States’ fiscal picture improves with growing economy
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.
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.
Most states ended their fiscal year with a surplus and continue to recover from the Great Recession, with a growing economy and job gains. However, they face continuing demands on their budgets, with expanded Medicaid payments and the growing opioid crisis confronting nearly every state. Such decisions affect the state’s ability to fund innovation efforts, from the amount of support available for higher education and STEM programs, to funding for entrepreneurship, and forging public private partnerships to strengthen innovation programming that the private sector cannot fully support.
Our analysis found that some states that rely on the energy sector to fund their spending priorities continue to struggle, while others are already factoring in anticipated revenues as a result of new Supreme Court rulings involving gaming and online sales tax collections.
Ten states selected for manufacturing-focused Policy Academy
Ten states from across the country have been selected as part of a unique program designed to grow and strengthen their manufacturers. Over the course of the next year, interdisciplinary state teams will meet together in Washington, D.C., and separately in their home states, to develop and refine strategies impacting manufacturing industries.
Key ballot initiatives to impact state futures
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
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.
New state efforts look to address skills gap in IN, NC, and SC
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.
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. These efforts have taken many different approaches including grants to communities, free online resources, mentorship programs, or stronger partnerships with industry. While these efforts may be diverse in their processes, they share commonalities, such as bringing together all stakeholders (e.g., industry, academia, government, nonprofits, and local workforce development boards) and providing those services locally across the state, or by leveraging online platforms. Such efforts are reflected in new programs described below in Indiana, North Carolina and South Carolina.
NC finds success with SBIR/STTR matching grants
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.
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. Over the past 10 funding cycles, the $17.2 million deployed across 250 small businesses has created or retained more than 900 innovation-oriented jobs, and raised an additional $5.6 million in tax revenue for the state, according to the analysis performed by the NC Department of Commerce.
States, industry partners launch workforce training efforts focused on 21st century jobs in CA, KY, MD, MI, NC, TN
Due to the effectiveness of employer-sponsored training program, U.S. states are working to build partnerships with industry partners that leverage public resources to help develop a 21st century workforce that addresses specific industry needs. Over the last month, partnerships have been announced between states and key industry leaders including AGCO, CVS, Tesla, and the U.S. Chamber of Commerce Foundation. Some of those collaborations are detailed below.
Due to the effectiveness of employer-sponsored training program, U.S. states are working to build partnerships with industry partners that leverage public resources to help develop a 21st century workforce that addresses specific industry needs. Over the last month, partnerships have been announced between states and key industry leaders including AGCO, CVS, Tesla, and the U.S. Chamber of Commerce Foundation. Some of those collaborations are detailed below.
States launch more help for students in completing education
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.
States with new university-industry partnerships & research capacity activities work to strengthen economies and talent pipelines
Research universities and their partnerships with industry, including an institution’s research capacity, are important elements to building a state’s economy as well as the national economy and talent pipeline and workforce.
Arizona Creates Council on Innovation and Technology
To help formulate the best approach for the state to deploy to help build a stronger technology sector, Arizona Governor Janet Napolitano has established a state advisory group of consisting entirely of high tech business leaders.
People
Todd Bankofier has been appointed president of the Arizona Technology Council.
People
Arizona Governor Janet Napolitano named Gilbert Jimenez to lead the Department of Commerce and has asked Gail Howard to serve as her policy advisor on economic development. Jimenez was Bank One International's Senior Vice President and Regional Manager for Mexico/Latin America. Howard comes to the administration from Arizona State University, where she has served since 1990 as the University's Director of Economic Development and Constituent Outreach.
Tech Talkin' Govs II
Despite, or because of, the continuing fiscal crises facing nearly every state, technology-based economic development remains high on the agendas of most governors, as demonstrated in their recent speeches. Those excerpts pertaining to state efforts to build tech-based economies are provided below.
S&T Provides Foundation for New NC Strategy
A new strategic plan focusing on the North Carolina Department of Commerce's four cornerstones of economic development success – a globally competitive workforce, investment in science and technology, a competitive business climate, and attractive communities prepared for economic development – has been released by the state's Economic Development Board.
New Govs Bring Key S&T Personnel Shifts
Several of the key economic development and science & technology positions have been filled by some of the nation's 24 new governors. Many of these individuals will be involved in setting the state's tech-based economic development agenda and determining budget cuts, reorganization plans or program eliminations to handle the money squeeze. In addition, a few other lead S&T agencies have announced top-level changes.
Does the “Cluster” Concept Address Equity?
A new report, Just Clusters: Economic Development Strategies that Reach More People and Places, from Regional Technology Strategies, Inc. (RTS) finds that while cluster-based economic development strategies have the potential to expand opportunities for disadvantaged populations and rural regions, most current cluster strategies do not pay attention to equity issues. The project was made possible through a grant from the Ford Foundation.
New Strategy Outlines Future for Arizona Bioscience
A new biotech report funded by a private foundation finds Arizona possesses many of the essential elements needed to become a national leader in the biosciences. Now, all the state needs is at least 10 years and a $1.4 billion public-private investment, according to the report Platform for Progress: Arizona's Bioscience Roadmap.
State Tech-based ED Measures Pass, Fail in 2002 General Election
Some of the 200-plus ballot measures decided in the 2002 General Election held Tuesday were dedicated to promoting tech-based economic development (TBED). The results were generally mixed, however. Promoters of Michigan's Life Sciences Corridor were pleased with the failure of an initiative that would have dictated the allocation of the state's tobacco settlement funds, including a smaller amount than the state is currently spending on life sciences research.
North Carolina Outlines Broad Biotech, TBED Strategy
Biotechnology has enormous potential for North Carolina's future, but the state's economic development strategy must be broader than any single industry and must include growth-from-within strategies, concludes a report published by the Institute for Emerging Issues at North Carolina State University.
Tech-based ED RoundUp: New Beginnings
The economic downturn and continuing state and local fiscal problems are not stopping most efforts to develop tech-based economies. Here are a few examples of recent groundbreakings from around the country.
People
Carl Russell has resigned as president and CEO of Tucson Technology Incubator Inc. Bo Statham, a consultant to UniSource Energy Corp. on new business development and a client adviser at the incubator, has been named interim president.
Economic Development Low Priority for Gubernatorial Elections?
Tuesday’s primary resulted in the selection of gubernatorial candidates in nine states: Arizona, Connecticut, Maryland, Minnesota, New Hampshire, New York, Rhode Island, Vermont, and Wisconsin. As of press time, Florida’s primary results on the Democratic side were still uncertain.
People
Marie Wesselhoft was appointed interim director for the Arizona Center for Innovation, replacing Jim Fountain who is retiring this month.
Nano Roadmap Offers Plan to Enhance NC's Economic Future
North Carolina could boost its economy by further leveraging the science of atoms and molecules, a new report finds. In A Roadmap for Nanotechnology in North Carolinas 21st Century, released earlier this month, a state task force comprised of academic and business leaders offers a number of ways North Carolina can use nanotech to provide secure more high-paying jobs for its economy.
People
Dr. Raymond Taylor has joined the Southern Growth Policies Board leadership team as senior fellow and director of the organization's Council on the New Economy Workforce.
Venture Capital Fund for North Carolina Research Campus Doubles to $200M
The venture capital fund investing in biotechnology companies that locate to the North Carolina Research Campus is doubling its holdings to $200 million. This substantial increase is a result of a donation provided by David Murdock, the billionaire businessman and owner of Castle and Cooke Inc. who also provided the initial $100 million to start the fund. The venture capital fund is an integral component of the $1.5 billion biotechnology hub being constructed in Kannapolis, N.C.