SSTI Digest

NJCST Out, Cancer Research In Tight fiscal times are the norm for state and local governments across the country. While the federal government can ponder record-busting deficits for FY 2004, declining revenues are forcing state leaders to take scalpels, knives, axes and in some cases even chain saws to their budgets. Most budget proposals for 2004 include some sort of revenue enhancement measures – new taxes, eliminating loopholes and credits, increasing user and service fees – but none of the states are relying completely on increasing revenues to deal with their shortfalls. There are also spending reductions. Budget cuts also can provide a glimpse of a governor's core priorities and the political clout of particular constituencies. What stays in or is spared the deepest cuts can be revealing. The 2004 budget cycle in New Jersey, which got underway February 4 with Governor James McGreevey's budget address, provides an example. Facing a projected $5 billion deficit, Gov. McGreevey spent much of his address to the New Jersey legislature outlining a budget request that "contains cuts I…

Two separate news stories covering different New Jersey's technology-based economic development initiatives may give one of the first peeks at Governor James McGreevey's plans for science & technology in the Garden State. The online edition of the Small Times reports Gov. McGreevey committed $2 million from the state's FY 2003 budget to support the New Jersey Nanotechnology Consortium, a new $12 million public-private research initiative based at donated Lucent research facilities. According to the article, $6 million of the additional funding is to come in the form of earmarks on the appropriations bills for the Department of Defense and National Science Foundation. The article is available at: http://www.smalltimes.com/print_doc.cfm?doc_id=4316 For the obituary column, the Philadelphia Inquirer reported on the same day that the activities of the state-funded seed and early venture capital program known as the Springboard Fund have been suspended because of the state's budget deficit. The program, which was administered by the New Jersey Commission on Science &…

Democrats took the year’s only two races for governor, electing Jim McGreevey in New Jersey and Mark Warner in Virginia.  Democrats also took control of the New Jersey Assembly for the first time in 10 years. Republicans, meanwhile, strengthened their control of Virginia's Assembly by 12 seats. The GOP now holds 64 of the 100 seats in the chamber. In Washington, Democrats claimed a narrow majority of the seats in the house, giving the party control of both legislative chambers and the governor's office.  With Tuesday’s election results, Republicans hold 27 governorships, Democrats control 21 seats, and Independents hold Maine and Minnesota. Each party controls 17 state legislatures while 16 are split between the two. Thirty-six states will hold elections for governors next fall. Incumbents in 19 of these states either are not running or are barred by term limits from serving another term.  Return to the top of this page 

After discovering that only 10 percent of the venture capital raised in New Jersey is invested in New Jersey companies, a new venture fund has been established combining private, state, and federal resources. The seed investment fund will be used to assist New Jersey start-up technology businesses get off the ground. Led by the nonprofit New Jersey Technology Council, NJTC Venture Fund partners include private investors and the New Jersey Economic Development Authority. The Authority is providing a 1:3 match for each private dollar raised, up to $10 million. Local newspapers report $22 million in private investment has been raised to date toward the goal of $30 million. The Small Business Investment Corporation (SBIC) program of the Small Business Administration may be used to further leverage the fund. NJTC Venture Fund will provide between $300,000 to $3 million in seed money to start-ups in a variety of industries, including software, communications, biotech, photonics, healthcare, and electronics companies. The NJTC was…

Governor Christie Whitman has announced New Jersey Jobs for a New Economy, a multi-million dollar package of technology-related initiatives to make New Jersey more competitive in the creation of high technology jobs.  Among the plan's proposals are the following technology-related investments:  $15 million for excellence grants to enable New Jersey's colleges and universities to develop nationally recognized programs of technology in the following fields: computer science and information technology; physical life and health sciences; engineering and engineering technology; and, science and math teacher education. $10 million for matching challenge grants to the universities to attract federal research projects in the same four areas listed above. According to Governor Whitman, New Jersey currently ranks 44th in securing federal R&D funding. $10 million in state matching funds to leverage $30 million from private sources for venture capital investments in high technology firms. $3 million in funds from the WorkFirst New Jersey program to provide computer…

The long-time executive director of the New Jersey Commission on Science and Technology, Jay Brandinger, recently announced his decision to resign as Executive Director of the New Jersey Commission on Science and Technology. Consequently, the Commission is seeking an Executive Director. The New Jersey Commission on Science & Technology is appointed by the Governor to oversee a competitive grants program of $20 million annually that spans science and technology research, technology transfer and business development. The Executive Director serves as the Chief Executive of the Commission, overseeing a staff of seven. The Executive Director provides high-level science and technology policy input to the Governor, her Cabinet, her senior executive branch staff, legislators and the legislative committees. He/she also serves as the principal state representative to federal and interstate science and technology agencies and organizations, including the National Science Foundation, the National Institute of Standards and Technology, the Advanced Research Projects Agency, the…

The New Jersey Manufacturing Extension Partnership (NJMEP) seeks qualified applicants for the position of Executive Director. A successful candidate will have a established record of entrepreneurship demonstrated through a history of leadership in firm or division status, new product launches, development of new marketing strategies, or similar endeavors. Applicants must have senior-level management experience in an industrial manufacturing firm with full profit and loss responsibility. The job requires experience with public sector or non-profit organizations, and a knowledge of economic development practices and agencies. A degree in engineering or science, and an MBA or equivalent is expected. The Executive Director reports to a private board of directors, and has full budgetary and staffing authority for the organization. The Executive Director will lead strategic planning for, and the implementation of NJMEP programs serving target sectors in the rubber and plastics, metalworking and machinery, electronics and instrumentation, and food and beverage industries. For more information…