Package Isn't All Governor Expected; Veto Possible

In an era of tight public budgets, sources of seed funding for early stage and developmental research projects with potential for commercialization is getting harder to come by. Many state initiatives to support these endeavors are subject to the same budget cuts as other areas, and small firms' interests in the federal Small Business Innovation Research (SBIR) program are increasing pressure for these already competitive grants.

With more than 1,000 links to socio-economic data sources, EconData.Net provides a convenient and valuable starting point for gathering information to understand regional economies. Funded by the Economic Development Administration, EconData.Net is a 100 percent free website offering easy access to state and sub-state socio-economic data for practitioners, researchers, students and data users in general.

A Massachusetts Institute of Technology faculty committee has suggested that the university provide off-campus facilities to help faculty perform classified public service or research involving the nation’s security. In the Public Interest, a report of the Ad Hoc Faculty Committee on Access To and Disclosure of Scientific Information of MIT, presents recommendations for the university in handling classified work in the wake of the September 11 attacks.

Douglas Foy, Secretary for Commonwealth Development for Massachusetts, announced his resignation effective in March.

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.

The Institute for Government Innovation at Harvard University's John F. Kennedy School of Government recently announced open competition for its 2002 annual awards program.

As a means of highlighting the performance and composition of state economies, Harvard's Institute for Strategy and Competitiveness, led by Dr. Michael Porter, has published profiles on all 50 states and the District of Columbia.

Massachusetts Governor Mitt Romney recently announced a plan to spur job growth in the state by tapping the expertise of area business, community and education leaders through Regional Competitiveness Councils. Six such councils will represent the Berkshires, Cape and Islands, Central, Northeast, Pioneer Valley and the Southeast regions of the state.

Governor Tom Vilsack has announced a plan to invest $50 million into the creation of a life sciences initiative to help establish Iowa as a leader in the life sciences. Developed with the Regents Universities, Iowa Business Council and leaders in Iowa's biotechnology industry, the biotech plan's success hinges on a three-part strategy:

Many states and communities are focusing their limited technology-based economic development funds toward cluster development, concentrating on those sectors in which some assemblage already exists within the jurisdiction. Proponents of the approach suggest the public sector is able to maximize its investments in those areas already showing some strength.

Massachusetts' high tech economy was hammered by the economic equivalent of a nor’easter throughout much of 2002, according to a report released by the Massachusetts Technology Collaborative (MTC). The Index of the Massachusetts Innovation Economy tracks nine industry clusters and 30 economic indicators and documents the declines experienced in the Massachusetts Innovation Economy, which is responsible for one quarter of all jobs in the state.

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.

Harvard University President Lawrence Summers announced his resignation this afternoon. Former Harvard president Derek Bok is to serve as interim president for the university.

The Massachusetts Technology Council named Carol Meier as its new Executive Director, succeeding Katherine Raphaelson who is relocating to Washington D.C.

Columbus Tech Councils Merge

Louis Soares, project manager for workforce development at the Rhode Island Technology Council (RITEC), is leaving to accept a fellowship at the JFK School of Government at Harvard University.

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.

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.

The Institute for Government Innovations has announced it is accepting applications for the 17th Annual Innovations in American Government Awards, ultimately to identify outstanding examples of creative problem solving in the public sector.

Most practitioners who have been in the tech-based economic development field long enough know the presence of a strong research university can make the job much easier. New innovations and technologies to commercialize through licensing and spinoff companies, research facilities and experts to partner with local companies, and a constant supply of fresh graduates for the workforce are just a few of the benefits a research institution can offer the local and regional economy.

Albany, New York
Health Reseach Inc., a branch of the New York State Department of Health, is looking to move its Pharmacogenomics Institute to a vacant laboratory in Rensselaer Technology Park, according to a recent article published in the Times Union. The 25,000-square-foot building that housed the Virogenics Corp., a vaccine-research company that left in 2000, has not been officially purchased. The state expects to lease the site when the Rensselaer County Industrial Development Agency closes on the purchase.

University of Buffalo Entrepreneurial Awards 

An in-depth look at the one-year success of a student company to win last year's first Panasci Entrepreneurial Awards at the University of Buffalo recently was highlighted in the Buffalo News. 

"If technology is at the core of the Innovation Economy, then investment in research and development is one of the principal drivers in the creation of that technology."

The Iowa Entrepreneurs Coalition has been formed to help advance an innovation- and entrepreneur-friendly agenda in the Iowa legislature.