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.
New Jersey Launches $40 Million VC Partnership
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.
Northeast-Midwest Institute Reports on Federal Spending by State
Despite small improvements, Northeast and Midwest regions lag behind the South and West in terms of dollars returned to states from taxes sent to Washington, according to a report issued by the Northeast-Midwest Institute.
FEDERAL LABS SUPPORT AUTO INITIATIVE
Seven federal labs from the Federal Laboratory Consortium’s Midwest Region - representing the Air Force, Army, Navy, Department of Energy, NASA, Department of Agriculture, and the Environmental Protection Agency (EPA) - are cooperating in an initiative to help automotive manufacturers and suppliers access the resources of the federal laboratory system.
Brandinger Resigns; NJ Seeks Executive Director
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.
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.
Tech Initiatives Proposed for New Jersey
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:
$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
VC Conference Correction
In the June 11, 1999 SSTI Weekly Digest, a mistake was made. The Great Midwest Venture Capital Conference has not yet selected any of the 30 presenting companies for the 1999 conference. The deadline for applications is August 27. More information on the registration process can be found at the conference website: www.greatmidwestvcc.com
Midwest VC Conference Seeks Presenters
The Ninth Annual Great Midwest Venture Capital Conference will be held November 8-9, 1999 in Indianapolis, Indiana. The Indiana Business Modernization & Technology Corp. (BMT) is seeking applications from emerging technology businesses to present their business profiles and capital needs to a variety of potential investors at the event.
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.
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
Local TBED Round Up
Blythewood, South Carolina
People
The director of the Arkansas Department of Economic Development has announced his retirement. Jim Pickens will remain in the position until his replacement is named, according to local news reports.
Fireworks on the Fourth for NJCS&T?
The Fourth of July might just be a paid holiday for New Jersey's tech-based economic development agency after all. Since Governor James McGreevey released his FY 2004 budget request six months ago, the New Jersey Commission on Science and Technology has been living under a June 30 death sentence. Facing a deficit forecast in excess of $4 billion, the governor had called for the elimination of the $15 million program.
State and Local Tech-based ED RoundUp
San Pablo, CA, College to Use $2.1M EDA Grant to Build Biotech Incubator
People
Otto Loewer is leaving his position as dean of the College of Engineering at the University of Arkansas to become the founding director of the university's new Economic Development Institute.
Summer Opportunities Lure Students Toward Tech Careers
Many efforts to encourage young Americans to pursue careers in science, engineering and manufacturing took advantage of students having the summer off from regular classes. Programs range from one-week science camps to season-long internships and cooperative workstudies. To help other communities begin planning for the end of the 2003 school year, SSTI highlights a few examples from this past summer in this article.
NJ Governor Shifting State TBED Priorities
NJCST Out, Cancer Research In
For NJ: Nano in, VC Out
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.
Keys to Growth Involve Discovery, Engineering and Entrepreneurship, Report Says
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.
People
Gov. James McGreevey recently appointed Alfred Koeppe as the new Chairman of the Economic Development Authority of New Jersey.