VC News
With the goal of creating new access to venture capital (VC) for area businesses, Arizona and Montana are investing up to $50 million into a “fund of funds” concept. Both states are undertaking this multi-management model with the hopes of luring high-tech start-up companies. Their efforts are described in further detail below.
Useful Stats: State Business Establishments, 1998 and 2003
The number of business establishments in the U.S. grew by 17.4 percent between 1998 and the end of 2003, although a slight net decline occurred in 2003 for the first time in six years, according to data recently released by infoUSA.
People
An advocate for small businesses in Washington known as “Mr. Small Business,” Milton Stewart died of pneumonia on Nov. 5 in Phoenix.
SSTI's Calendar Page Already Lists 100 TBED Events for 2005
If you haven't purchased your 2005 wall calendar or updated your computer-based planner yet, you will need to soon, to schedule travel and update budget requests. At the top of many lists will be SSTI's 9th annual conference, Oct. 19-21, 2005 in Atlanta, but how do you conveniently find out about the many other high quality events happening throughout the year?
Gubernatorial Election Results for 11 Races
Going into yesterday's elections, it was clear at least five states would have freshmen governors as three incumbents chose not to run for re-election and two incumbents lost their parties’ nominations to seek new terms. The five states were Missouri, Montana, Utah, Washington and West Virginia.
Update on Key TBED Issues, Referenda from Around the Country
The Oct. 25 issue of the SSTI Weekly Digest previewed ballot issues in six states that would have implications for their respective state efforts to grow a knowledge-based economy. The unofficial results at press time for each are provided below:
TBED Election Issues across the States
While the presidential election has been dominating the news, voters across the country will be acting on an array of tech-based economic development issues on Election Day next week. The largest is an initiative in California that would provide up to $3 billion for embryonic stem cell research. If approved by California voters, Proposition 71 would have the potential of significantly changing the landscape of where stem cell research is carried out and have significant economic development implications.
Science Foundation Arizona Secures $25M from Stardust Charitable Fund
Earlier this year, Arizona Gov. Janet Napolitano and the Arizona State Legislature committed $100 million over four years to support Science Foundation Arizona, a nonprofit public-private partnership to coordinate the state’s R&D investments in science and technology. The catch? The law required a dollar-to-dollar match of non-government funding of the annual $25 million allotment before the state could release its funding to Science Foundation Arizona.
Tech Incubators Continue to Pop Up across the Country
Alternate financing schemes increasing to pay for popular TBED tool
People & TBED Organizations
William Stephan has been appointed vice president of engagement for Indiana University, a new position aimed at furthing economic development and related outcomes.
Research Park RoundUp
Over the past few months, several new research park announcements have been made, including a $2.5 billion public-private investment in Kentucky. Gov. Ernie Fletcher last month announced plans for the expansion of the Louisville Health Sciences Campus. The project will encompass the 30-block radius that houses the Louisville health sciences campus.
Companies Sought for VC Conference
Companies seeking venture capital investments through the Great Midwest Venture Capital Conference have until August 25 to apply for consideration. The conference, this year taking place October 30-31 in Knoxville, Tennessee, annually draws around 200 investors and other financial professionals. The tenth annual event is organized by the Indiana Business Modernization and Technology Corporation and Technology 2020, located in Oak Ridge, Tennessee.
Arizona New Economy Partnership Formed
Arizona Governor Jane Dee Hull has announced the formation of the Arizona Partnership for the New Economy, a 35-member steering committee appointed to purse the following goals:
People
Jack Haenichen has been promoted to Deputy Director for the Arizona Department of Commerce.
Network of Incubators Proposed in Indiana
Purdue University plans to seek $15 million in matching funds from the state to establish and support five technology business incubators or regional technology centers around Indiana. The state also will be asked to provide $6.25 million in funding for administrative support over the first four years of the centers’ operations.
BMT HIGHLIGHTS YEAR OF CHANGE
The 1998 annual report of the Indiana Business Modernization and Technology Corporation (BMT) addresses various changes encountered by the organization this year.
Workforce development key to state economic development initiatives
A report on employment trends from hiring firm Robert Half found that 2020 presents greater challenges for employers looking to expand their workforce as the country’s labor market is near full employment and job openings remain at high levels.
States launching innovation initiatives across the country
Proving that innovation is appealing to states regardless of their size or political leanings, new initiatives in both Democratic and Republican states, as well as large states like California and small states like Vermont, are driving innovation agendas into action in areas ranging from clean energy and aid for students and colleges, to new venture capital investments and bond financing to support business collaborations with higher education to help translate cutting-edge research into products and companies.
States address workforce issues pushed to forefront by pandemic
Faced with the sudden, unprecedented fallout from the COVID-19 pandemic, Gov. Ned Lamont last month launched a new resource to provide workers and businesses in Connecticut with career tools, including partnering with Indeed and workforce training providers.
Tech Talkin’ Govs 2020: FL, GA, IN, IA, KS, KY, MO, RI, WA present diverse efforts to grow economies
Governors’ focus on initiatives particular to their state in this latest round of state of the state addresses. As SSTI continues to review the speeches for new innovation proposals, we found states continuing to focus on education with more attention on teacher salaries and efforts extending all the way down to pre-K with a recognition that the future workforce is influenced by many factors.
Universities launch incubators, accelerators and funds in 2019
Universities frequently play an integral role in providing activities, research, and products that positively affect or support local, regional, state and national economic development or strategic goals. In higher-education’s efforts to align its participation in innovation and entrepreneurship systems, universities’ incubators, accelerators and fund programs are essential in assisting their faculty, staff, or students in the services and support needed to create startups, bring products to market, or provide critically needed funding.
Tech Talkin’ Govs 2020: AZ, CO, NJ, NY, VT spotlight climate, higher ed, rural and workforce proposals
Governors are continuing to roll out their state of the state addresses and this week’s SSTI review highlights differences in the states economies: while Arizona is enjoying population growth Vermont is struggling to attract workers. More states are focusing proposals on climate change and clean energy initiatives, with New York proposing a $3 billion bond initiative to build resiliency, and Colorado, New Jersey and Vermont proposing clean energy and climate initiatives as well. Rural broadband, higher education and workforce initiatives also are throughout the state addresses.
Workforce programs receiving state attention
As the month of September marks national Workforce Development Month, states around the country continue to forge ahead with programs and initiatives to help train the workforce and attract more workers to open positions. This article highlights two new reports out that detail state efforts in various workforce programs, as well as calling out several new or proposed programs in Ohio, Vermont and Arizona that are designed to increase and develop the workforce in each of those states.
Consolidation of local governments could provide new economic development outlets
Improved prospects for economic development, as opposed to concerns about government efficiency, can play an important role in building support for local government consolidation efforts. The importance of economic opportunities in government consolidation was a key conclusion within Ball State University’s recently published policy brief, Indiana’s Government Modernization Act & Local Government Consolidation Experiences: Process and Politics.