Colorado CAPCO Demise Leads to Questions for Other States
The creation and subsidization of CAPCOs, certified capital corporations intended to encourage venture capital (VC) investment, is one of the more controversial policies some states have adopted to encourage the growth of tech-based economies. With substantial revisions to Colorado's short CAPCO experiment this month, questions are raised once again for other states that either have passed or are considering various approaches to increasing the availability of risk capital for new tech firms.
People
Paul Ray has left his position as director of the Colorado Office of Life Sciences and Biotechnology.
Hawaii's HTDC Announces Statewide Incubation Services Program
Secures State as Pilot Site for FastTrac™
Coming soon to an island near you — business development services. That could be the sales pitch for a new development within the High Technology Development Corporation (HTDC), Hawaii's lead tech-based economic development agency.
Party Control Changes in Several State Legislative Chambers
Unofficial results posted today on the National Conference of State Legislatures (NCSL) website reveals political control of at least 10 of the country's 99 state legislative chambers (Nebraska has a unicameral legislature resulting in the odd total for the country) changed parties in yesterday's election.
People
Brian Vogt has been appointed director of Colorado's Office of Economic Development and International Trade.
Tech Talkin' Govs III
This is the third in a series of articles as SSTI continues its look at the prominence of tech-based economic development in the Inaugural, State of the State and Budget Addresses given by the nation's governors. Highlights from this week's speeches are provided below.
People
Joe May, president of Colorado's community college system, announced his retirement, effective in February.
People
Robert Olsen, the director of the Fitzsimons Redevelopment Authority, will become the head of the Economic Development Administration's regional office in Denver.
People
Leroy Williams has been named as the new technology secretary for the state of Colorado. Williams, previously the state's chief information officer, will manage the Governor's Office of Innovation and Technology.
People & TBED Organizations
Andre Pettigrew was named the new head of economic development for the City of Denver. Pettigrew replaces John Huggins, who left earlier this year.
People & TBED Organizations
Seth Porter was selected as deputy director for Colorado Gov. Bill Ritter's Energy Office.
Colorado Project Assembles Suite of Space-Tech Business Services
While dozens of states have instituted clean-tech strategies in order to cash in on the high-tech wave of the future, some are looking even further ahead. In several western states, private space travel and companies are drawing the attention of political leaders, researchers and investors eager to pioneer an industry that may still be many years away from creating dividends.
People and Organizational News
Colorado State Representative Tim Fritz is resigning his seat to become director of Colorado's Office of Aerospace and Aeronautics.
People and Organizational News
John Hansen is the new Secretary of Technology for the State of Colorado. Hansen retains his position as Chief Technology Officer as well.
TBED Comings and Goings
Colorado Governor Bill Owens has appointed Tim Fritz as the director of the Office of Aerospace and Aeronautics.
People
Marc Holtzman, Colorado's former science and technology advisor, is taking the position as president of Denver University.
EDA Names Winners of Excellence in Economic Development Awards
The Economic Development Administration (EDA) recently announced the recipients of its 2003 Excellence in Economic Development Awards. A total of eight award-winners were named across seven broad award categories. Those pocketing awards in Innovation and Technology-led Economic Development, respectively, are described below.
Innovation
People
Colorado Governor Bill Owens has appointed Paul Ray as the state's first director of biosciences.
Colorado Prepares Biotech Strategy
Earlier this week, Colorado Chief Technology Officer John Hansen released a statewide plan to develop biotechnology and life sciences industry sectors in Colorado. Colorado's Place in the Sun: A Bioscience Future provides analysis, direction and recommended actions for three key sector areas — workforce development, business development, and research development.
Hawaii's HTDC Launches New Tech Portal
Earlier this week, the High Technology Development Corporation (HTDC) launched HiTechHawaii.com, the state's newest and most comprehensive high technology web portal.
Colorado Names State's First Aerospace Advocate
Governor Bill Owen has named Trip Carter as the state's first aerospace advocate, the state's latest effort to help the industry, which employs approximately 110,000 residents and has $4 billion in revenues. Only Florida, California and Texas have larger stakes in the aerospace industry. As a result, the state has undertaken several initiatives over the past two years to develop and promote the industry's health as it goes through a transition period.
Organizational Updates
The State of Colorado is creating an office to recruit and assist space technology businesses, the Associated Press reported. Approximately $240,000 has been raised for the office, which will be led by a yet-to-be-named "Colorado space advocate." One fourth of the funds are provided by the state, with the balance received from the private sector.
Colorado Exploring Incentives for Math and Science Teachers
Colorado leaders want to encourage more college students to go into science and teaching and two recent proposals, coming from Governor Bill Owens and the state's Commission on Higher Education, are designed to do just that.
People
The Northern Colorado Economic Development Corp. has named Larry Penley, president of Colorado State University, the recipient of its first Regional Economic Development Excellence Award.
Hawaii Commission Recommends Greater Accountability for High-Tech Investment Tax Credit Program
A recent report from Hawaii’s Tax Review Commission recommends the state eliminate or drastically overhaul its five-year old tax credit for high-tech investors. According to the report, the current credit provides no clear advantage to the state and appears open to taxpayer abuse. The commission was particularly troubled by the lack of data provided by taxpayers who were approved for the credit and by the lack of transparency concerning the credit within the state’s Department of Taxation.