CA, NC Govs Propose Bold Reforms to State Economic Development Efforts
Avoiding redundancy and enhancing the efficiency and effectiveness of outdated programs are some of the major goals for governors in California and North Carolina seeking a new approach to job creation. Both proposals involve an overhaul to established economic development efforts.
R&D Tax Credits in Many States Seek to Help Business Development, Innovation
A number of states recently have taken action to expand R&D tax credits and other legislation that would support innovation, commercialization and manufacturing. Hawaii, California, Maryland, Texas, and Florida have signed into law tax incentives and R&D tax credits and an R&D tax credit in New Hampshire went into effect. The Maine legislature also passed a capital tax credit that will begin in 2014.
SSTI Examines Trends in Innovation Policy from the State Legislatures
As many state legislative sessions wind down, a clearer picture of the current direction of state innovation policies is emerging. This week’s SSTI Weekly Digest presents a few of the major trends in technology-based economic development initiatives approved by state legislatures during their most recent sessions. While this review is not meant to be comprehensive, it should illuminate the shifts states are making to refine their investments in the high-tech economy by providing smarter, more targeted support.
L.A. Follows Trend of Harbor Redevelopment with $155m Tech Cluster Project
The city of Los Angeles is working with a consortium of public and private partners to redevelop unused docklands into space that will support new industry cluster development. The project highlights a trend of high-profile projects across the country, with cities like Brooklyn and Philadelphia repurposing dockside warehouse space to seed tech startups and advanced manufacturing.
CA Universities Increase Online Learning Opportunities; Controversial Bill Held for 2014
With additional funding directed to higher education as part of the FY14 budget, the California State University (CSU) and University of California (UC) systems announced efforts to boost access to online courses for current full-time students this fall. The goal is to overcome space shortages in classrooms and help graduate more students on time.
Universities Turn Focus on Entrepreneurship to Boost Regional Economies
Recognizing startup businesses as a powerful force in building stronger local economies, a number of universities across the country have announced significant expansions in their entrepreneurship offerings over the last few weeks. Universities in Missouri and Virginia have announced new and expanded entrepreneurship programs for students, while a nationwide network of top business schools, including Babson College, Stanford University and the University of California, San Francisco, plans to launch an online entrepreneurship program that can be licensed to other schools. The U.S.
New APRA-E Program Awards $36M for Electric Vehicle Development
Electric vehicles may be gaining momentum.
NASA Transition Continues to Spur University, Industry Partnerships
The winding down of the space shuttle program in Florida’s Space Coast by the Obama administration in 2010 spurred a transition in NASA’s areas of focus, including an increased emphasis on commercializing technologies and industry partnerships. NASA recently announced several new initiatives with tech firms, universities, and state agencies geared toward investing in cutting-edge research and technology and developing an educated workforce.
Voters Reject Tax Increases, Back Bonds for Higher Ed
While election night's main focus was on the presidential race, the importance of ballot measures for states and metros is growing as public services and budgets are being severely trimmed. A recent article in The New Republic reports on a new trend where states are embracing ballot measures as a potential source of dedicated funds for targeted investments in regional economic growth and development.
Looming Revenue Shortfalls Latest Challenge for Many States
Amid the economic uncertainty surrounding fiscal cliff negotiations, and what it means for states, some governors are erring on the side of caution when it comes to funding recommendations for the upcoming year. At the same time, several state budget officers are projecting significant revenue shortfalls in the current fiscal year or biennium as a result of lower than expected tax collections.
Review Calls for External Scientific Oversight for CA Stem Cell Research
In a new report, the National Academies' Institute of Medicine (IOM) praises the remarkable research output of California's Institute for Regenerative Medicine (CIRM) during its first seven years, but recommends several changes in oversight that could improve the quality and defensibility of its work. IOM suggests that external scientific reviews and independent oversight of the institute's management could help ameliorate concerns about conflicts of interest and increase transparency.
Tech Talkin' Govs: Part I
SSTI's Tech Talkin' Govs series has returned for its 13th annual edition. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses across the nation. The first edition includes excerpts from speeches delivered in North Dakota, New Hampshire, New York, and Virginia.
