Having the tools and resources to develop innovative concepts and products and move discoveries from the lab to the marketplace is an essential component for building tech-based economies. Research parks, a place where innovative ideas are borne, partnerships between university and industry are created, and companies grow and create new jobs, provide a foundation for the kind of economic growth necessary to compete in a global economy. Over the past few months, development plans and groundbreaking announcements from research parks across the nation have been made.

Florida's FY11 budget, signed into law last month by Gov. Charlie Crist, replenishes the Innovation Incentive Fund with $75 million. The recruitment fund was immediately tapped by lawmakers for $50 million toward enticing Maine's Jackson Laboratory to open a branch in Collier County, leaving $25 million for other major R&D projects and create high wage jobs throughout Florida. The state has promised the Jackson Lab project an additional $80 million over the next three years if developed.

As many states near the mid-point of their 2012 legislative sessions, we thought it would be a good time to take a look at some of the bills advancing in statehouses that could impact states' efforts to improve economic conditions. Several states are seeking to advance access to capital initiatives as they continue to struggle with declining revenue and tight credit restrictions. The following overview provides a sampling of TBED bills supporting access to capital, R&D enhancements and higher education standards.

Providing Access to Capital

Proposals introduced in Florida and Ohio would have changed the funding model for universities that meet certain benchmarks to elevate their standing for research and innovation. Both proposals ultimately were rejected, however. In Ohio, the state's plan for enterprise universities is on hold, and in Florida Gov. Rick Scott recently vetoed a bill to establish preeminent universities.

A continued trend toward improved fiscal conditions gave rise to targeted and riskier investments in research for several states this legislative session. In particular, lawmakers dedicated funds for life sciences research and for initiatives aimed at commercialization through partnerships with higher education and the private sector. Other states dedicated additional funds to expand promising research and technology-focused initiatives already underway.

Upbeat revenue forecasts and shared economic principles have Republican governors in four states requesting more funds for higher education tied to performance metrics or workforce outcomes. Recent budget proposals introduced in Florida, Ohio, Pennsylvania and Texas focus on competing for talent and jobs through efforts to encourage STEM learning and teaching and incentivizing outcomes such as graduating more students in high-demand fields, conducting research and more. College affordability is addressed through measures that would freeze tuition or cap increases.

Florida lawmakers approved legislation to reorganize economic development efforts by establishing a new government-run agency to coordinate programs and adding divisions to the public-private partnership, Enterprise Florida. Within the newly created Department of Economic Opportunity, lawmakers established a trust fund and approved $125 million for strategic investments.

The U.S. Department of Treasury has released details on its latest funding approvals from the State Small Business Credit Initiative (SSBCI). Eleven states, and Washington, D.C., are slated to receive a portion of the $360 million that will be used to expand state small business lending and capital programs. In order to qualify, states must demonstrate that their relevant programs will generate at least $10 in new private lending for every $1 in federal funding.

E. William (Bill) Colglazier, recently retired executive officer of the National Academy of Sciences and the National Research Council, has been selected the Science and Technology Advisor to Secretary of State Hilary Clinton.

Governors in the Southern states were presented with findings from a new report on the growing gap in middle-skill jobs and urged to adopt a three-part policy framework for reversing the trend during the Southern Governors' Association annual meeting last week in Asheville, NC. The report found that middle-skill jobs account for 51 percent of the region's jobs today, but only about 43 percent of the region's workers are currently trained at this level.

Often credited with contributing significant revenue to states' economies, research parks also house facilities for workforce training and provide resources for tech-based industries, which is especially important as the nation's employment begins to pick up steam. In West Virginia, officials are building a $15 million advanced technology-training center at the state-owned research and technology park, and in Utah, officials recently broke ground on a building that will house engineers and analysts working on the nation's Intercontinental Ballistic Missile program.

Southerners voiced that focusing on innovation and technology-based business operations, supporting entrepreneurship, identifying community asset, developing skilled workforce and increasing community involvement in economic development strategies are vital for the South to recover from the current economic downtown according to a recent report — The Road to Recovery is Named Main Street — from the Southern Growth Policies Board. The report was assembled using comments of over 2,300 citizens from communities across the south.

Alabama then-Governor-elect Robert Bentley on January 3 named former House Speaker Seth Hammett as director of the Alabama Development Office, replacing Interim Director Linda Swann. He also appointed the president of the Birmingham-based Economic Development Partnership of Alabama, Bill Taylor, to lead efforts to grow and retain existing Alabama industries, while at the same time recruiting new businesses to the state.

Bob Crowley, president of the Massachusetts Technology Development Corp., will step down June 30. Crowley has held the position since 2002 and has been with the quasi-public agency since its beginning in 1978.

Mitch Adams, executive director of the Massachusetts Technology Collaborative is resigning after leading the agency for nearly a decade.

Ohio Gov. John Kasich named James Leftwich as the director of the Ohio Department of Development, effective March 25. Leftwich has worked at the Dayton Development Coalition for six years, including three years as president and CEO. Leftwich will take the post previously held by Mark Kvamme, a California venture capitalist named the state's development director in January. Kvamme was appointed director of Job Creation within the governor's office, effective immediately.

The seventh installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Alabama, Florida, Ohio, Pennsylvania, and Rhode Island. The first six installments are available in the Jan. 5, Jan. 12, Jan. 19, Jan.

Enterprise Florida released its latest five-year strategic plan for the state, calling for increased investment in STEM education, university research, commercialization assistance and early-stage capital access programs. Florida must diversify its economy and strengthen its high-tech industries in order to reduce the state’s reliance on population-based growth, according to the report. Enterprise Florida also endorses a cluster-based strategy to promote high-tech industries based on their relative levels of development in the state.

Replenishing the Innovation Incentive Fund and investing in space industry, public research, and green energy technologies are among Gov. Charlie Crist's FY11 budget recommendations to grow the state's innovation economy and establish Florida as a pre-eminent global hub. The governor's budget includes $100 million for the Innovation Incentive Fund, which was established in 2006 to attract R&D companies and create high-wage jobs. The fund was depleted in 2008 (see the May 7, 2008 issue of the Digest).