elections

A growing number of states and localities, stymied by conventional budgetary processes, are seeking financial support for economic development initiatives through alternative means, according to a new report from the Brookings Institution. Many regions are instead turning to legislative referendums and citizen-driven ballot initiatives to support large-scale economic initiatives. Authors Jessica A. Lee, Mark Muro and Bruce Katz offer several recent examples of state innovation, education and infrastructure projects funded through ballot measures. The researchers only recommend this approach in cases where traditional funding mechanisms have failed.

In contrast to last week's coverage of the Virginia gubernatorial candidates on issues that affect jobs and the economy, there are little specifics on the topic provided by either New Jersey candidate. Incumbent Gov. Chris Christie has a significant lead in the polls over Democratic challenger and New Jersey State Senator Barbara Buono, but he has offered little in the way of new ideas for economic growth in the next term, instead relying heavily on past accomplishments. Sen. Buono has put forth a jobs and economic security plan outlining support for increased investment in R&D, tax credits targeted to life sciences companies, and encouraging STEM jobs and workers. However, the plan lacks concrete proposals.

Only two states will hold gubernatorial elections this year: New Jersey and Virginia. But those states have garnered a great deal of media attention because of the candidates’ stark policy differences on a wide range of issues, including jobs and the economy. This week, SSTI takes a look at the plans for economic growth and higher education put forth by Virginia Democratic nominee Terry McAuliffe and Republican nominee Ken Cuccinelli.

Congressional elections earlier this week did not change control of the U.S. House of Representatives or Senate, however, science committees in both houses are set for significant turnover, according to the American Association for the Advancement of Science. The House Committee on Science, Space and Technology is slated to lose ten members, one-quarter of its membership, and is expected to gain a new chairperson. No member of the Senate Science, Commerce and Transportation Committee was defeated, but Republican Senators Kay Bailey Hutchison of Texas and Olympia Snowe of Maine are both retiring. Learn more...

Earlier this week, 11 U.S. states (and Puerto Rico) held gubernatorial elections, and 44 states held elections for at least one house of their state legislative body. As a result, five states elected new governors, as did Puerto Rico. Partisan control of state legislatures changed in nine states. The results indicate a growing trend toward state governments unified under a single political party. Only 12 states now have divided state governments, in which one party controls the governorship and the other party controls at least one house in the legislature, according to the National Council of State Legislatures (NCSL). Before the election, a total of 20 state governments were split. NCSL notes that this is the lowest number of split state governments since 1952.

While election night's main focus was on the presidential race, the importance of ballot measures for states and metros is growing as public services and budgets are being severely trimmed. A recent article in The New Republic reports on a new trend where states are embracing ballot measures as a potential source of dedicated funds for targeted investments in regional economic growth and development.

Voters in 37 states will decide on more than 170 ballot measures this year, many of which are related to tech-based economic development (TBED). Tax measures seem to be dominating ballots this year, with questions relating to both decreases and increases for sales, property and income taxes. Several states are counting on voters to agree to temporary increases to help fill budget deficits and ensure steady funding for education.

On November 6, in addition to the presidential election, eleven state and two territorial gubernatorial contests will be decided. Seven of these races (Delaware, Missouri, North Dakota, Puerto Rico, Utah, Vermont, and West Virginia) include a sitting governor running for re-election, while the remaining six (American Samoa, Indiana, Montana, New Hampshire, North Carolina and Washington) are open races.

Though innovation and entrepreneurship was notably absent from Wednesday's presidential debate on domestic policy, presidential candidates Mitt Romney and Barack Obama have acknowledged the importance of technological innovation in stimulating the economy and bolstering U.S. competitive capabilities in the global economy. As can be seen in the candidates' statements and party platforms, President Obama supports a publically driven innovation plan that partners with industry to make strategic investments, while Romney tends to emphasize the necessity of corporate tax and regulatory reform in creating a supportive framework in which private sector innovation can thrive.