State & Local Tech-Based ED Round-Up

Colorado

The Governor’s Office of Innovation and Technology and the state’s Science and Technology Commission have teamed up to create the Colorado Technology Alliance to provide tech business recruitment information and assistance. According to a recent Pueblo Chieftain article, the Alliance will prepare a clearinghouse website and a 120-page resource magazine. Local and regional information for the website will be administered and maintained by local tech-based economic development officials.



Covington, Kentucky

The Cincinnati Enquirer reports the Madison Avenue Launch Team, a Covington non-profit organization, has signed a five-year lease to create a 21,000 sq. ft. technology accelerator to provide office space for up to 12 firms, mentoring services, and business assistance. So far, $200,000 in funding for the accelerator has been secured from the city of Covington, the Tricounty Economic Development Corp., and private investors. Additional funding is sought from the Kentucky Innovations Commission. More information about the accelerator and the team’s “New Economy Guerrila Warfare tactics” is available at: http://www.madisonavenuelaunch.com/

Maryland

The State feature of National Journal’s Tech Daily reported Governor Parris Glendening vetoed legislation (S. 455: http://mlis.state.md.us/2001rs/billfile/SB0455.htm ) last week that would have provided a maximum $1,500 tax credit for worker training and education expenses in occupations and skill areas deemed by the Maryland Higher Education Commission to be critical to the state’s economic development strategy.



In a press release explaining his reasoning behind the veto, Governor Glendening said the bill “overlaps and sometimes contradicts other initiatives that encourage job training, higher education, and economic development in Maryland. With a price tag that could potentially exceed $20 million, it could siphon off money from other programs with track records of success."



Missouri

The Missouri legislature adjourned last week without passing a bill to re-fund three angel and capital investment tax credit programs. The St. Louis Post-Dispatch reported Wednesday that for the second time in two years, popular bills to encourage entrepreneurship and investment have fallen victim in the final days of the session to having unrelated, controversial amendments attached that made the bills unpassable (anti-abortion and school vouchers).



As a result, the article states two tax credits for angel investments and venture capital are unavailable. The bill also would have put $4 million into the certified capital companies program.



Separately, the Post-Dispatch reported last week that the state-based seed capital fund is open for business after raising $21 million. The fund, managed privately, is expected to focus on medical technology investments.



Fargo, North Dakota

North Dakota State University officially opened its Research and Technology Park this month with the arrival of its first tenant, an electronics firm that will employ 300 people in a new 75,000 sq. ft. facility. An Associated Press wire story reports a 40,000 sq. ft. facility with wet and dry labs is under construction for NDSU researchers and a 25,000 sq. ft. technology business incubator is planned.



Columbus, Ohio

While technology and education budget battles rage in the state legislature, a group of Ohio State University students have taken their future in their own hands by creating the Business Builders’ Club. The new organization, launched this Spring, arose from entrepreneurial enthusiasm uncovered in a earlier failed, student-run consulting and incubator effort. OSU students interested in joining must complete a “personal business plan.” More information is available at: http://businessbuildersclub.org/home.htm

Virginia

Last week, Virginia's Center for Innovative Technology (CIT) announced an agreement with the Technology Commercialization Center (TeCC), NASA's Mid-Atlantic Region Technology Transfer Center (RTTC) to team CIT's nine regional offices with TeCC to provide Virginia businesses with access to NASA-developed technologies that have commercial potential. TeCC, the newest of NASA’s six RTTCs, recently received a five-year $6.8 million contract from NASA to help businesses find commercial uses for the technology developed at NASA's Langley Research Center., which is located in Hampton, Virginia. More information about CIT can be found at: http://www.cit.org