Job Corner
The Natural Energy Laboratory of Hawaii Authority, a semi-autonomous Hawaii State agency that developed and manages a globally unique and innovative technology incubation and commercial park in Kailua-Kona on the island of Hawaii, currently is seeking an Executive Director.
PA One Step Closer to Budget Deal; HI, NM, VA Govs Outline Spending Plans
While many states have begun negotiations on budget plans for FY17 and beyond, Pennsylvania has made some progress on FY16 spending. Gov. Tom Wolf signed a partial budget that funded many agencies and programs related to economic development, but that did not include higher education funding and other operations. In the coming months, SSTI will review gubernatorial addresses and budget proposals related to economic development. This week, we highlight developments in Hawaii, New Mexico, Pennsylvania and Virginia.
States Seek Slice of Growing Unmanned Aircraft Industry
As the Federal Aviation Administration continues to propose regulations around the fledging unmanned aircraft system (UAS) industry in order to ensure that it integrates into the current system as well as possible, states are beginning to act in order to improve their own competitiveness.
17 Governors Sign Accord to Promote Clean Energy, Economic Prosperity
A bipartisan group of 17 governors signed the Governors’ Accord for a New Energy Future – a joint commitment to support the deployment of renewable, cleaner and more efficient energy technologies and other solutions to make the U.S. economy more productive and resilient as well as spur job creation in member states.
Early Stage Capital Measures Pass in KS, TN, and WV, In Limbo for AZ and ND
A mixture of success and trepidation accompanied 2016 legislation introduced in several states to create, extend, or recapitalize angel tax credit programs. While legislation in Arizona’s legislature failed due to a lack of support, angel tax credit bills in Kansas and Tennessee passed easily with broad support from their governors, lawmakers, and the public. In North Dakota, the state’s angel tax credit program faces an unclear future due to concerns about transparency and oversight. To stimulate investments in West Virginia’s startup community, Gov.
Several energy cluster states in recession
The perils of regional economies being too dependent on single industry clusters, particularly as it affects the financing of state governments, are playing out in the Great Plains. Kansas, New Mexico, North Dakota, Oklahoma and Wyoming have been or still are experiencing recessions, beginning as early as spring 2015 for two, according to a new analysis by Jason P. Brown for the Tenth Federal Reserve District.
IA, ND, NY state budgets hit and miss on innovation funding
SSTI continues its reporting on actions taken by state legislatures to invest in economic growth through science, technology, innovation and entrepreneurship. This week, we look at the budgets passed and signed by governors in Iowa, New York and North Dakota, finding mostly level and some increased funding for innovation programs in Iowa and New York – including free tuition at in-state colleges for qualifying residents – while North Dakota is looking at decreased funding for programs.
Tech Talkin' Govs, Part I
Hawaii Expected to Limit Tax Credits for Technology Investments
North Dakota Surplus Prompts Additional Spending for TBED Initiatives
Election Preview: Voters to Decide on Statewide TBED Issues
While the Presidential election takes center stage on November 4, voters in several states also will cast their votes on statewide ballot issues affecting the TBED community. In addition to the 11 gubernatorial races and more than 5,800 state legislative seats up for grabs, voters across the nation will consider measures to provide funding for public education, expand investment in alternative and renewable energy, lift restrictions on stem-cell research, and eliminate income tax and state spending caps.
Useful Stats: Per Capita Personal Income by State, 2010-2015
North Dakota led the country in per capita personal income gains between 2010-2015, according to data released by the Bureau of Economic Analysis (BEA). While average (mean) incomes rose 18.4 percent around the U.S. during that time, North Dakota incomes rose by 26.8 percent from $42,964 in 2010 to $54,376 in 2015. Changes in mean income can obscure discrepancies between demographic groups and concentration of wealth, but demonstrate some of the key economic trends of the last few years.
TBED People and Organizations
Karl Fooks, a past managing director for J.P. Morgan & Co. in Asia, is the new president of the Hawaii Strategic Development Corporation. Fooks replaces John Chock who retired last year.
