SSTI Digest

In support of the state's goal to attract and grow biotechnology companies, Gov. Martin O'Malley's executive budget recommends increasing by $400,000 the state's investment in stem cell research, while maintaining current funding for biotechnology tax credits and slightly increasing the appropriation for the Nanotech Biotechnology Initiative Fund.

Pennsylvania Gov.

Gov. Jim Douglas plans to merge the Vermont Departments of Economic Development and Housing and Community Affairs.

The outcome of Tuesday's election resulted in several wins and some defeats for TBED among the more than 150 ballot measures presented to voters across the nation. Outlined below are the unofficial election results of select ballot measures from each state's respective election office and local media reports as of Wednesday, Nov. 5. More detailed information on the measures is provided in last week's issue of the Digest, which is available at: http://www.ssti.org/Digest/2008/102908.htm#election.

Arkansas
Voters approved 63 percent to 37 percent a constitutional amendment authorizing the General Assembly to establish, operate and regulate state lotteries to fund scholarships and grants for residents enrolled in two- and four-year colleges and universities in the state. Voters also approved a measure to shift the state's budgeting from a two-year cycle to an annual cycle.

While the Presidential election takes center stage on November 4, voters in several states also will cast their votes on statewide ballot issues affecting the TBED community. In addition to the 11 gubernatorial races and more than 5,800 state legislative seats up for grabs, voters across the nation will consider measures to provide funding for public education, expand investment in alternative and renewable energy, lift restrictions on stem-cell research, and eliminate income tax and state spending caps. Following is a summary of selected ballot issues from across the nation.

Funding Public Education

Florida
Florida voters will be asked to amend the state constitution to require that the legislature authorize counties to levy a local option sales tax to supplement funding for public community colleges. Ballot question 8 requires voter approval to levy the tax.

Four recipients selected as best practice models in technology-based economic development were honored during an awards ceremony last week in Cleveland during SSTI's 12th Annual Conference. The awards follow a national competition emphasizing impact and replicability in approaches to building and sustaining tech-based economies.

"A crucial component to growing the nation's economy is supporting programs that are successful in developing and implementing initiatives that create high-paying jobs and provide U.S. businesses with the tools they need to compete in the global economy," said Dan Berglund, SSTI President and CEO. "This year's award recipients have generated significant returns for local, state and regional economies, each having an impressive story to share." 

Technology-focused incubators are an important component to fostering entrepreneurial development in a region by nurturing businesses in the earliest stages of development and helping them grow into larger companies that employ high-wage workers and bring new technologies to the market. The following select announcements provide an overview of new incubators from across the nation, illustrating the vital role of entrepreneurial development in growing high-tech regional economies.