Recent Research: Measuring the Effectiveness of State R&D Tax Credits
Two weeks ago, Idaho Gov. C.L. “Butch” Otter vetoed legislation to repeal state R&D income tax credits for Idaho companies. Among his reasons for the veto, Gov. Otter claimed removing the credits would put Idaho at a competitive disadvantage because surrounding states over similar incentives. Was he right?
Tech Talkin’ Govs 2018: AZ, FL, IA, ID, MS, NY, VT present state of the state addresses
SSTI’s Tech Talkin’ Govs feature returns as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this first installment, we present excerpts from governors in Arizona, Florida, Indiana, Iowa, Mississippi, New York and Vermont.
SSTI’s Tech Talkin’ Govs feature returns as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this first installment, we present excerpts from governors in Arizona, Florida, Indiana, Iowa, Mississippi, New York and Vermont.
With the seat up for election in 36 states this fall, many governors are delivering what may be their last state of the state address (see last week’s story on the definite turnover in 17 states and another 19 eligible for reelection). Some governors are more specific in their addresses regarding the innovation economy, such as Idaho where its governor is seeking additional money for college and career advising, an additional $5 million for the Opportunity Scholarship program, and a new position to coordinate the work of all its higher education institutions. Iowa’s governor is calling on the legislature to pass the Future Ready Iowa Act and proposes a new scholarship for Iowans who decide to pursue up to a two-year degree in a high-demand field as well as more money for apprenticeships. Taxes are taking a large part of the discussion for many governors. For instance, the Florida governor is hoping for a constitutional amendment to make it more difficult for future legislators to raise taxes, while in New York, the governor says the state will challenge the federal tax code.
CT, WI sign budgets following difficult negotiations
Connecticut and Wisconsin both ended their protracted budget negotiations with the governors signing budgets in late September and late October. Faced with budget constraints and uncertainty about the spending plan, Connecticut’s funding for economic and community development is decreasing along with funding for the state’s MEP center and Manufacturing Supply Chain program, with no general funds provided for them in the second year of the biennium.
Connecticut and Wisconsin both ended their protracted budget negotiations with the governors signing budgets in late September and late October. Faced with budget constraints and uncertainty about the spending plan, Connecticut’s funding for economic and community development is decreasing along with funding for the state’s MEP center and Manufacturing Supply Chain program, with no general funds provided for them in the second year of the biennium. Wisconsin appears to be maintaining its status quo on TBED-related initiatives and has increased funding to universities that increase enrollments for “high-demand” degree programs, making $5 million available on a competitive basis.
Tech Talkin’ Govs 2018, part 6: AR, CT, ME, WY look to boost economies
SSTI’s Tech Talkin’ Govs feature continues as governors across the country are wrapping up their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses.
SSTI’s Tech Talkin’ Govs feature continues as governors across the country are wrapping up their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses.
In this latest installment of Tech Talkin’ Govs, Arkansas is celebrating its low unemployment while Maine says it will focus on a commercialization bond and grow the workforce in part through a student debt relief program. Connecticut wants new goals for clean energy and Wyoming’s focus on economic diversification continues with the governor there calling for full funding for the ENDOW initiative.
Tech Talkin’ Govs, part 3: Economic development, broadband, education and climate change driving governors’ innovation agendas
This week, we see broadband investment in Indiana; education initiatives that begin with pre-K and extend beyond high school in a number of states; lifelong learning approaches; apprenticeships; climate change and green energy initiatives in Nevada and Washington; and more on governors’ agendas. As governors across the country continue to deliver their state of the state addresses to their legislatures and constituents, SSTI monitors the speeches for news of innovation related initiatives.
Tech Talkin’ Govs 2019, part 2: Broadband, education, climate change fixes on governors’ radars
Reviewing another slate of governors’ state of the state and inaugural addresses reveals some recurring themes. With a focus on maintaining gains made since the Great Recession and increasing budgets, many governors are holding off on major new initiatives, but are proposing means to increase broadband access, diversify their economies, build renewable energy efforts, and increase their rainy day funds in case of an economic downturn.
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.
Free tuition offerings continue to evolve in states across the US
New Mexico Gov. Michelle Lujan Grisham became the latest governor to propose a plan for free tuition, with what has been called the “one of the most ambitious attempts to make higher education more accessible.” If approved, the plan would allow in-state students to attend any of the 29 state public colleges or universities, regardless of income. It is designed as a “last-dollar” program.
College mergers a prescription in meeting higher ed headaches
Declining enrollments, higher costs and limited state funding continue to challenge higher education institutions, and possible mergers continue to surface as an option to meeting those challenges. In Pennsylvania, a new study sponsored by the Pennsylvania Legislative Budget and Finance Committee identifies options to help ensure the sustainability of the State System of Higher Education, and mergers factor into those considerations.
