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 Governors Out of the Gate Fast On S&T
Two new Governors, Bob Wise of West Virginia and Wisconsin's Scott McCallum, have put tech-based economic development in the forefront of their respective economic agendas.
West Virginia
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.
Technology/Economic Summits Yielding Results
What can policymakers and practitioners do if the statistics and other metrics indicate a state, region or locality is not well positioned for the technology-based economy, but the elected leaders and economic development professionals are plodding along with traditional approaches to job creation and development?
Wisconsin explores $100 Million for Venture Capital
Three separate public initiatives are underway in Wisconsin which could result in the availability of more than $100 million for new venture capital financing. The efforts are designed to spur venture capital investment in the state (ranked 45th in the 1998 Pricewaterhouse Coopers survey) and to increase entrepreneurial activity in the Wisconsin biotechnology community.
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
Wisconsin Creates State Technology Council
Last Friday, Governor Tommy Thompson signed into law Senate Bill 429, establishing the Wisconsin Technology and Entrepreneurs Council (WITEC).
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.
Wisconsin Legislature Considers High Tech Corporation
In his recent State of the State address, Wisconsin Governor Tommy Thompson called for the establishment of a new High Tech Corporation to assist in the development of companies for the New Economy. Toward that end, a bill has been introduced in both houses of the Wisconsin Legislature to establish the corporation.
Tech Fares Well in Wisconsin Biennial Budget
On July 16, both houses of Wisconsin’s state Legislature passed a state budget including numerous incentives for technological development. The budget covers state spending for a two-year period that began July 1. Gov. Scott McCallum has until August 30 to approve the budget; several of the tech-related items were in the Governor's first state of the state and executive budget addresses.
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.
People
After 30 years as leader of the Greater Madison Chamber of Commerce, Robert Brennan is leaving to become a consultant to the new Office of Corporate Relations at the University of Wisconsin-Madison.
People and Organizational News
Phillip Z. Sobocinski has accepted a new position as Assistant Director of the new Office of Corporate Relations in the Office of the Chancellor, University of Wisconsin-Madison. The new initiative will be led by Charles Hoslet.
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.