VA Gov Wants Additional $10M for Entrepreneurship, Workforce Measures
Through a combination of new funding in the current budget and legislative measures aimed at coordinating state efforts and measuring progress, Gov. Bob McDonnell hopes to showcase Virginia as the premier destination for entrepreneurs to start or relocate a business. New funding, to the tune of nearly $10 million, would be used to establish a regional accelerator grant program, cybersecurity accelerator, and career pathways development program, among others.
TBED People and Orgs
Leslie Guice officially was approved by the University of Louisiana System Board of Supervisors to become the 14th president of Louisiana Tech University. Guice will take office July 1, 2013.
Camille Saltman has joined MD Revolution as president. Saltman was previously president of CONNECT and continues to be a member of CONNECT's board of directors.
To Spur Regional Economic Growth, Community Colleges Look Beyond National Graduation Goals
In July 2009, President Obama challenged community colleges to graduate an additional five million students by 2020. According to the president's speech, community colleges uniquely are positioned to fuel the future of U.S. competiveness by developing an educated, skilled workforce to address the needs of a 21st century workplace.
Share of U.S. Venture Capital Dollars, Deals by State, 2007-2012
After dipping just under 50 percent in 2011, California reclaimed its spot as the site of a majority of U.S. venture capital investment last year, according to the National Venture Capital Association/PricewaterhouseCoopers Moneytree Survey. About 53 percent of all U.S. venture capital dollars were invested in California companies in 2012, the largest share captured by the state since the annual survey began in 1995.
PA One Step Closer to Budget Deal; HI, NM, VA Govs Outline Spending Plans
While many states have begun negotiations on budget plans for FY17 and beyond, Pennsylvania has made some progress on FY16 spending. Gov. Tom Wolf signed a partial budget that funded many agencies and programs related to economic development, but that did not include higher education funding and other operations. In the coming months, SSTI will review gubernatorial addresses and budget proposals related to economic development. This week, we highlight developments in Hawaii, New Mexico, Pennsylvania and Virginia.
Workforce Efforts in AL, TX, VA Look to Build, Maintain Talent Pipelines
While the recent Job Openings and Labor Turnover Survey (JOLTS) has some economists concerned that the U.S. economy is running out of qualified workers to fill existing openings, several states have announced workforce programs that are intended to address the skills-gap and build the talent pipeline in their respective states.
Tech Talkin’ Govs: CA, KY, VT Govs Pitch Energy Goals, Higher Ed Reform To Spur Economic Growth
Now in its 15th year, 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. The first edition includes excerpts from speeches delivered in California, Kentucky, and Vermont.
State Budgets Target Investments in Workforce, Higher Education
As governors around the country begin their newest terms, their proposed budgets are beginning to take shape. Although few governors specifically target technology based economic development, after the first wave of budgets a variety of initiatives related to workforce development and higher education have garnered support.
Tech Talkin’ Govs: Energy, Workforce Initiatives Prominently Featured in Gubernatorial Addresses
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.
Have State Stem Cell Programs Been Effective in Boosting Research?
Over the past decade stem cell research has been touted as a game-changer in the life sciences and a potential fount of new biomedical innovations. As a result, several states have launched targeted programs to support stem cell research, despite the controversy that tends to surround the field. New research suggests that these programs have been effective at increasing the output of researchers in their respective states.
Useful Stats: Share of U.S. Venture Capital Investment by State, 2009-2014
California-based companies received about 56 percent of all U.S. venture capital dollars in 2014, the state's highest share of venture activity since the dot com boom of the early 2000s. Over the past 15 years, investment activity has steadily become more concentrated in California and a few other states. In 2009, about 67 percent of all deals and 74 percent of venture capital dollars flowed to the top five states. By 2014, those states' share of venture dollars grew to 80 percent, according to NVCA/Pricewaterhouse Coopers data.
States Seek Slice of Growing Unmanned Aircraft Industry
As the Federal Aviation Administration continues to propose regulations around the fledging unmanned aircraft system (UAS) industry in order to ensure that it integrates into the current system as well as possible, states are beginning to act in order to improve their own competitiveness.
U.S. Venture Capital on Track for Historic Year
In the first three quarters of 2015, U.S. venture capital firms have invested $47.2 billion, more than the year-end totals for 17 of the past 20 years, according to new data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC). About $16.3 billion was invested in 1,070 deals in the third quarter, bringing the 2015 total to $47.2 billion in 2,239 deals. Investment activity is on track to reach its highest annual level since 2000, and the second highest year since the beginning of PwC’s Moneytree report.