SSTI Digest

The Fourth of July might just be a paid holiday for New Jersey's tech-based economic development agency after all. Since Governor James McGreevey released his FY 2004 budget request six months ago, the New Jersey Commission on Science and Technology has been living under a June 30 death sentence. Facing a deficit forecast in excess of $4 billion, the governor had called for the elimination of the $15 million program. The Commission, which has been the state's lead S&T organization since 1985, administers an array of programs that support academic research, technology incubators, business financing, SBIR proposal assistance, and the state's affiliate network for the Manufacturing Extension Partnership. The latest independent analysis, assessing the long-term impact of Commission activities as of 2002, revealed an economic impact of $120 million annually and job creation figures averaging approximately 750 each year. A June 18 article in the Bergen County Record reports the Democratic legislative leaders and the governor have reached a compromise restoring $8 million to the popular…

One of the greatest challenges for university technology transfer offices (TTOs) trying to maximize commercialization of university technologies is convincing faculty researchers to disclose their inventions, according to a new working paper from the National Bureau of Economic Research. Richard Jensen (Notre Dame), Jerry Thursby (Emory University) and Marie Thursby (Georgia Institute of Technology) – the authors of The Disclosure and Licensing of University Inventions – state the "higher quality" or "most productive" faculty are most often the least likely to be bothered with the distraction of pursuing commercialization. The paper presents, as one plausible explanation, the fact 71 percent of university inventions require further research and development in a more applied direction than the original scientist or engineer may wish to expend time and resources. The disclosure process itself is time-consuming and takes many researchers away from their work. As a result, many TTO directors believe the best technologies or hottest prospects remain on the floor or shelves of research…

Kenneth Alfred will become the first executive director for the new Ohio Fuel Cell Coalition. Diane Duff is the new director for the National Governors' Association economic development and commerce committee. Duff formerly was executive director of the Alliance for Rail Competition. Robin Schabes, Chicago Mayor Richard Daley's special assistant for technology, has announced her resignation. Schabes staffed the Mayor's Council on Technology Advisors. Mass Ecomm has changed its name to the New England Business & Technology Association to better reflect its regional nature and broader mission.

Kenneth Alfred will become the first executive director for the new Ohio Fuel Cell Coalition.

Diane Duff is the new director for the National Governors' Association economic development and commerce committee. Duff formerly was executive director of the Alliance for Rail Competition.

Robin Schabes, Chicago Mayor Richard Daley's special assistant for technology, has announced her resignation. Schabes staffed the Mayor's Council on Technology Advisors.

Mass Ecomm has changed its name to the New England Business & Technology Association to better reflect its regional nature and broader mission.

Capital for start-up and early-stage business ventures should become more plentiful in Vermont based on legislation, S. 178, passed in late May. A spokesperson for Governor Jim Douglas appraised the act's total impact as representing a $105 million investment into the state's economy. Injecting more higher risk investment capital into the state's economy had been one of the key economic development priorities for Gov. Douglas during his first legislative cycle. The cornerstone of the Douglas Plan for Prosperity was to recapitalize and expand the financing mechanisms offered by the Vermont Economic Development Authority, the state's commercial and agricultural low-interest lending agency. S. 178 raises the state's commitment to the fund from $25 million to $70 million. The legislation also enacts new tax credits and amendments to encourage angel investment and development of sustainable energy technologies, including: a sustainable technology R&D tax credit against a small corporation's income tax liability of up to 30 percent of qualified sustainable energy R&D expenditures…

On Tuesday, voters in Maine approved Governor John Baldacci's request to issue $60 million in bonds to finance several research infrastructure, economic development and housing related projects. Packaged and marketed as the Jobs Bond, the measure won easily with 60 percent of the vote in this special election. The tech-based economic development portion of the bond will be allocated as follows: $20 million to re-capitalize the Maine Biomedical Research Fund, managed by the Department of Economic and Community Development, and used at five nonprofit research facilities in the state. $3 million to design and construct the Gulf of Maine Research Laboratory to partner with the fishing community on marine research to protect and enhance the commercial fishery of the Gulf of Maine, to partner with the marine biotechnology industry to undertake marine biotechnology research, and to develop and make available an innovative marine sciences education hall focused on middle and secondary school students and the general public. $2 million for infrastructure improvements at four…

The U.S. Department of Agriculture (USDA) recently announced the selection of 97 loan and grant recipients in 24 states that will receive $20.1 million in rural business development funds. The loans and grants are expected to assist in creating or saving nearly 10,000 rural jobs and supports 772 business ventures as part of the Bush Administration's efforts to spur economic development in rural areas. Administered through USDA Rural Development, the grants and loans are awarded to local organizations which in turn use the funds for a variety of purposes, including revolving business loan funds, studies, technical assistance, community facilities, improving medical care and communications, and other projects to stimulate jobs and growth. Many of the awards are made in conjunction with assistance from other sources, leveraging USDA funds for greater effect. The assistance includes Rural Business Enterprise Grants, Rural Business Opportunity Grants, Rural Economic Development Loans and Grants and Rural Business Enterprise & Television Demonstration Grants. The recipients are more than…

Following extensive public consultation, the French Ministry for Industry and Research has announced a revamped national strategy to boost support for research and development (R&D) activities in France. The plan, to be implemented in 2004, aims to make financial resources for innovative companies more accessible and to increase France’s appeal to the international R&D community. Some of the key measures include: Single-shareholder venture capital companies. A new status for innovative start-ups and single-shareholder venture capital companies will allow newly created companies to recruit dedicated research staff at reduced costs. Small-to-medium-sized innovative start-ups. Companies with R&D projects established in France for less than eight years will be partially exempt from social charges and business tax for investment in research, and eligible for increased tax reductions. Increased tax reductions. These will be offered annually to all companies with investments in research. Continuation of research tax credit. The highly competitive Research Tax…

In 2003, the nation's 20 top metropolitan areas will generate $4 trillion in output, or 36 percent of the national economy, according to a new report by the U.S. Conference of Mayors and the Conference’s Council for Investment in the New American City. However, overall employment growth this year is predicted to be 0.1 percent in those same metro areas, with nine experiencing either no job growth or continued employment contraction. The Role of Metro Areas in the US Economy: Employment Outlook reports the nation's 319 metro areas lost nearly 1.01 million jobs in 2001 and 2002, three times the job loss outlined in preliminary government estimates in January. The projected job growth rate of 0.1 percent for 2003 represents a significant downward revision from the January report, which predicted the rate to be 0.9 percent. The unemployment rate is unlikely to decline until jobs grow at an annual rate of 1 percent – predicted to occur this year in only Phoenix-Mesa (1.6 percent) and San Diego (1 percent) – the report states. Of the top 20 U.S. metro areas, those with the predicted…