The following overview is a synopsis of select recent announcements from research parks across the nation, including groundbreakings and development plans to support vibrant regional economies based on science, technology and innovation. 

Lonnie Emard has been named interim director of the Consortium for Enterprise Systems Management, a recently formed collaboration of business, academic and economic development organizations intended to build information technology (IT) opportunities in South Carolina.

Indiana University is launching a $10 million venture capital fund to invest in technology companies coming out of the university. Half of the fund will be dedicated to seed- and early-stage companies, while the other $5 million will support later-stage firms. Last month the university dedicated a new $10 million Innovation Center, which will work with the fund to support university-affiliated companies.  Read more at: http://newsinfo.iu.edu/news/page/normal/12745.html

Indiana University is launching a $10 million venture capital fund to invest in technology companies coming out of the university. Half of the fund will be dedicated to seed- and early-stage companies, while the other $5 million will support later-stage firms. Last month the university dedicated a new $10 million Innovation Center, which will work with the fund to support university-affiliated companies.  Read more at: http://newsinfo.iu.edu/news/page/normal/12745.html

Robert Fritzinger has been named the director of the new SUNY Fredonia Business Technology Incubator.

Ioanna Morfessis, a consultant from Phoenix, was unanimously appointed as the executive director of the Rhode Island Economic Development Corporation by the board of directors. Morfessis is expected to start work in January, and will serve as acting director until the Senate confirms her appointment.

While maintaining a $1 billion reserve over the next biennium, the 2009-11 budget signed into law by Gov. Mitch Daniels reduces by half funding for the state's 21st Century Research and Technology Fund and appropriates only a fraction of the requested $70 million for the Indiana Innovation Alliance, an initiative to grow the state's life science industries.

Hawaii Governor Linda Lingle recently allowed a significant revision to the state's High-Technology Investment Tax Credits program become law without her signature. The program, which has provided a 100 percent credit on high-tech investments since 2001, now will cap its credits at 80 percent. Investors also will no longer be able to transfer their credits to other investors. The revisions will apply through December 2010, when the tax credit program is scheduled to expire.

Mark Lytle has been named the University System of Georgia's new vice chancellor for economic development.

Frederick Cartwright has been appointed the executive director of the Clemson University International Center for Automotive Research.

Chris Coburn, the founding executive director of Cleveland Clinic Innovations, is leaving at the end of May to join Boston-based Partners Healthcare, the largest healthcare system in Massachusetts.

Mary Jo White has been confirmed by the Senate as the new head of the Securities and Exchange Commission.

Envisioned as a comprehensive state-level program to support an entrepreneurial ecosystem, the HI Growth Initiative was approved by lawmakers to diversify the state's economy and promote the development of high-growth, entrepreneurial businesses. Backed by Gov. Neil Abercrombie, the initiative has three main objectives focused on helping entrepreneurs commercialize intellectual property, access business mentors, network with global investors, and gain access to follow-on capital. Funds will be managed by the Hawaii Strategic Development Corporation.

Bill Kirkland will head the new Office of Economic Engagement that will begin operations July 1 at the University of South Carolina. The new entity will facilitate business development statewide, and work through USC&'s seven regional campuses.

John Carey, a former state representative, was appointed by Gov. John Kasich as the chancellor of the Ohio Board of Regents.

With a commitment of $25 million over the next two years to establish a biosciences institute, Indiana lawmakers gave their stamp of approval to a major policy goal touted by Gov. Mike Pence during the campaign. The governor and lawmakers hope to build an endowment of $300 million to $400 million over the next five to seven years drawn from corporate and philanthropic sources.

Governor Mike Pence has released details on Indiana's statewide public-private collaborative life sciences partnership. The estimated $360 million Indiana Biosciences Research Institute will receive $25 million for the biennium from the state of Indiana to cover startup costs, which will be augmented by another $25 million from industry and philanthropic sources (see the May 8 issue).

With less money to spend on risky endeavors, many states are taking more targeted approaches toward economic development, seeking out sectors of the economy they consider most likely to grow and be sustainable beyond current conditions. In Hawaii, for example, lawmakers established an Aerospace Advisory Committee this session seeking long-term growth in aerospace-related industries.

J. Mike Books is leaving his post with the Indiana Health Industry Forum to become the first economic development director for the city of Columbia, Missouri. He also will serve as president of the Regional Economic Development Inc. Brooks will assume his new responsibilities on July 15.

During his presentation of the fiscal year 2009-11 budget last week, Gov. Mitch Daniels said the state's weakening economy will require the suspension of funds for some initiatives supported by his administration.

The South Carolina Centers of Economic Excellence (CoEE) Program, an initiative to recruit star scientists into distinct research clusters at the state's three research universities, has gained $205 million in competitive res