With 26 percent more of its workforce involved in information technology (IT) than the national average and with IT-producing industries growing faster in the state than the national average, Connecticut has possibly felt the pinch of the IT worker shortage more than other parts of the country. Add to that the fact that the number of IT-related graduates from the state’s universities and community colleges declined during the late 1990s.

Successful companies are forced to change business strategies as market realities shift. It happens all of the time. Browse the business section of your local bookstore and you'll see dozens of titles preaching the need for companies to adopt, adapt and innovate. The continuing restructuring of the U.S. durable manufacturing sector, as alluded to in the Useful Stats piece below, is a vivid example of the importance of abandoning old mindsets for industry: change or die.

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.

Carolina Cruz is the first director of the Louisiana Immersive Technologies Enterprise, a $20 million research facility developed jointly by the University of Louisiana at Lafayette and the Louisiana Economic Development Authority.

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.

The first four installments of SSTI's look at how tech-based economic development (TBED) will play in the 2006 legislative priorities of the governors can be found in the Digest archives at: http://www.ssti.org/Digest/digest.htm

Louisiana

After only ten years of investments, Connecticut Innovations, Inc. achieved a net income of $21.4 million in 1999, according to Connecticut Innovations’ latest annual report. The corporation reversed a deficit of over $20 million in retained earnings accumulated through 1995 to a positive $24.7 million by June 30, 1999. The corporation's record provides one of the strongest examples of successful state-funded, technology-based seed and venture capital investment to date.

The 2000 session of the Connecticut legislature proved to be an active and favorable one for the state’s technology community and Connecticut Innovations, Inc. The Connecticut Technology Council summarized the session this way, “For the first time in recent memory, the debate at the Capitol was not over whether legislation affecting tech companies would pass, but which legislation affecting tech companies would pass.”

Citing the need to attract knowledge- and technology-based businesses to the state, Louisiana Governor Mike Foster has proposed converting the state’s Department of Economic Development (DED) into Louisiana, Inc., a private, state-chartered, not-for-profit corporation.

They may be separated by more than 6,000 miles, but tech-based economic development initiatives in Hawaii and Connecticut have adopted similar strategies to encourage the commercialization of alternative energy technologies: they're buying them. 

Nadia Goodman, the Louisiana Department of Economic Development's Director of Policy, Planning and Technology, has announced that she is retiring effective June 30. In addition to being very active within the Science and Technology Council of the States (STCS), Mrs. Goodman has been a good friend of SSTI's since its creation. SSTI staff trust that she will continue to provide advice and offer insights from her new residence in Mexico.

Boston

With the sustained depth of the recession, the IT crash, the rapid growth in unemployment and the speculative office construction craze of the late 1990s, one would expect office vacancies to climb and property lease rates to edge down in many cities. Following this thought further might suggest, with cheaper office space available, the need for publicly supported low-rent technology incubator space would decrease.

The New Hampshire High Technology Council has announced Paul Houle is the new president and chief executive officer and Mary Collins will serve as executive vice president and chief operating officer.

Dennis Lower of the Biomedical Research Foundation of Northwest Louisiana is the new leader of the Louisiana Economic Development Council.

The 2002 Special Session of the Louisiana State Legislature has yielded a series of tax credits that aim to benefit biotechnology companies in Louisiana, promote commercialization of technology, encourage R&D investments, and make the state more competitive in information technology. The tax credits are as follows:

Sometimes, the economic advantages of consolidating state and local initiatives addressing different elements of building tech-based economies outweighs any potential dilution of specific efforts. Other times, the addition of an entirely new entity is required to provide concentrated focus on specific needs or activities. Here are a few of the most recent examples of the realignment of the TBED community:

George Bald is returning to serve as Commissioner of the New Hampshire Department of Resources and Economic Development. Bald served in the position from 1998-2004.

Formerly the marketing manager for a local software firm, Mary Bergeron recently was named the new executive director of the Baton Rouge Technology Council.