SSTI Digest

In light of major economic changes due to technological transformation, increased globalization, and changing demographics over recent years, and the resulting effects of rising workforce insecurity, the Office of Workforce Security in the Employment and Training Administration of the U.S. Department of Labor (DOL), will hold its first national research conference. 



The conference will focus on issues related to impacts, trends, and challenges of the macro-economy to workforce development, the significance of recent changes in workforce development, workforce competitiveness in global economy, workforce security in the New economy, and major policy options to promote economic opportunities for the workforce. 

The Office of Technology in the Utah Department of Community and Economic Development seeks an Assistant Director for the Centers of Excellence Program. The position's responsibilities include promoting the development of new and established Centers that will assist the state economy to expand in focused technology areas. Deadline for application is February 23, 2001. More information on this and additional career opportunities in tech-based economic development can be found at the S&T Job Corner: http://www.ssti.org/posting.htm 

Two new programs from the U.S. Small Business Administration are designed to infuse new capital into economically disadvantaged rural and inner city areas and strengthen existing businesses through technical expertise and mentoring.



The New Markets Venture Capital program (NMVC) is anticipated to spur as much as $15 billion in economic development in distressed areas, while BusinessLINC (Learning, Investment, Networking and Collaboration) is designed to assist small firms by providing access to technical assistance, business advice, market knowledge and contracting opportunities that come from relationships with larger companies.

Editor's Note: The fifth installment in our review of the Governors' inaugural addresses, state of the state addresses, and budget messages for 2001. The first four articles in the series were over the past four weeks. Those issues of the SSTI Weekly Digest and all other previous editions are available on our website: http://www.ssti.org/Digest/2001/headlines01.htm

Massachusetts

Governor Argeo Paul Cellucci, Budget Recommendations, FY 2002, January 24, 2001

http://www.state.ma.us/bb/fy2002h1/default.htm

With President Bush announcing the creation of the White House Office of Faith-Based and Community Initiatives, some analysts and practitioners are pondering the implications for economic local and state development efforts.

Do faith-based organizations have a role in ED?

One doesn’t have to look too far for evidence that some faith-based groups already are actively supporting the push for local tech-based ED. The National Congress for Community Economic Development’s 1998 national census of community development corporations (CDCs) shows 14 percent (about 500) of all CDCs across the country identified themselves as "faith-based organizations." The NCCED provides resources and support for faith-based economic development efforts. The website is http://www.ncced.org

There is so much happening in state and local tech-based economic development across the country that we’re adding a new Digest feature: the Regional Roundup. Our goal is to provide 1-2 sentence coverage of news stories, reports and resources demonstrating the variety of activities underway to build a stronger tech-based economy. Of course, whenever possible, we’ll include a link or contact for more information.

It is widely argued in the tech-based economic development community that New Economy businesses, specifically computers and information technology, account for the tremendous economic growth of the last half of the 1990s. But does the data support this?

Many tech-based economic development programs recognize the importance of having seed and venture capital accessible to their start up tech firms and entrepreneurs. Some practitioners, though, see a challenge in encouraging equity investment in more conservative, risk adverse regions and localities. The dot-com “correction” of last year probably did not help.

Accurate estimates of the average return on venture capital investment (VC) may help to open the purse strings of hesitant angel and seed funding sources. But what is a valid estimate of the return on individual venture capital investments?

Obtaining an answer to that question has not been easy in the past. In the new working paper, The Risk and Return of Venture Capital, John Cochrane, Professor of Finance with the Graduate School of Business of the University of Chicago, takes on the issue.

Addressing the Digital Divide, workforce development, and technology deployment in education are among the highest priorities of the nation’s mayors, according to Priorities for the New American City, the 2001 action agenda of the U.S. Conference of Mayors.

Released last week at the Mayors’ 69th Annual Winter Meeting by Boise Mayor H. Brent Coles, the plan outlines dozens of recommendations for the Bush Administration across ten issue areas ranging from drug control to the environment to transportation enhancements.  Many of the suggestions requiring federal funding encourage the use of block grants to maximize flexibility in program design and implementation across cities.

Key recommendations for tech-based economic development include:

With as much emphasis on accessing and applying technology as on creating it, the final report of the Arizona Partnership for the New Economy (APNE) outlines several recommendations to improve Arizona’s position and performance in a tech-based economy.

“While it is important to have industries that produce technology and continually improve it, the real impact of [the new economy] will be felt by the application of technology across a wide range of industries and activities,” says the 36-member task force appointed by Governor Jane Dee Hull.

Editor's Note: This is the fourth installment of excerpts from recent speeches and budget proposals demonstrating the priority governors are placing on tech-based economic development and math & science education.

Maine

Governor Angus King, FY 02-03 Budget Request, January 5, 2001

http://www.state.me.us/governor/news/index.html

The Economic Development Administration (EDA) seeks nominations for the second annual Award for Excellence in Economic Development. EDA established this award to recognize outstanding economic development activities of national importance.

The competition is open to all types of nonprofit organizations, nonfederal government bodies, and universities and colleges. Award selections are made by a highly qualified and independent panel of economic development practitioners, academics, and government representatives.

Nominations will be taken until February 16, 2001 in three categories: Excellence in Urban or Suburban Economic Development; Excellence in Rural Economic Development; and, Excellence in Economic Development in Native Communities.