People
Legislative Deal Suspends HI High-Tech Tax Credits for 3 Years
Saving the state an estimated $93 million a year, Hawaii House and Senate negotiators agreed to suspend the High-Tech Tax Credit, known as Act 221, for three years, reports the Honolulu Advertiser. Lawmakers also agreed to repeal the tax credits in May rather than at the end of December, the article states.
North Dakota Centers of Excellence: $16.56 Impact for Each State Dollar spent So Far
Providing strong evidence for how public investments in research and TBED pay off even on a short time horizon, a recent impact analysis calculated the total impact from the first $19.9 million North Dakota spent over the past four years for the establishment of 20 Centers of Excellence across the state. The analysts from North Dakota State University reported a combined cumulative impact of $329.5 million for the 30 months ending June 2009. The total includes both direct reported results and estimates for indirect impacts.
People on the Move & TBED Organization Updates
Robbie Melton has been named the executive director and CEO of the High Technology Development Corporation.
Gov. Bobby Jindal has appointed Louisiana Tech University president Les Guice to chair the Louisiana Innovation Council.
ND-MN Group Develops Five-Year Plan to Sustain Prosperous Economy
While it is common for states, regions or cities to develop economic strategies when times get rough, the Valley Prosperity Partnership hopes to capitalize on the unprecedented job growth the Red River Valley has experienced in recent years to build a more innovative economy. A new, five-year action agenda, drafted in partnership with Fourth Economy, offers many possible action items for the region, which includes parts of North Dakota and Minnesota.
North Dakota Expands Innovate ND Entrepreneurship Program
North Dakota has announced it will relaunch its Innovate ND business venture competition as a more expansive suite of services for innovative startups and entrepreneurs. Participants will receive vouchers for up to $2,500 to help pay for coaching and consulting services at an entrepreneurial center, development of a business plan or building a prototype. Education services also will be available, including biannual Entrepreneur Boot Camps. Read the announcement…
State budget proposals see some increases for innovation, cuts in LA
In this week’s review of state budget proposals, Alabama and Arizona’s governors are proposing funding increases for higher education, while Louisiana is facing cuts due to a budget shortfall. In Hawaii, the governor is seeking supplemental funding for the Hawaii Technology Development Corp to expand its grant making capacity, while Idaho and South Carolina’s governors are seeking more money for workforce programs.
Alabama
In this week’s review of state budget proposals, Alabama and Arizona’s governors are proposing funding increases for higher education, while Louisiana is facing cuts due to a budget shortfall. In Hawaii, the governor is seeking supplemental funding for the Hawaii Technology Development Corp to expand its grant making capacity, while Idaho and South Carolina’s governors are seeking more money for workforce programs.
HI Lawmakers Urged to Help Spark Startup Scene with $20M Investment
In his State of the State address, Gov. Neil Abercrombie stressed the importance of investing in innovation to diversify the state's economy and grow Hawaii's economic base, traditionally rooted in military and tourism. To this end, the governor wants to back startup companies with $20 million over two years for what he considers the critical building blocks of an innovation ecosystem: research commercialization, entrepreneur mentoring and the mobilization of startup investment capital.
U.S. Navy Invests $30M in HI Cleantech Accelerator
The U.S. Department of Defense Office of Naval Research has announced a $30 million investment in Energy Excelerator, an accelerator for cleantech companies within the Pacific International Center for High Technology Research (PICHTR). Energy Excelerator originally launched three years ago with $10 million in seed funding from the Department of Energy.
TBED People and Orgs
President Obama launched the Advanced Manufacturing Partnership Steering Committee “2.0.” Former SSTI board member Luis Proenza, president of The University of Akron is part of the steering committee chaired by Andrew Liveris, president, chairman, and CEO of the Dow Chemical Company, and Rafael Reif, president of the Massachusetts Institute of Technology.
Hawaii Dedicates $6M to Pursue High-Growth Opportunities
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.
Private Sector Partnerships Emphasized in North Dakota's Centers of Excellence Successor Program
A new program that builds upon the successes of North Dakota's Centers of Excellence and Research Excellence programs will fund up to half of the cost of R&D and commercialization projects conducted by the state's research universities. Under Research North Dakota (RND), the development and commercialization of new products will be achieved on a project-by-project basis and state funds will be matched with private-sector cash investment.