States launching innovation initiatives across the country
Proving that innovation is appealing to states regardless of their size or political leanings, new initiatives in both Democratic and Republican states, as well as large states like California and small states like Vermont, are driving innovation agendas into action in areas ranging from clean energy and aid for students and colleges, to new venture capital investments and bond financing to support business collaborations with higher education to help translate cutting-edge research into products and companies.
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.
State actions in 2019: Opportunity Zones
In 2019, the administrations and legislatures in many states grappled with if and how to adjust state economic development initiatives to leverage the federal Opportunity Zone (OZ) program. The actions of 12 states that implemented new activities are described below.
Workforce development key to state economic development initiatives
A report on employment trends from hiring firm Robert Half found that 2020 presents greater challenges for employers looking to expand their workforce as the country’s labor market is near full employment and job openings remain at high levels.
Tech Talkin’ Govs 2020: AL, CT, MD, OK, PA, TN, WY look to education, workforce and energy initiatives
With nearly 40 of the state governors now having given a state of the state or budget address, innovation themes continue to echo in their reviews of past accomplishments and plans for the coming year.
States take the lead on climate change
When Gov. Janet Mills addressed the United Nations General Assembly on Sept. 23, it was the first time a sitting governor of Maine has been asked to address the body. She had been invited as part of her participation in the UN Climate Action Summit 2019, and has made tackling climate change and embracing renewable energy key priorities of her administration. She is not the only governor stepping into the role where the federal government has backed out.
States address workforce issues pushed to forefront by pandemic
Faced with the sudden, unprecedented fallout from the COVID-19 pandemic, Gov. Ned Lamont last month launched a new resource to provide workers and businesses in Connecticut with career tools, including partnering with Indeed and workforce training providers.
Tech Talkin’ Govs, part 7: States look to educated populace to help build prosperity
As the states turn to tackling their budgets, governors are presenting their spending and revenue proposals, and SSTI continues to monitor these. Budget constraints and deficits are problems for governors in Connecticut and Illinois, and Connecticut’s governor is proposing expanding the sales tax base while focusing on loan forgiveness and clean energy. Education is on the agenda in Illinois where the governor is hoping to build prosperity through skills training and college affordability.
People
Peter Longo was appointed president and executive director of Connecticut Innovations. Longo previously served as the organization's deputy director and acting executive director.
Tech Talkin’ Govs, Part IV
This is the fourth installment of SSTI’s look at the Inaugural, Budget and State of the State Addresses delivered in the past week. Earlier installments, published Jan. 29, Jan. 15 and Jan. 8, are available through: http://www.ssti.org/Digest/2007/headlines07.htm
Selected excerpts of the most recent batch of speeches are provided below:
Connecticut
Industry Leaders to Steer New Iowa Innovation Council
Gov. Chet Culver last week signed legislation creating the Iowa Innovation Council to advise the state's Department of Economic Development on policies that enhance innovation and entrepreneurship in high-growth industries such as advanced manufacturing, bioscience, and information technology. The council will be led by a group of volunteer private business leaders with expertise in the targeted industry sectors and charged with creating a strategic plan for implementing specific policies and coordinating state government applications for federal funds related to R&D.
Legislative Wrap Up: Idaho, Iowa, South Dakota Pass Budgets
Lawmakers in Idaho, Iowa and South Dakota recently passed budgets for the upcoming fiscal year providing funds to help stabilize higher education funding, support research projects related to renewable energy R&D, and provide temporary operational support for an underground deep science laboratory.
Idaho
People
The Maryland Technology Development Corp. has appointed Renée Winsky as its new executive director.
People & TBED Organizations
Publisher's Note: SSTI notes with much sadness the March 5 passing of Indiana State Sen. David Ford, following a battle with pancreatic cancer. David was a good friend not only of SSTI's, but also of the tech-based economic development community across the nation. In addition to being a tireless and cheerful advocate for investing in science and technology, he was also a gentleman in the true sense of the word, and we miss him greatly.
Connecticut Releases State Technology Study
The Role of Technology in the Connecticut Economy, a new report produced by the Connecticut Technology Council (CTC), provides a comprehensive analysis of the role of technology in the state's economy. Overall, the report reveals both a strong technology contribution to the Connecticut economy, as well as the state's dependence on technology for achieving its economic potential.
People
After seven months on the job, Connecticut Innovations President and CEO Chandler Howard is leaving to pursue an opportunity to establish a community bank in New Haven.