The sixth installment of the Tech Talkin' Govs series includes highlights from state of the state addresses from governors in Tennessee and West Virginia.

Tennessee

Gov. Phil Bredesen, State of the State Address, Feb. 9, 2009

The Piedmont Triad Research Park laid off Bill Dean, director of the park, and Nancy Johnson, marketing director. Park officials said that the park's project manager and executive assistant also were laid off.

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.

Rebecca Blank, the acting U.S. secretary of Commerce, is expected to be the next chancellor of the University of Wisconsin at Madison. The Board of Regents is scheduled to vote on the recommendation April 5.

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.

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.

In a special session on Tuesday, the Vermont Legislature enacted the state's FY10 budget, overriding last week's veto by Governor Jim Douglas. The budget eliminates or reduces funding for many programs related to economic development and TBED, cutbacks which were cited as concerns by Gov. Douglas in his veto announcement.

As governors across the nation seek to fill record deficits, many new and longstanding TBED initiatives are facing challenging cuts or elimination. At the same time, governors are shoring up support for critical, targeted investments in the economy that they say are needed now more than ever.

With the opportunity presented by a $732 million budget surplus, Gov. Linda Lingle wants Hawai`i to shift its public investment philosophy away from land development and toward encouraging, nurturing and rewarding innovation, creativity, entrepreneurship and risk-taking. Most of Gov. Lingle's State of the State Address on Jan.

Using one-time lottery surplus funds available for fiscal year 2008, Gov. Joe Manchin wants to invest $80 million in world-class research and specialized job training to propel the state toward a knowledge-based economy. The proposal was unveiled to lawmakers during Gov. Manchin’s State-of-the-State Address last week in conjunction with the fiscal year 2009 budget recommendation.

While legislators did not agree to all of Gov. Linda Lingle’s Innovation Initiative – including a $100 million innovation fund - some of the governor’s original concepts emerged from several other bills at the close of the 2007 legislative session last week.

 

In an era in which many companies maintain a web presence before their first technology hits the market, broadband access has become an essential ingredient for high-tech business and growth. In many states, however, the need for broadband access has widened the high-tech achievement gap between urban and rural areas.

An upcoming report finds that Hawaiian high-tech industries contributed $3 billion to the state's economy in 2007.

Gov. Linda Lingle announced 18 appointments to the Hawaii Innovation Council, which will work with groups statewide to increase the economic impact of Hawaii's innovation resources. Co-chairmen include Mark Benioff, Ron Higgins and Jay Shidler.