SSTI Digest

Imagine you're going into business for yourself. You will become an entrepreneur. Do you think you would stop to consider if you should relocate to a state with lower or even higher taxes before embarking on this venture?  Probably not.   At least that is a way to read the conclusions of a recent research paper published by the Small Business Administration’s Office of Advocacy. The major conclusion of State Tax Policy and Entrepreneurial Activity, prepared by Donald Bruce of the University of Tennessee in Knoxville and John Deskins of Creighton University in Omaha, finds “state tax policy, including both tax rates and the type of taxes in a state’s portfolio, has only a modest effect on aggregate state entrepreneurship rates.”  

A new study of the Maine Technology Institute (MTI) reveals MTI's award programs have been effective in contributing to the success of its awardees and in increasing high-tech employment in the state. The MTI evaluation, conducted by the Center for Business and Economic Research (CBER) at the University of Southern Maine, also found that the success rate of MTI's funded projects improved over the five-year history of the organization. Although the available indicators suggest that MTI is a profitable investment for the state, the CBER report recommends that MTI pursue new methods of tracking its role in high-tech economic development.  

In just under 50 days, more than 4,000 people have gone to SSTI's website to read A Resource Guide for Technology-based Economic Development. The guide provides insights into three of the most important elements of transforming regional economies:

Did your New Year's resolutions involve making a career change? If so and you've yet to fulfill that resolution, visit the SSTI Job Corner at http://www.ssti.org/posting.htm. In addition to the new opportunities described below, the SSTI Job Corner has openings for these positions:

Gov. Martin O'Malley has appointed Clarence Bishop to serve as interim secretary of the Maryland Department of Business and Economic Development, replacing Aris Melissaratos. Mike Blouin has stepped down as director of the Iowa Department of Economic Development to become president of the Greater Dubuque Development Corp.. Tucker Fagan announced he is retiring as CEO of the Wyoming Business Council to join his sons in starting a Wyoming high-tech company. Gov. Eliot Spitzer has named Daniel Gundersen co-chairman of the Empire State Development Corp. in New York.

Gov. Martin O'Malley has appointed Clarence Bishop to serve as interim secretary of the Maryland Department of Business and Economic Development, replacing Aris Melissaratos.

Mike Blouin has stepped down as director of the Iowa Department of Economic Development to become president of the Greater Dubuque Development Corp..

Tucker Fagan announced he is retiring as CEO of the Wyoming Business Council to join his sons in starting a Wyoming high-tech company.

Gov. Eliot Spitzer has named Daniel Gundersen co-chairman of the Empire State Development Corp. in New York.

Gov. John Baldacci has sworn in John Richardson as the new commissioner of the Maine Department of Economic and Community Development.

Chris Roybal announced he is stepping down as senior economic development advisor of the Utah Governor's Office to become president and chief operating officer of the Northwest Research Corp., effective Feb. 2.

With the opportunity presented by a $732 million budget surplus, Gov. Linda Lingle wants Hawai`i to shift its public investment philosophy away from land development and toward encouraging, nurturing and rewarding innovation, creativity, entrepreneurship and risk-taking. Most of Gov. Lingle's State of the State Address on Jan. 22 and her 56-page 2007 Initiatives booklet is dedicated to explaining how she wants the public sector to lead realignment of the state’s economy toward “one fueled by innovation and new ideas generated by our universities and a highly-trained workforce.”   Facing a legislature controlled by Democrats, the Republican governor’s plan embraces several proposals first advanced by legislative leadership last session, including a $100 million Hawai`i Innovation Fund. The privately managed technology-based equity fund would be capitalized from the State Employees Retirement System, under Gov. Lingle’s proposal.  Other proposals include: