Incubators: Proven Tools for Tech-based Economic Development
The headlines of many tech and business publications scream of massive Internet incubator layoffs, closures, and restructuring. The rapid rise and fall of these organizations has left some local tech-based economic development practitioners wondering if encouraging the growth of incubator facilities is a worthwhile strategy to pursue.
People
Dr. Frederick Humphries, president of Florida A&M University and SSTI Board member, has announced he will retire this summer from the university.
People
Lee Martin has stepped down as executive director from TennesSeed. Tom Rogers, CEO of Tech 2020, has agreed to serve as interim director of TennesSeed for a six-month period.
POSITION DESCRIPTION
Technology 2020, a public-private partnership, is seeking a Director of New Business Development. Technology 2020is supported by a number of large corporate "technology partners" in the Knoxville/Oak Ridge Area of east Tennessee. Technology 2020's primary objective is to leverage talent and reputation of the Oak Ridge National Laboratory and grow new technology businesses that will create new jobs and help diversify the economy of the region.
SENATORS FRIST AND ROCKEFELLER INTRODUCE BILL TO DOUBLE CIVILIAN R&D SPENDING
On June 25, Senators Bill Frist (R-TN) and Jay Rockefeller (D-WV) introduced a new bill, the Federal Research Investment Act (S. 2217). The purpose of the bill is to provide for the continuation of federal research investment in a fiscally sustainable way.
People
Jim Pickens will be the permanent director of the Arkansas Department of Economic Development. Mr. Pickens has served as interim director since February 2.
Upcoming Conferences of Note
The following is a sampling of the more than 60 events included in the SSTI Calendar of Events webpage: http://www.ssti.org/calendar.htm
Bipartisan Efforts Deliver New Tech Programs, Acts for Arkansas
A wide range of research and tech-based economic development bills were approved by the Arkansas legislature, which ended its legislative session in mid-April. With proposals and support coming both from Republican Governor Huckabee and the heavily Democratic legislature, Arkansas is the latest state to demonstrate broad bipartisan support for investing in science and technology.
South Carolina, Florida Get New Tech Councils
On Wednesday, South Carolina Governor Jim Hodges announced the appointment of a 38-member Steering Committee of the Technology Transition Team. The group, chaired by the president of the South Carolina operations of BellSouth, consists of business leaders, technology entrepreneurs, financial executives, research university leaders, and government representatives. Technology Transition Team responsibilities include:
Accessing Capital: News from the South
While venture capital is harder to come by these days in most parts of the country due to the dot-com crash and stock market declines, investment capital may flow more easily in two southern states based on two initiatives.
Florida: $450 Million for CAPCOs Considered
The Difficult Task of Clogging the Brain Drain
Growing and keeping an educated workforce, one ready to help build a technology-based economy, is one of the greatest challenges even the most high-tech areas. The problem can be quite severe. For example, a new statewide survey of Florida college students, conducted by Leadership Florida and Nova Southeastern University, revealed that only 48 percent of the students plan to remain in Florida after graduation.
Florida Space Research Institute Off the Ground
The Florida legislature recently approved legislation creating the Florida Space Research Institute (FSRI), an independent, industry-led organization designed to coordinate the space-related research capabilities of several public and private universities. FSRI will strive to expand the universities’ involvement in space research and education, and to insure that state academic resources are available to support the space-related needs of industry, NASA, and the military.
People
Dr. Donald Daniel is the new CEO of the University of Tennessee Space Institute.
$10 M Research Fund, Loan Forgiveness Program Among New Tech Initiatives in Arkansas
The State of Arkansas has enacted several initiatives this year to assist science, technology, and research within the state. The two largest efforts are a $10 million research fund and a loan forgiveness program.
Arkansas Research Matching Fund
In an effort to improve the state’s national ranking of 49th place in research performance, the Arkansas General Assembly created the Arkansas Research Matching Fund. The $10 million fund will be administered by the
People
Brent Gregory has announced his resignation as Vice President for Technology Development with Enterprise Florida to accept a position in the private sector.
IT Florida Issues Annual Report
Encouraging venture capital investments, creating R&D tax exemptions, and establishing three new technology-based organizations are just a few of the recommendations included in the first annual report of ITFlorida.com. The 34-member Information Service Technology Development Task Force was created by state legislation last year to assess the health of Florida's information technology industry.
State S&T Round Up
Arizona
The Ways & Means Committee of the Arizona House of Representatives has passed a bill to eliminate $250 million in sales tax exemptions for a number of products and services, including telecommunications equipment and solar devices. If the bill passes, proceeds would be used to raise teachers' salaries.
Rural Business Incubation Focus of ARC Event
The Appalachian Regional Commission (ARC), the Tennessee Valley Authority, and the National Business Incubation Association are sponsoring a conference Oct. 21–23 in Chattanooga, Tennessee, to focus on the importance of business incubation to rural economic development and to share best practices by successful incubators across the nation.
State & Local Round Up
Camden, Arkansas
The June 19, 2001 issue of The Bond Buyer reported that Camden, with a population just over 13,000, approved a one-cent sales tax to raise $6 million over four years to support downtown business revitalization efforts. Plans include construction of a business incubator and development of a 500-acre business park.
Missouri
People
Gov. Don Sundquist has named Tony Grande to be the new Commissioner of the Tennessee Department of Economic and Community Development (ECD). Mr. Grande formerly was ECD Deputy Commissioner as well as its Assistant Commissioner of Tennessee business services and director of manufacturing services.
People
Gov. Ronnie Musgrove is appointing Robert J. Rohrlack, Jr. as the new Director of the Mississippi Development Authority. Mr. Rohrlack is currently the Chief Executive for the Alliance for Economic Development in Gainesville, Florida.
Local TBED Round Up
Blythewood, South Carolina
Tennessee Creates New Organization to Lead S&T Efforts
The State of Tennessee has created a private, not-for-profit corporation--- the Tennessee Technology Development Corporation---to stimulate economic development through Tennessee's science and technology resources.
The corporation's responsibilities include: