connectkentucky Plan Prepares State for Tech-driven Economy
Sixty-nine percent of Kentucky businesses use computer technology to handle some of their business functions, but only 36 percent use the Internet and little more than 20 percent have a website, according to a report released by Governor Paul Patton's Office for the New Economy. Kentucky Prepares for the Networked World, which details computer, Internet and website use among the state's businesses, shows more than 50 percent see "no need" to use the Internet.
People
Iowa Governor Tom Vilsack announced that the Director of the Iowa Department of Economic Development, C.J. Niles, will be stepping down effective December 31. Mary Lawyer, the department's chief of staff, will serve as interim director.
People
Mary Lawyer is leaving the Iowa Department of Economic Development to be the president and CEO of Des Moines' Downtown Community Alliance, effective Sept. 14.
People
The Northeast Iowa Business Accelerator named Brian Dalziel as its first regional director.
Kentucky Aims to Achieve World-Class Status in Life Sciences
With the proper utilization of existing resources, the development of key new programs, strong leadership within state government and coordinated efforts among all programs and stakeholders, Kentucky has the opportunity to become a world leader in specific niches of the life sciences industry, says a report from the Governor's Life Sciences Consortium.
People
Gov. Tom Vilsack announced that Mary Lawyer will serve as acting director of the Iowa Department of Economic Development. Mike Blouin resigned from the position last week to launch his campaign to become the state's next governor.
TBED People on the Move
Kentucky Governor Paul E. Patton is the new chairman of the National Governors' Association. Idaho Governor Dirk Kempthorne was named vice chairman. Patton has identified education as his highest priority while serving the one-year term as chairman.
New State Legislation Gives Green Light to TBED in Kentucky, Oregon
While tight state budgets have slowed the number of tech-based economic development programs being created by states, Kentucky and Oregon have both approved new laws designed to encourage the growth of technology companies.
ISU's Research Park Provides Economic Boon to Iowa
A recent study by Iowa State University researcher David Swenson suggests the ISU Research Park's substantial and diverse economic activity bolsters Iowa's economy. Focusing on current tenants, Swenson's research shows that the park links directly to almost $88 million in total industrial output. Businesses that provide goods and services to park customers and employees are said to generate an additional $46.3 million in economic activity.
SBIC Bill Could Have $200M Impact on VC Availability
U.S. Senator Olympia Snow (R-Maine) recently introduced a bill to boost the flow of venture capital to small businesses by allowing tax-exempt entities, such as pension funds and university endowment funds, to invest in Small Business Investment Companies (SBIC) without incurring unrelated business taxable income.
Brain Drain Update: States Look to Avoid Losing Their Minds
A technically-skilled workforce is one of the elements required for a tech-based economy, so the issue of stopping the brain drain is of critical importance to some regions and states. The choice for some states, it has been observed, is to turn into retirement homes or to retain their college graduates; in short, to avoid losing their minds. Maine, Ohio, and Pennsylvania are just a few of the states that have been looking at the issue.
People
The Bullitt County Economic Development Authority of Kentucky has named Bob Fouts as interim director.
Local TBED Briefs
Iowa: Davenport Sells City Land for Tech Incubator
People
Buddy Buckingham, director of regional planning at Murray State University, will serve as interim director of the new MSU Innovations and Commercialization Center. Buckingham also currently serves in the Kentucky General Assembly.
People
Holmes Foster, chairman of the Iowa Values Fund, has announced his resignation.
People
Kentucky Governor Ernie Fletcher has named Derrick Ramsey as deputy secretary of the Commerce Cabinet.
Collaborative Planning Focuses Regional Development Efforts
Economic development leaders within the Cedar Rapids/Iowa City Technology Corridor have joined other areas of the U.S. in marketing the area as one unified region. Elected representatives from 10 cities and two counties located in the Cedar Rapids/Iowa City Technology Corridor recently signed a joint proclamation as a statement of support for the Corridor’s targeted industry cluster development regional efforts.
NETT Issues Economic Strategy for Northern Kentucky
The New Economy Transition Team (NETT) of the Northern Kentucky Chamber of Commerce has issued a 73-page plan that, if implemented successfully, could position Northern Kentucky as a center for life sciences and information technology, advanced manufacturing and financial services.
Business First Stop Will Assist Appalachian Entrepreneurs in Three-State Region
A new resource for tech-based businesses in rural Ohio, Eastern Kentucky, and West Virginia was launched last week. The Appalachian Regional Entrepreneurship Initiative (AREI) is expanding its efforts to support growth of a technology-based entrepreneurial economy in Appalachia Ohio and neighboring states through a new website, http://www.bizfirststop.com
People
The NASVF Net News reports Alexa Heffernan has been named Executive Director of the Iowa Business Council. Myrt Levin retired in December.
People
Kentucky Governor Paul Patton has appointed Bill Brundage to the serve as the state's first Commissioner for the New Economy. Dr. Brundage will oversee the new Kentucky Innovations Commission, which is attached to the Governor's Office and tasked to oversee the state's $55 million New Economy initiative.
Iowa Researcher Finds Limits to the Economic Impact of Ethanol
In recent years, Iowa, like many midwestern states, has experienced a boom in ethanol production. Iowa's natural competitive advantage in growing and processing corn has helped it to move to the forefront of the emerging biofuels industry. The state provides numerous incentives and assistance programs through its Department of Natural Resources to help spur the creation of ethanol-related companies and jobs.
Reports Examine Two States' Experience with Economic Incentives
Incentive packages to attract companies are nothing new in economic development. In recent years, though, incentives have been used to recruit technology companies, and these incentive packages are growing in scope and complexity, with some in the hundreds of millions of dollars. Two recent reports that take a close look at experiences in North Carolina and Iowa may be of interest to communities and states using incentive packages to recruit companies to their area.
North Carolina
Patents, Graduates Key to Fighting Kentucky's Persistent Poverty?
It’s no secret that research and education are important to a state’s economy, but for many poorer states, they may be even more vital than previously believed. A few recent studies suggest that increasing the number of patents and the education level of residents in a state could be a valuable first step in overcoming persistent poverty.
People
Gary Carter is stepping down as the executive director of the Tax Increment Financing Commission in Kansas City to become a senior vice president of Davenport One, a regional economic development agency in Davenport, Iowa.