SSTI Digest

In 2012, Big Data has become one of the hottest topics in the news and the minds of both government and business leaders. Big Data is the collection and analysis of data that is too big, growing too fast or is too complex for existing information technology systems to handle. Proponents believe that Big Data provides business, government and other organizations (e.g., nonprofit and social enterprises) the potential to generate high quality insight that enable better decision making, increase productivity, reduce inefficiencies, create new products and services and spur economic growth. In an OPED for informationweek.com, Jonathan Feldman contends existing Big Data projects already are creating social and economic value for business firms and regions, including now-ubiquitous projects such as Google Maps.

As a part of its Compendium of Evidence on the Effectiveness of Innovation Policy intervention, the Manchester Institute of Innovation Research released a report entitled Fiscal Incentives for Business R&D. The authors advocate how a fiscal incentive for R&D, particularly a tax credit, can be a "flexible instrument that can foster the connectivity within a national innovation system."

When considering the construction or retooling of an R&D tax incentive, policymakers must consider the general purpose of the incentive, who it is meant to benefit and target, what to do with unused claims and other aspects of incentive's design. The authors created a typology based on former and current innovation policies in various countries throughout the world, particularly in Europe. The report outlines the various design features policymakers must consider when designing and implementing an R&D tax credit.

At SSTI's 16th Annual Conference, you will have the opportunity to explore comprehensive, flexible programs and innovative, "lean" models to support and cultivate faculty entrepreneurs. Join National Science Foundation's Rathindra "Babu" DasGupta, the University of North Carolina's Judith Cone and Marnie LaVigne from the University at Buffalo as they discuss what universities need to do to create a class of Faculty CEOs. Learn more about this session...

In an effort to develop domestic renewable energy production, the Department of the Interior released details on the Solar Programmatic Environmental Impact Statement (PEIS). PEIS provides an outline for utility-scale solar energy development in six states — Arizona, California, Colorado, Nevada, New Mexico and Utah.

The statement creates 17 Solar Energy Zones across those states, which comprise 285,000 acres of public land with the potential for future land additions. At capacity, nearly 24,000 megawatts of energy could be produced, powering 7 million houses. In addition, 19 million acres of additional land was noted for possible solar energy development outside of the Solar Energy Zones, as well as a process for mitigation, and the exclusion of nearly 80 million acres from the project for the protection of natural and cultural sites.

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Unless Congress and the White House take action by the end of the year, across-the-board spending reductions will go into effect for all federal agencies as a result of provisions in the Budget Control Act of 2011. The budget sequestration would reduce defense discretionary funding by 9.4 percent and non-defense funding by 8.2 percent from the 2011 baseline. Though the Office of Management and Budget (OMB) report outlining these reductions does not provide details by program, research and economic development spending could be affected disproportionately, since, in many agencies, these programs are supported through discretionary spending.

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.

SSTI has broken the ballot measures down by topic area, including Economic Development Incentives, Energy, Higher Education and Capital Bonds, Statehood and Taxes.

Economic Development Incentives
Two states, Alabama and South Dakota, will pose to voters a question regarding more state authority to dole out economic development incentives for job creation by recruiting larger projects or encouraging businesses to expand.

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.

Of the races involving incumbents, four are a Democratic governors being challenged, while three sitting Republican governors are up for re-election — two of them for a full term after completing the terms of the previous governors who left for other positions.

Five of the open races are a contest for a seat being vacated by a Democrat, while only one is currently held by a Republican.

SSTI took a look at the TBED platforms of the candidates for governor.

Delaware

There are only six days left before early registration ends on Monday, October 8. Register today and save at least $100 per registration. This year we are offering two full days of conference activities including 16 breakout sessions, four session tracks, three workshops and two networking receptions. Find out more at: ssticonference.org.

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.

The White House announced the Make it in America Challenge, a $40 million multi-agency initiative to help regions across the country provide the critical infrastructure, strategic planning, capacity building, technical assistance and workforce development resources necessary to foster insourcing by U.S. firms. Led by the Economic Development Administration, an interagency panel will make up to 16 awards to projects that encourage businesses to bring production back to or expand their operations in the United States. A federal funding opportunity for the Make it in America Challenge will be announced by the start of 2013 to provide detailed guidelines and deadlines for for applications. Visit the challenge website...

A culmination of twelve months of data measuring the Illinois innovation economy finds improved economic growth in four sectors: dynamism, capital, talent, and business climate. Positive indicators include record growth in university startups and a significant increase in invention disclosures and patents awarded to Illinois universities. Additionally, venture capital funding reached a ten-year high of $1.4 billion in 2012. The state also recognizes room for improvement, including increasing the number of STEM degrees awarded to Illinois graduates and better aligning workforce skills with labor market demands. The report and accompanying video will be unveiled today at: http://www.illinoisinnovation.com/innovationindex/.

The Department of Commerce announced the winners of the Strong Cities, Strong Communities (SC2) Challenge, the Economic Development Administration-led competition seeking to help cities and regions develop a comprehensive economic development strategy. Greensboro, North Carolina, Hartford, Connecticut, and Las Vegas, Nevada each were awarded $1 million to assist in the refinement and implementation of their respective plans. This year's competition follows on the success of a 2011 pilot program, which made awards to six cities, and a Presidential Executive Order signed in March establishing the White House Council on Strong Cites, Strong Communities.