Timothy Monger is the new executive director for the Indiana Department of Commerce, Monger replaces Thomas McKenna, who has taken the position as cheif of staff to the Lieutenant Governor.

Many organizations are wondering if, when and how severe their budgets could be impacted by the economy and the continuing fiscal crises in the states. While foundation endowments also have taken a hit by the stock market slump, several are increasing their contributions in building local or statewide technology-based economies. Two recent examples highlight the trend and point toward a funding path few TBED efforts have fully tapped.

Indiana Governor Frank O'Bannon unveiled a plan earlier this week to "Energize Indiana" that relies heavily on tech-based economic development.  Gov.

A massive state budget deficit, partisan squabbles, and a longstanding need to restructure the state's tax code almost derailed Indiana's largest commitment toward building a technology-based economy.

Few private foundations across the country have made a comparable commitment in size or duration toward improving a single state's ability to participate in a knowledge-based economy as the Lilly Foundation has for Indiana. The latest round, reported in this week's online Chronicle of Higher Education, promises a total of $138 million to match donations received by Indiana's accredited colleges and universities.

Within two years, Indiana's agency for promoting economic development will become a quasi public-private partnership similar in concept to the Michigan Economic Development Corporation.

While in Minnesota, an agreement that resolved the budget impasse gives the state's lead science and tech organization a 12-month timeline to fully privatize from the state's support.

A 19-year veteran of the technology-based economic development field has co-authored a guide that outlines strategies for growth in the knowledge-based economy. The Keys to Growth in the New Economy:Investing in Discovery, Engineering, and Entrepreneurship draws on the experiences of John Ahlen, who has led the Arkansas Science and Technology Authority (ASTA) since 1984. The report is co-authored by Mark Diggs, Chairman and CEO of Maryland-based Ontology Works, Inc.

During a legislative season that was marked by heated discussions in most statehouses on what to cut or save, Indiana is one of a handful of states so far that focused considerable debate on planting the seeds for a stronger future through technology-based economic development.

For the second time in three years, the Lilly Endowment is demonstrating its strong commitment to Indiana University's role in life sciences education and research by awarding $50 million to advance the Indiana Genomics Initiative (INGEN).

Leaders of Central Indiana's top research, academic and economic development organizations announced on Wednesday an effort to develop the region as a world-class center for the life sciences industry.

Steve Bryant has been named the project director for the Bloomington Life Sciences Partnership in Indiana.

The source of eadership on specific state tech-based economic development activities greatly influences the design and effectiveness of the effort. It remains to be seen then how the recently launched Arkansas Nanotechnology Alliance evolves locally as its direction originates from the nation's capital.

Wade Lange, president and CEO of the Indiana Health Industry Forum, announced he will be leaving the organization this summer to return to the private sector.

The perennial or biennial efforts to secure funding from state legislatures to support tech-based economic development (TBED) programs can create significant limitations on the design and execution of programs targeting research or early-stage, seed capital investments. Fixed endowments such as the one created by Wyoming and the Permanent Big Sky Economic Development Fund proposed in Montana (see both stories above) are ideal, but getting the initial payment approved by a legislature can be difficult.

The Purdue Research Foundation appointed Kathy DeGuilio-Fox to serve as interim executive director of the Purdue Technology Center of Northwest Indiana.

A new initiative to target and promote Indiana's manufacturing and logistics sector will do so in a similar manner to the 2002 BioCrossroads initiative that aided in transforming the region’s life sciences industry, the Central Indiana Corporate Partnership (CICP) recently announced.

 

Conexus Indiana, a new initiative focused on the state’s advanced manufacturing and logistics industries, will be led by President and CEO Carol D’Amico, former executive vice president and chancellor of Ivy Tech Community College.