Since 2006, Michigan's economic development programs designed to transition its economy from the traditional manufacturing-based economy to an economy driven by clusters of innovative manufacturers and service providershave led to more than 24,407 direct and indirect jobs created or retained, the creation of approximately 1,500 new companies and almost 900 patents.

Neal Wade will resign his position as director of the Alabama Development Office in November and has been named senior vice president of economic development for St. Joe, one of Florida's largest real estate development companies.

An initiative in Iowa to disperse tax credits worth 20 percent of equity investments into pre-qualified businesses or seed capital funds has reached its $10 million cap and will not be continued in the next fiscal year. The Iowa Venture Capital Credit – Qualified Business or Seed Capital Fund was started in 2002 with a cap of $10 million, and as monitored by the Iowa Department of Revenue, all credits have been issued.
 

Gov. Jennifer Granholm today signed legislation creating Centers of Energy Excellence, a program designed to bring companies, academic institutions, and the state together to create jobs in alternative and advanced energy. The initiative, passed with overwhelming bipartisan support, is part of an overall job creation and economic stimulus package proposed by the governor in her State of the State address earlier this year (see the Jan.

Summer camps focusing on science, technology, engineering and mathematics (STEM) fields are typically designed to spark youth interest and introduce students to career options in these critical areas. However, a vital component of these programs is exposure to scientific challenges that many classroom settings cannot provide.

A delegation of Automation Alley representatives recently traveled to the White House to receive the 2008 "E" Award for exporting. The Presidential 'E' Award was created by President John F. Kennedy in 1961 to recognize persons, firms or organizations which contribute significantly to increase U.S. exports.
 

A consortium of Michigan’s 15 public universities recently announced a decade-long initiative to launch 200 new businesses in the state. The Michigan Initiative for Innovation and Entrepreneurship (MIIE) plans to raise and distribute $75 million over the next seven years through grants for commercialization projects, university-industry partnerships and entrepreneurship education.

Last month, Gov. Jennifer Granholm announced legislative approval of two TBED priorities unveiled during her State of the State Address, a program supporting in-state entrepreneurs and continued investment in an initiative to train displaced workers. 

The outcome of Tuesday's election resulted in several wins and some defeats for TBED among the more than 150 ballot measures presented to voters across the nation. Outlined below are the unofficial election results of select ballot measures from each state's respective election office and local media reports as of Wednesday, Nov. 5.

The Obama administration announced winners of the Advanced Manufacturing Jobs and Innovation Accelerator Challenge on Tuesday. The challenge — publicized earlier this year — is one of the key initiatives of the interagency Taskforce for the Advancement of Regional Innovation Clusters and is sponsored by a partnership between the U.S. Department of Commerce, the National Institute of Standards and Technology, the Departments of Energy and Labor, and the Small Business Administration.

While election night's main focus was on the presidential race, the importance of ballot measures for states and metros is growing as public services and budgets are being severely trimmed. A recent article in The New Republic reports on a new trend where states are embracing ballot measures as a potential source of dedicated funds for targeted investments in regional economic growth and development.

Gov. Lincoln Chafee has nominated Deputy Director William Parsons to lead the Rhode Island Economic Development Corporation.

Gov. Rick Perry has appointed J. Bruce Bugg, Jr. as president and chairman of the Texas Economic Development Corp.

Gov.-elect Steve Bullock tapped Meg O'Leary to be the Montana Commerce Department director.

Recent announcements of new and emerging technology incubators range from Google's selection of Cape Town, South Africa to launch a pilot incubator supporting technology entrepreneurs that it hopes to replicate globally to Alabama Gov. Robert Bentley's plan to create a statewide business incubator focusing on workforce training. Select announcements from across the globe are highlighted below.

Recruiting bioscience faculty to universities and investing in R&D infrastructure tops the list of strategies recommended for Iowa to capitalize on a growing bioscience economy. A report commissioned by Innovate Iowa also finds that while significant progress has been made in growing the state's bioscience industry over the last 10 years, declining state funds to build research capacity and provide seed and venture capital remains a challenge for bioscience companies and entrepreneurs to compete regionally and globally.

Tom Thornton, president and CEO of the Kansas Bioscience Authority, submitted his letter of resignation to the board effective immediately. David Vranicar, president of the authority's Heartland BioVentures division, was named interim president and CEO.

Gov. Rick Snyder signed into law a measure expanding the scope of the state's 21st Century Jobs Fund allowing more industries involved in research and advanced technology to compete for funds through the program. Although many tech-focused industries such as life sciences and alternative energy companies can already apply for funding under the program, the new legislation expands eligibility to include an even wider range of companies — information technology and agricultural processing.

The Michigan Economic Development Corporation (MEDC) will be armed with $100 million for efforts to attract new businesses and help existing businesses grow in the coming year — an additional $50 million above Gov. Rick Snyder's request. Another $25 million was approved for a new innovation and entrepreneurship program.

Because universities are increasingly seen as hubs for regional economic development, many institutions are reorganizing their business engagement efforts to eliminate the barriers between universities and the innovation community. Recently, the University of New Hampshire, the University of Michigan Medical School and the University of Texas at Arlington all announced plans to streamline and redesign their innovation services, aiming to increase their contribution to regional job and business creation.