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Funding for TBED Trimmed in NC Budget

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.

States Target Research, Commercialization for Economic Growth

A continued trend toward improved fiscal conditions gave rise to targeted and riskier investments in research for several states this legislative session. In particular, lawmakers dedicated funds for life sciences research and for initiatives aimed at commercialization through partnerships with higher education and the private sector. Other states dedicated additional funds to expand promising research and technology-focused initiatives already underway.

Pennsylvania To Invest $100M in Tech Startups

According to the Philadelphia Business Journal, Pennsylvania Gov. Tom Corbett has signed off on the creation of a new program, InnovatePA, which will auction off $100 million in tax credits to generate state revenue that will be invested in the funding of tech and biotech startups.

IN Gov Releases Details on $360M Bioscience Research Institute

Governor Mike Pence has released details on Indiana's statewide public-private collaborative life sciences partnership. The estimated $360 million Indiana Biosciences Research Institute will receive $25 million for the biennium from the state of Indiana to cover startup costs, which will be augmented by another $25 million from industry and philanthropic sources (see the May 8 issue). Industry partners will guide the institute's research and commercialization priorities, which will focus initially on cardiovascular disease, diabetes, obesity and nutrition. Teams led by research “Indiana Fellows” will share resources at the institute and work onsite at industry and university labs with academic and university scientists. Read the announcement...

Florida Session Ends with Efforts to Expand Tech Commercialization, Elevate Universities

Lawmakers last week passed a $74.5 billion FY14 budget that expands efforts to commercialize research and boosts funds for life sciences and space-related investments. Under a sweeping new education bill, universities can qualify and receive additional resources as preeminent research universities. The measure also designates some higher education funding based on performance, and allows colleges to create low-cost degree programs.

IN Legislature Dedicates $25M to Establish Biosciences Institute, Increases Accountability

With a commitment of $25 million over the next two years to establish a biosciences institute, Indiana lawmakers gave their stamp of approval to a major policy goal touted by Gov. Mike Pence during the campaign. The governor and lawmakers hope to build an endowment of $300 million to $400 million over the next five to seven years drawn from corporate and philanthropic sources. The endowment would fund annual operations of the institute and help recruit world-class scientists with an emphasis on technology commercialization, reports the Indianapolis Business News. Funding for the initiative is part of the Indiana Economic Development Corporation's (IEDC) budget. Earlier this week, the governor signed a bill aimed at increasing transparency in the state's economic development activities. Specifically, the bill requires IEDC to aggregate information on performance goals, jobs created, expected jobs, recaptured incentives and tax credits claimed each year. The 2013-15 biennial budget is available at: http://www.in.gov/legislative/bills/2013/PDF/HE/HE1001.1.pdf.

Report Examines North Carolina's Biotechnology Industry

Commissioned by the North Carolina Biotechnology Center, a study found North Carolina's biotech industry employees almost 58,000 residents at an average annual wage of $78,000. From 2001 to 2010, employment in the state's biotech industry grew by 23.5 percent (approximately 12,000 new jobs) — 3.5 times faster than the national biotech workforce. In comparison, North Carolina's private-sector workforce declined by 2.8 percent in the same period. The report also compares the North Carolina biotechnology industry in comparison to several other leading biotech states including Texas, Florida, California and Maryland. Read the report...

Tech Talkin' Govs: Part V

The fifth installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Connecticut, Illinois, Oklahoma, and Utah. Our first four installments were in the Jan. 9, Jan. 16, Jan. 23 and Jan. 30 issues of the Digest.

Budget RoundUp: States Seek Modest investments for S&T

Governors in several states recently unveiled spending proposals for the upcoming fiscal year or biennium. While fiscal conditions in most states remain fragile, new or continuing investments focused on science, technology and innovation were introduced as pro-growth measures to aid in states' recovery efforts. With the exception of New York Gov. Andrew Cuomo's ambitious economic development plan (see the Jan. 9 issue of the Digest), most of the proposals were on the modest side. They include funding for a life sciences partnership in Indiana, more money for tax credits in Maryland, and additional funds in Nevada and South Dakota for research and commercialization.

Connecticut Governor Proposes Bioscience Innovation Act

In Connecticut, Governor Daniel P. Malloy has proposed a Bioscience Innovation Act, which would create a 10-year $200 million fund to invest in the state's bioscience sector. The proposed fund would be administered by Connecticut Innovations, a quasi-public venture development organization. Governor Malloy's announcement was presented at the headquarters of Jackson Lab, a research and development institute that is being developed with assistance from the state of Connecticut. The Bioscience Innovation Act officially will be released as part of Governor Malloy's legislative package on February 6th.

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