Over the last week, several states have announced/passed new programs focused on increasing the capital available to spur small business growth and innovation. Officials from New Jersey announced the state's new angel tax credit will take effect July 1. In Arizona and Wisconsin two bills await gubernatorial approval that would rework the Arizona R&D tax credit program and establish a $75 million venture capital fund in Wisconsin. Meanwhile, the Minnesota state legislature did not approve an additional $5 million for its popular Small Business Investment Tax Credit.

During this year’s legislative sessions, several states looked toward creating, providing support for or redesigning programs that help incentivize businesses to hire and mentor student interns. In an effort to spur rural internships, Minnesota lawmakers approved a new tax credit program to support internships for students in greater Minnesota. In North Dakota, lawmakers committed $1.5 million to their Operation Intern program, while Nebraska lawmakers updated their Intern Nebraska grant program to provide students with a high-quality internship experience. Rhode Island Gov.

Measuring impact is critical to the success and sustainability of any economic development initiative, and as the national debate over fiscal austerity and taxpayer spending continues, TBED organizations can expect increased scrutiny and accountability for their investments.

With veteran unemployment rates exceeding the already-high national unemployment rate, organizations and agencies around the country are seeking ways to plug veterans into the innovation economy. These efforts capitalize on the leadership skills and technical knowledge of military veterans by helping them become entrepreneurs. Operation Boots to Business is a new nationwide initiative, backed by the U.S. Small Business Administration (SBA), that will provide entrepreneurship training courses at military bases to help veterans transition into business ownership.

Tony Grindberg, executive director at the NDSU Research and Technology Park, has announced his resignation effective Sept. 30. He has accepted a position as the business unit manager for the Aerospace Business Unit of Appareo Systems, LLC. Appareo Systems is headquartered in the NDSU Research Park on the NDSU campus. Grindberg has been with the NDSU Research Park for the past 10 years.

Voters in 37 states will decide on more than 170 ballot measures this year, many of which are related to tech-based economic development (TBED). Tax measures seem to be dominating ballots this year, with questions relating to both decreases and increases for sales, property and income taxes. Several states are counting on voters to agree to temporary increases to help fill budget deficits and ensure steady funding for education.

Pamela Goldberg has been appointed as the executive director of the Massachusetts Technology Collaborative. Currently, Goldberg serves as director of entrepreneurial leadership at Tufts University.

The National Science Foundation (NSF) has announced that it will award $74 million total for the creation of four interdisciplinary research and education centers as part of the third generation of NSF Engineering Research Centers. In addition to their primary focus on commercialization and education, these centers will emphasize innovation, entrepreneurship, small business collaboration, and international partnerships. For the first time, two of the ERCs will be co-funded by the Department of Energy.

Recent legislative actions supporting technology-based economic development include level funding for the Massachusetts Life Sciences Center, funding to support programs of the Minnesota Science and Technology Authority and the expansion of two state programs in support of technology and life sciences companies in New Jersey.

In 2006, three Arizona CEO groups joined forces to create Science Foundation Arizona (SFAz), a nonprofit public-private partnership charged with making strategic investments to support university research, new high-tech businesses, K-12 STEM education and to leverage outside investment. The state provided public support for these efforts through the 21st Century Fund, which in its first year included $35 million for SFAz's grant programs.

Though green jobs have become the focus of many TBED initiatives at the federal, state and local levels, it remains difficult to estimate the size of the green workforce. Green jobs are a relatively new focus for economic development, and there is no standard definition of the green economy and green occupations. Several recent reports have taken on the task of defining green jobs, including the industry sectors that should be folded into that definition.

In the midst of a national economic recession contributing to a record number of job losses in traditional industries, forward thinking states are exploring ideas and committing funds to help grow and diversify their economies and strengthen their renewable energy portfolios.

The role of a technology incubator or accelerator for supporting nascent firms generally is regarded with the utmost importance by the tech-based economic development community. Tech incubators provide essential resources for startup companies to develop and commercialize new technologies, leading to the creation of high-quality jobs.

Craig Dye was named director of the Mtech VentureAccelerator Program, a fast-track, early admission program tied to Mtech's Technology Advancement Program.

The Minnesota High Tech Association announced Margaret Anderson Kelliher, speaker of the Minnesota House, will assume the role of president of the Association beginning in January after she leaves public office.

Gov. Jan Brewer is directing $10 million in federal stimulus funds to Science Foundation Arizona (SFAz) to support research and education initiatives. The bulk of the money ($6.5 million) will go toward research initiatives and the remaining $3.5 million will be directed toward education programs. SFAz was created in 2006 as a public-private organization to strengthen the state's economy through investments in science and technology. Arizona's neighbor to the north, Utah, also directed a portion of federal stimulus funds to enhance its technology-based economy.

Often credited with contributing significant revenue to states' economies, research parks also house facilities for workforce training and provide resources for tech-based industries, which is especially important as the nation's employment begins to pick up steam. In West Virginia, officials are building a $15 million advanced technology-training center at the state-owned research and technology park, and in Utah, officials recently broke ground on a building that will house engineers and analysts working on the nation's Intercontinental Ballistic Missile program.

TBED People
Anne Barth has been named the executive director of TechConnect West Virginia.

Joann Rockwell MacMaster has been appointed site director for the Arizona Center for Innovation at the UA Tech Park.

Catherine Renault resigned from her position as director of the Maine Office of Innovation effective December 3.

Arizona Gov. Jan Brewer will convene a special session to focus on job creation proposals centered on her effort to replace the state's Department of Commerce with the public-private partnership she established through executive order last year (see the July 14, 2010 issue of the Digest). Along with legislative approval of the Arizona Commerce Authority (ACA), the governor is calling for $25 million to launch the Arizona Competes Fund, providing tax incentives for businesses locating in the state.