• As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies.  Learn more about membership...

SSTI Digest

Geography: New York

NY S&T Office to Become Public Foundation

New York's lead agency for promoting tech-based economic development (TBED) in the state soon will have a new name, if not a complete makeover. Under enacted budget legislation, the New York Office of Science, Technology and Academic Research (NYSTAR) will become the New York State Foundation for Science, Technology and Innovation by Jan. 1, 2006.

Assembly Bill 6843, the state's 2006 budget, provides $250 million for the new public authority "to fulfill the public purposes of furthering job creation and economic growth and advances in the fields of science, technology and innovation and to facilitate the commercialization of scientific and other innovations in New York State." A 13-member board comprised of public and private representatives will oversee the foundation, directing all existing NYSTAR programs, a new regional partnership program, and two new funds.

New York Budget Calls for New Oversight of Empire Zones

New York's Empire Zones Program dodged a veto from Gov. George Pataki as an agreement was met with the legislature to restructure the program. The state budget, signed into law last week, extends the program and allows for an additional 12 zones to be created throughout the state.

Under the agreement with the legislature, Gov. Pataki will give up some control of the administration of the program to a new board, which will oversee creation of the new zones and rule on boundary issues for all existing zones, according to an article in the New York Times. The new board will consist of a panel of representatives appointed by the legislature and the governor.

TBED Organizations & People Update

Craig Watters is serving as interim director of the Falcone Center for Entrepreneurship at Syracuse University. Past director Nola Miyasaki has relocated to Hawaii to join a biotech company.

People

George "Mick" Stadler is the new CEO for the incubator at the Rochester Institute of Technology.

People

Michael Relyea was named deputy executive director of the New York State Office of Science and Technology Academic Research.

People

The Piedmont Triad Entrepreneurial Network recently selected Lisa Blakely, a former Bank of America executive, as its CEO.

ASME Seeks Project Manager

ASME is seeking a Project Manager responsible for the research, planning, launch and growth of strategic initiatives in the areas of industry relations/corporate services and young engineers. The individual will play a key role in the project management of strategic initiatives to help meet the priority objectives of the ASME Board of Governors. Responsibilities will include business development and business planning; project management, including developing systems and processes necessary for the tracking and execution of strategic initiatives; management of project teams; and initiating, managing and maintaining relevant customer and outsourcing relationships. Qualifications include a Master's degree or equivalent (MBA preferred), and a minimum of five years relevant experience, association experience preferred. Please email, or fax resume which must include salary requirements to: email: meolal@asme.org Fax: 973.575.5484.

New York CATs to Keep State Competitive after Decennial Re-compete

One of the recurring issues in many states for financing centers as part of their tech-based economic development portfolio is whether or not the organizations resulting from the multi-year, multimillion grants should become financially self sufficient at the end of the grant term. New York's approach of redesignating its Centers for Advanced Technology (CATs) provides a model similar to efforts employed in some states, but with broader applicability across many public-private initiatives to ensure long term, recurring public investments are yielding significant economic results.

Mandatory re-competitions through sunset clauses or grant terms force all of the partners in a particular tech-based economic development initiative to re-evaluate the program's continued value and effectiveness.

Competing ED Proposals in New York Share Same Goal

Although their courses of action may differ, competing proposals sponsored by the New York State Senate and Assembly would seem to have the same goal — create jobs, support small businesses, and transform the state's manufacturing sector.

Representing one side is Senate Majority Leader Joseph Bruno (R-Raymond), whose proposal would create the Excell-NY initiative. Bruno established the NexGen task force in December 2003 to provide recommendations for sustained job creation and economic growth, and Excell-NY resulted. The success of previous economic development programs such as JOBS 2000, Gen*NY*sis and NYSTAR led to the new initiative.

People

Andrea Lohneiss, community development director for Riverhead, N.Y., is leaving to become Suffolk County's commissioner of economic development.

People

Dr. Russell Bessette has been appointed to the Federal Homeland Security Science and Technology Committee. Dr. Bessette currently is the executive director of the New York Office of Science, Technology and Academic Research (NYSTAR).

Rochester Gains $15M VC Fund as Kodak Slashes Workforce

Nearly every region engaged in building a tech-based economy wants more access to seed and venture capital money. It's particularly useful when your largest employer announces it will lay off up to 23 percent of its workforce – as many as 5,000 people in your community and 15,000 across the globe – during the next three years.

The generous but bittersweet offer came from Eastman Kodak Company last week as it announced the creation of a $15 million economic development fund designed to promote business development and job creation in the greater Rochester region. Kodak currently employs more than 20,000 people in Rochester, a third of its total employment of 64,000 worldwide in 2003.