SSTI Digest

Maine Governor John Baldacci got nearly everything he wanted in a bond proposal to encourage technology-based economic development (TBED). The Maine legislature shaved $10 million from the Governor's original request before passing the bond on to Maine voters for consideration at a special referendum June 10. The bond proposal includes:

The Department of Housing and Urban Development (HUD) has notified its partners more than $2.3 billion is available in the FY 2003 SuperNOFA (Notification of Funding Availability), including 43 separate funding opportunities for local units of government and nonprofit faith-based and community organizations. This year's application process ultimately will result in $1.822 billion in targeted housing and homeless assistance, $241 million in community development funding, and $231 million in economic development. Several opportunities of interest to the technology-based economic development (TBED) community are listed below.

Venture-backed women-led enterprises are moving well beyond start-up stages of corporate formation to revenue generation, and almost 20 percent report profitability, according to Springboard Enterprises, whose program for women entrepreneurs has helped raise $1.76 billion in equity capital for women-led companies.

Since Springboard's launch in 2000, 250 women CEOs and founders have participated in the nonprofit organization's pioneering venture programs for women entrepreneurs. Almost 200 of the 250 companies that have presented at Springboard Venture Forums continue to grow, and 97 have raised more than $1 billion in venture capital following their participation in a Springboard Forum.

A strategic plan issued in 2002 by the Fifth Planning District Regional Alliance in Virginia may officially have completed the first phase when the Alliance recently awarded $273,342 in grants and earmarked funds.

The Alliance, a group of government, business and educational leaders, promotes economic competitiveness in a Virginia region comprised of Alleghany, Botetourt, Craig, Franklin and Roanoke counties and five other town cities and towns. Its plan, Regional Economic Strategy, was released last July as an economic development strategy focusing heavily on science and technology-based initiatives (see the August 9, 2002 issue of the Digest).

For the 2003 program year, the Alliance's 41-member board of directors distributed funding to four projects:

Gov. Bill Richardson has appointed his chief of staff, David Harris, to serve as executive director of the New Mexico Finance Authority.

Idaho Falls businessman LaMoyne Hyde was appointed by Gov. Dirk Kempthorne to serve as Director of the Idaho Department of Commerce.

Gov. James McGreevey recently appointed Alfred Koeppe as the new Chairman of the Economic Development Authority of New Jersey.

Frank Shafroth has left his position as lobbyist for the National Governors' Association.

Bill Todd, former CEO of the Georgia Research Alliance, has joined the staff of Gov. Sonny Perdue to work on special projects.

Gov. Bill Richardson has appointed his chief of staff, David Harris, to serve as executive director of the New Mexico Finance Authority.

Idaho Falls businessman LaMoyne Hyde was appointed by Gov. Dirk Kempthorne to serve as Director of the Idaho Department of Commerce.

Gov. James McGreevey recently appointed Alfred Koeppe as the new Chairman of the Economic Development Authority of New Jersey.

Frank Shafroth has left his position as lobbyist for the National Governors' Association.

Bill Todd, former CEO of the Georgia Research Alliance, has joined the staff of Gov. Sonny Perdue to work on special projects.

Patrick Von Bargen has joined the leadership team in the Office of the Chairman at the U.S. Securities and Exchange Commission as Managing Executive for Policy and Staff. Mr. Von Bargen formerly was Executive Director of the National Center for Regional Innovation and Competitiveness and Vice President of the Council on Competitiveness.

A Note from the Editor

Don't panic, Mother's Day is still 10 days off. You haven't missed the opportunity to reflect on the contributions she made in your life. Most mothers, at least the good ones, try to instill some basic traits in their children that are critical for the growth and improvement of a better society. Honesty, integrity, respect, consideration, compassion, modesty, and responsibility leap to mind. Remember those struggles as a kid when you knew the right thing to do but didn't want to do it? Like, I remember my mom making me shovel the snow for the old lady who lived alone down the street for free when the rest of the gang were building forts for the best snowball fight of the blizzard of `78. My back ached as I walked up the street — just in time to be pelted by a barrage of snowballs from my buddies.