Many governors around the country have begun laying out priorities for the next legislative session. In the coming weeks, SSTI will review gubernatorial addresses and budget proposals related to economic development. This week, we highlight developments in Arizona, Maryland, Missouri and South Carolina.

SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene the 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.

This week, governor’s in eight states released their budget proposals. Balanced budgets and fiscal austerity were undoubtedly emphasized by the governors, yet funding for STEM education and workforce development initiatives were increasingly popular.

SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.

Less than two months into 2015, Massachusetts and potentially Arizona will join the growing number of states that have adopted intrastate crowdfunding exemptions – one of the emerging trends in economic development from 2014.  In January, the Massachusetts Securities Division adopted a crowdfunding exemption that will allow businesses to raise up to $2 million in equity from both accredited and non-accredited investors.  A similar exemption was introduced i

Several governors released their proposed budgets over the last two weeks, and while some states continue to deal with budget shortfalls that prevent many new initiatives from coming into fruition, governors in Pennsylvania and North Carolina included numerous proposals focused on innovation and economic development. Additionally, governors in Louisiana and Massachusetts highlighted new workforce development proposals. 

Pennsylvania

North Carolina Gov. Pat McCrory recently signed an economic development bill (HB 117) that would expand the operations of the state’s Job Development Investment Grant (JDIG) fund. The fund, which offers grants to companies for job creation and expansion, will have a higher annual cap, and a contingency to offer even more funds in years in which a “high-yield project” is supported.

Since the establishment of the Tennessee Promise in 2014, the first statewide free community college effort, community college systems and states are outlining their own strategies to make a two-year education free for students in their region in attempt to create an educated, qualified workforce that addresses the needs of industry and promotes economic prosperity. While it may remain too early to judge the benefits and the costs of these programs – lawmakers and educational professionals remain divided on the issue. 

Five North Carolina communities have been selected to participate in InnovateNC, a two-year economic development initiative centered on sharing knowledge, tools and resources between partner regions. Asheville, Greensboro, Pembroke, Wilmington and the city and county of Wilson were chosen from the 18 applicant regions. The initiative is spearheaded by NC State University’s Institute for Emerging Issues with nine partners and supported by a grant from the Kenan Creative Collaboratory.

While most state legislative sessions ended over the summer, a number of states only recently approved spending for FY16. Governors in Alabama, North Carolina and New Hampshire have approved budgets in the past few weeks, each after months of tense negotiations. SSTI reviews budgets in each of these states for spending related to technology-based economic development. For past articles in this series, visit ssti.org/tags/state-budget.

A mixture of success and trepidation accompanied 2016 legislation introduced in  several states to create, extend, or recapitalize angel tax credit programs. While legislation in Arizona’s legislature failed due to a lack of support, angel tax credit bills in Kansas and Tennessee passed easily with broad support from their governors, lawmakers, and the public. In North Dakota, the state’s angel tax credit program faces an unclear future due to concerns about transparency and oversight. To stimulate investments in West Virginia’s startup community, Gov.

An evaluation of the One North Carolina Small Business Matching Fund, a statewide initiative providing grants of up to $50,000 to recent SBIR/STTR awardees, suggests that the program is achieving its goals of creating high-skill, high-wage jobs.

The ability of states to deliver the services promised to its residents relies on their fiscal soundness. With most states beginning their fiscal year in July, SSTI has reviewed the current fiscal standing for each state and here presents a snapshot of our findings.

While job openings surpassed 7.1 million in August, companies across the country still are struggling to attract staff with relevant skills. To address this issue, states are developing new workforce development efforts to address the increased demand.

SSTI has reviewed the ballot initiatives across the country that affect innovation. Several states have energy initiatives on their ballots, while higher education funding is at play in Maine, Montana, New Jersey and Rhode Island. Utah could become only the second state to fund its schools through gas taxes, if a measure there is passed. At the same time, four states have ballot issues addressing redistricting commissions which could have a significant impact on state legislative makeup when lines are redrawn after the 2020 census.

Arizona

North Carolina and Tennessee are implementing new initiatives to get students in their states the help they need to either complete degrees or training that will help improve workforce development in those states. North Carolina’s governor recently added a new line of grants dubbed “Finish Line” grants, to help students that are struggling with non-academic problems complete community college.

In a recent Digest article, SSTI covered research highlighting the oversized role that offshoring multinationals had in manufacturing employment decline from 1983 to 2011. During this time, deindustrialization and manufacturing unemployment had a profound impact on community approaches to economic development.

Educational initiatives continue to dominate in state of the state, budget and inaugural addresses, with governors in North Carolina, New Hampshire and Oregon all acknowledging its importance in the workforce development sphere and the future competitiveness of the states.

Proposed state budgets in Louisiana, Massachusetts and North Carolina show support for innovation and higher education, with some states better positioned in their levels of support while some programs are experiencing cuts. North Carolina unveiled new programs supporting a variety of tech-based economic development initiatives, while Louisiana is restoring full funding for its state scholarships for residents despite its budget deficit.

SSTI continues its reporting on actions taken by state legislatures to invest in economic growth through science, technology, innovation and entrepreneurship. This week, we look at the budgets passed and signed by governors in Arizona, where R&D infrastructure will get a boost at the state’s public universities, Montana, which will see an increase in funding for some higher education research facilities, and Nebraska, where the state maintained the amount authorized for funding to small businesses for commercialization activities.

Arizona