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.
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.
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.
New Wyoming Laws Encourage Tech-based Economic Development
The Wyoming legislature wrapped up its 2001 General Session on March 1. Several laws and supplemental appropriations were made that affect local efforts to grow a stronger tech-based economy.
Senate Enrolled Act (SEA) 10 permits the Wyoming Business Council to use state funds to provide bridge financing to businesses, not to exceed 35 percent of the total cost of any particular project.
$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
Patrick Neary, executive director of Wyoming's Science, Technology & Energy Authority, has also returned to the private sector. Jeff Suddeth is serving as interim director.
Geringer Appoints Wyoming Business Council
Wyoming has begun the process of restructuring its economic development programs. Nine state programs and boards will be transferred to the Wyoming Business Council by July 1. The Council, created by the legislature earlier this year, is a 15-member private sector board of directors that will direct economic development activities in Wyoming. Governor Jim Geringer announced the board appointments earlier this month.
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.
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.
Wyoming Ponders Seed Capital, Tech Centers
The Joint Minerals, Business and Economic Development Interim Committee of the Wyoming state legislature heard testimony last week encouraging the creation of two new initiatives to expand Wyoming's technology-based economic development efforts: a seed capital program and a technology incubator.
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.
Arkansas Nanotech Alliance Formed
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.
Wyoming Creates Staggering $500M Higher Ed Endowment Fund
The scenario: You are a state legislator and have learned high oil and gas prices will provide the state coffers with at least enough surplus revenue over the next five years to have approximately $1,000 per resident. What do you do with the money?
Arkansas House Passes Bill to Allocate 12-Year Funding Base for R&D, Seed Capital
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.