SSTI Digest

SSTI is pleased to announce that John Fernandez, Assistant Secretary for Economic Development at the U.S. Department of Commerce, will participate in a plenary session on the changing role of the federal government in TBED at this year's Annual Conference. SSTI's Annual Conference is the only economic development conference this fall with the senior leaders of the Economic Development Administration (EDA), National Institute of Standards and Technology (NIST) and the U.S. Small Business Administration (SBA) speaking. Find out more about the plenary session and the full schedule at: http://www.ssticonference.org.

JobsOhio, the private, nonprofit corporation authorized to replace Ohio's economic development system, would administer state funded programs and services that have a direct, high-impact on job creation such as business loans, infrastructure grants and deal-closing funds, according to a report to the Ohio General Assembly. At the same time, a newly named Ohio Development Services Agency (ODSA) would focus on programs with a more indirect impact on job creation, including federally funded programs and services geared toward communities and individuals. Dividing the state's programs between the two entities is expected to better align economic development functions. Read more...

As state and federal funding for higher education dwindles and the workforce needs of the new economy continue to shift, state and university officials are reevaluating how higher education is funded, its return on investment for the state, and how universities can better drive economic growth. Recent examples in New York, Ohio and Texas demonstrate how states are implementing new policies to adapt to the changing times.

New York
Gov. Andrew Cuomo recently signed into law the NYSUNY 2020 legislation, an initiative the governor says will both help New York's public universities become a leading catalyst for regionally-focused economic development and stabilize tuition. The new law allows the four university centers located in Albany, Binghamton, Buffalo, and Stony Brook to apply for challenge grants of $35 million each to expand facilities and enhance research-focused programs. A total $140 million is available through the program, including $80 million in capital funding authorized under the new law and $60 million in existing SUNY funds.

The U.S. Department of Treasury has released details on its latest funding approvals from the State Small Business Credit Initiative (SSBCI). Eleven states, and Washington, D.C., are slated to receive a portion of the $360 million that will be used to expand state small business lending and capital programs. In order to qualify, states must demonstrate that their relevant programs will generate at least $10 in new private lending for every $1 in federal funding. As such, Treasury expects the funding to generate more than $3.6 billion in additional small business lending and to create new private sector jobs.

E. William (Bill) Colglazier, recently retired executive officer of the National Academy of Sciences and the National Research Council, has been selected the Science and Technology Advisor to Secretary of State Hilary Clinton.

Florida Gov. Rick Scott named Doug Darling to head up the newly formed Department of Economic Opportunity. He also named Cynthia, Lorenzo, who had been interim director, to head up the Agency for Workforce Innovation.

Steve Jenkins has left his position as senior vice president for economic development at Go Topeka.

Denyse Ferguson has been named vice president of economic development at the Cincinnati USA Partnership, the chamber's economic development arm. Ferguson previously served as the president and CEO of the Lansing Area Economic Partnership, Inc. (Leap, Inc.) in Michigan.

The 2012-13 biennial budget signed into law last month by Gov. John Kasich authorizes the state to transfer the liquor distribution system to JobsOhio, a private nonprofit partnership created to assume the business-incentive and job-creating functions of the Ohio Department of Development. With the transfer, the state expects to generate $1.2 billion in a lump-sum payment, with $500 million deposited into the general fund in FY12 and $700 million used to pay off outstanding bonds supported by liquor profits, according to an analysis by the Ohio Legislative Service Commission.

Ohio is one of several states to enact legislation privatizing some or all economic development functions during the 2011 legislative sessions. Governors in Arizona, Iowa, Nevada, and Wisconsin signed similar bills this year eliminating their primary economic development agencies and replacing them with public-private partnerships intended to reduce state spending and improve the responsiveness of state efforts.

Pamela Goldberg has been appointed as the executive director of the Massachusetts Technology Collaborative. Currently, Goldberg serves as director of entrepreneurial leadership at Tufts University.

Alabama Gov. Robert Bentley announced the appointment of Greg Canfield as the new director of the Alabama Development Office. Current ADO director Seth Hammett is returning to his position with PowerSouth Energy. Canfield is expected to begin his duties on or before Aug. 1.

Ohio Gov. John Kasich announced that Jim Leftwich is resigning as director of the Development Department. Leftwich, former CEO of the Dayton Development Coalition, stepped in as former director Mark Kvamme moved to a different position within the administration.

Whether you are new to the tech-based economic development (TBED) field or a seasoned practitioner, SSTI's podcast interviews with experts in all areas of TBED serves as a useful learning tool. These short and "to the point" interviews delve into questions such as:

• How do you ensure that stakeholders and leaders know about the successes of the program?
• How do you prepare your portfolio companies to grow and pursue additional investment?
• What has made your organization successful in working with regional organizations and philanthropic institutions?
• If an organization were trying to emulate your success, what advice would you give them?

Interviews with all 20 Excellence in TBED award winners are available at: http://www.ssti.org/Awards/podcasts. Or, you can subscribe to the podcast in iTunes, your RSS reader or any podcast client. Look for new interviews with the 2010 winners in the coming months! Learn more about the 2011 awards: http://www.ssti.org/Awards

Job Corner
NorTech, a regional nonprofit technology-based economic development organization, is seeking applications for the position of vice president. The individual will be responsible for managing multiple internal and external special projects, developing and managing fundraising strategy, operations and government engagement program activities. It is critical for the candidate to be able to represent the CEO at various meetings and for execution of projects. This position requires the ability to multitask and continue to shift and prioritize projects as new opportunities emerge.

The Idaho National Laboratory is seeking applications for a senior economic development manager to leverage INL's scientific and technical capabilities, build local and state relationships, identify the science and technology needs of state and regional entities, work with commercialization managers and make funding recommendations to technology deployment management.

Much of the recent economic recovery plans coming from governors across the country have focused on growing and nurturing existing businesses through a regional approach to economic development. The idea is that by identifying and defining the unique needs of a region, policymakers and practitioners can then provide the necessary tools and resources to grow industries likely to succeed within a given region, thus improving the overall economic landscape of the state. This approach is happening both in states and at the local level.

TBED People
SSTI board members Rob Atkinson and Rebecca Bagley and SSTI member Stephen Tang were appointed to the U.S. Department of Commerce Innovation Advisory Board. The 15-member board will guide a study of U.S. economic competitiveness and innovation to help inform national policies.

Tom Thornton, who recently resigned as president and chief executive of the Kansas Bioscience Authority, has joined Cleveland Clinic Innovations as its general manager of alliances.

North Dakota Gov. Jack Dalrymple named Alan Anderson to head the North Dakota Department of Commerce. Paul Govig has been serving as the acting commissioner since December of last year when Shane Goettle left the department. Govig will continue to serve as deputy Commerce commissioner.

Tom Thornton, president and CEO of the Kansas Bioscience Authority, submitted his letter of resignation to the board effective immediately. David Vranicar, president of the authority's Heartland BioVentures division, was named interim president and CEO.

Spencer Eccles, executive director of the Utah Governor's Office of Economic Development has named Sophia DiCaro as his new deputy director. Prior to this appointment, DiCaro served as the GOED Finance director.

Ann Arbor SPARK has selected Paul Krutko, a Silicon Valley economic development executive, as its next CEO. Krutko, who currently serves as secretary/treasurer of the International Economic Development Council, most recently led the economic development initiatives of the city of San Jose as chief development officer. Krutko succeeds, Michael Finney, who resigned to become CEO of the Michigan Economic Development Corp.