capacity, technology commercialization & infrastructure, tax credits & STEM and manufacturing & clusters.

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