SSTI Digest

Ted McAleer has resigned as executive director of USTAR. Also Gary Herbert has announced the appointment of former Lt. Gov. Greg Bell as chair of the USTAR Governing Authority. Bell, now president and CEO of the Utah Hospital Association, takes the place of outgoing chair Dinesh Patel.

Martha Connolly has been named director of bioentrepreneurship, a new program supported by the Maryland Technology Enterprise Institute (Mtech) and the A. James Clark School of Engineering.

Matthew Nemerson, president of the Connecticut Technology Council for the past decade announced he has taken a new position as Mayor Toni Harps’ economic development director in New Haven.

Following a national economic development trend toward regionalism, governors in Iowa and Nebraska announced a partnership to provide more investment and talent opportunities for area businesses, and increased exposure for the region. Under the multi-county collaboration, Advance Southwest Iowa will join the Greater Omaha Economic Development Partnership. The group plans to implement a five-year regional economic development program focused on establishing a recognized brand and image for the region, growing and recruiting businesses, and retaining a trained workforce. The partnership is funded by public and private investors throughout the region, according to a news release.  

During this year’s legislative sessions, several states looked toward creating, providing support for or redesigning programs that help incentivize businesses to hire and mentor student interns. In an effort to spur rural internships, Minnesota lawmakers approved a new tax credit program to support internships for students in greater Minnesota. In North Dakota, lawmakers committed $1.5 million to their Operation Intern program, while Nebraska lawmakers updated their Intern Nebraska grant program to provide students with a high-quality internship experience. Rhode Island Gov. Lincoln Chafee signed a bill that will allow high school students (16 years and older) to engage in pre-apprenticeship, apprenticeship and internship experiences during school hours in approved manufacturing career and technical programs.

Measuring impact is critical to the success and sustainability of any economic development initiative, and as the national debate over fiscal austerity and taxpayer spending continues, TBED organizations can expect increased scrutiny and accountability for their investments.

Amid growing skepticism from the public, lawmakers increasingly struggle with finding a balance for funding new efforts that may take awhile to pay off with more pressing state needs. This year, measures to encourage the creation or expansion of high-growth companies through the use of tax incentives have been unveiled in several states. At the same time, lawmakers in some states are pushing for greater disclosure requirements through transparency measures. SSTI has compiled pending and recently approved legislation below.

The second installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Colorado, Nebraska, Nevada, Rhode Island, South Dakota, Vermont, Washington, and Wisconsin. Our first installment was in the Jan. 9 Digest.

Colorado
Gov. John Hickenlooper, State of the State Address, Jan. 10, 2013

“We also ask that you pass House Bill 1 ... bipartisan legislation that will support ‘advanced industries’ in Colorado. ...

“... The second annual COIN Summit, hosted by the Colorado Innovation Network, will take place in August. We will convene national and international stakeholders to discuss technology, workforce development, higher education and our state's brand”

As many states near the mid-point of their 2012 legislative sessions, we thought it would be a good time to take a look at some of the bills advancing in statehouses that could impact states' efforts to improve economic conditions. Several states are seeking to advance access to capital initiatives as they continue to struggle with declining revenue and tight credit restrictions. The following overview provides a sampling of TBED bills supporting access to capital, R&D enhancements and higher education standards.

Providing Access to Capital

The Arizona Senate approved last month a bill to empower the state to facilitate $250 million in loans to manufacturers and other businesses by allowing third parties to sell income and insurance premium tax credits to venture capital firms, banks and other lenders, reports The Arizona Capitol Times. Supporters say the program, which has been employed at the federal level over the last decade under the New Markets structure, has been adopted successfully by nine other states. The measure awaits action in the House.

Jeffrey Brancato has recently joined NorTech as vice president. Prior to joining NorTech, Brancato was the associate vice president for Economic Development at the University of Massachusetts.

Randal Charlton has announced his retirement as executive director of TechTown, the Wayne State University research and technology park. Leslie Smith, the general manager of TechTown has been appointed to fill the position beginning Nov. 1.

Martin Briley has been named CEO and president of the Virginia Economic Development Partnership. Since 1997, Briley has been executive director of the Prince William County Department of Economic Development.

Richard Baier, Nebraska's Department of Economic Development director plans to step down at the end of Oct. to take an executive-level position with the Nebraska Chamber of Commerce.

As budgets for economic development tighten across all sectors, measuring and reporting impact becomes even more crucial for sustaining support. The Association of University Research Parks points to three impressive impact reports released this year from Indiana's Purdue Research Park, Nebraska Technology Park and North Dakota State University Research and Technology Park.

The Purdue study found the park network is responsible for a $1.3 billion annual impact for the state and more than 4,000 high-quality jobs paying an average annual salary that is 65 percent higher than the state's average. In Nebraska, researchers found the University of Nebraska Technology Park has an estimated $589.6 million annual impact on the state's economy, and North Dakota State University Research and Technology Park generates $10.9 million annually for local and state governments.

SSTI has compiled below recent announcements for development of tech parks from states including Alabama, Connecticut, Florida, Maryland, South Carolina, and West Virginia.

Job Corner
The Invest Nebraska Corporation is hiring a CEO to join their team in Lincoln, NE. The CEO will manage Invest Nebraska's programs throughout the State of Nebraska. Invest Nebraska Corporation is a private, nonprofit venture development organization focused on developing high-growth companies in Nebraska and growing the state's economy.

Baylor University currently is accepting applications for the position of director, BRIC Innovative Business Accelerator. The Baylor Research and Innovation Collaborative is a 300,000-square-feet facility housing university and industry collaborative research, advanced manufacturing and high technology workforce development, symposia meeting and conferencing space, and the business incubator. The BIBA director will manage university and external business support organizations to leverage business start-up competitive status

Gov. Dave Heineman's proposal to support innovation, research and product development in Nebraska's small businesses and institutions of higher education was passed with unanimous support in the legislature. Lawmakers also approved an angel tax credit for investments in high-tech companies and a measure to create an internship program matching college students with businesses as part of the governor's Talent and Innovation Agenda (see the Jan. 19, 2011 issue of the Digest).

The Business Innovation Act (LB 387) includes $7 million each year for grants to small businesses for the following activities:

Included below are recent development plans and groundbreaking news for research parks announced by officials in Connecticut, Colorado, Kentucky, Massachusetts, Nebraska, North Carolina, Rhode Island and Wisconsin.

Lawmakers last week advanced a bill to provide $25 million for a new research park at the University of Nebraska-Lincoln as part of the Innovation Campus. The Innovation Campus includes a life sciences research center and a U.S. Department of Agriculture Research facility, reports Bloomberg.

University of Connecticut officials announced a plan to build an $18 million tech park financed with state bonds. The tech park will house large, flexible-use laboratories with specialized equipment for research and will provide space for business incubators and individual companies. The plan also includes $2.5 million in state funds to create the Innovation Partners Eminent Faculty program designed to attract top scientists.

Proposals that promise job creation and economic growth have taken center stage in several state legislatures. Lawmakers who recognize the importance of R&D, tech commercialization, access to risk capital, and investment in higher education are fighting for passage of TBED-focused bills in the final months of their states' 2011 legislative sessions. A bill to revive the Missouri Science and Innovation Reinvestment Act, which failed in the legislature last year, recently passed the House with broad, bi-partisan support, restoring hope for the program that aims to grow science and technology companies. Meanwhile, two bills in Connecticut seek to boost technology transfer and lawmakers in Alaska and Florida are pushing for statewide R&D tax credits. An overview of select bills relating to TBED is included below.