Rhode Island Explores Tax Changes for High Tech
Eliminating all state taxes on long-term capital gains and providing incentives to encourage biotech start-ups and investment are among the recommendations advanced in The Competitive Edge: Rethinking Rhode Island Tax Policy for Success in the New Economy, the first report from the Tax Competitiveness Committee of the Rhode Island Economic Policy Council (RIEPC).
Iowa Governor Proposes Several S&T Initiatives
Governor Tom Vilsack has unveiled a plan to enhance Iowa’s science and technology base. In his 2001 budget proposal, the governor has proposed $10 million in state funds to create Centers of Excellence in the life sciences, information solutions, and advanced manufacturing areas.
Lawmakers Support Energy, STEM Initiatives in Upcoming Fiscal Year
Legislators in Alaska, Iowa and Oklahoma recently approved funding for several TBED-related initiatives within state operating and capital budgets for the upcoming fiscal year.
Recent Research: Measuring the Effectiveness of State R&D Tax Credits
Two weeks ago, Idaho Gov. C.L. “Butch” Otter vetoed legislation to repeal state R&D income tax credits for Idaho companies. Among his reasons for the veto, Gov. Otter claimed removing the credits would put Idaho at a competitive disadvantage because surrounding states over similar incentives. Was he right?
Tech Talkin’ Govs 2018, part 3: DE, NM, RI, VA, WV governors focus on education, jobs for innovation initiatives
SSTI’s Tech Talkin’ Govs feature continues as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this third installment, we present excerpts from governors in Delaware, New Mexico, Rhode Island, Virginia and West Virginia.
SSTI’s Tech Talkin’ Govs feature continues as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this third installment, we present excerpts from governors in Delaware, New Mexico, Rhode Island, Virginia and West Virginia.
Many of the governors across the country are delivering the final addresses and taking the time to look back over their term on accomplishments while others are looking forward to new initiatives. The Delaware governor’s comments in the innovation space centered on jobs and strengthening training opportunities while in New Mexico the governor is term limited and she took the opportunity to focus on jobs and manufacturing partnership with Mexico. The Rhode Island governor, who has indicated she will run for reelection this year, focused on education, job training and small business. Growth in the state’s clean energy industry was an accomplishment touted by the outgoing governor in Virginia. And in West Virginia, the governor is interested in free technical and community colleges.
States of Innovation 2017: Free tuition moving into more state toolboxes
This week we continue our series on state legislation pertaining to the innovation economy that has been enacted this year around the country. This second installment of the States of Innovation 2017 series deals with free tuition.
This week we continue our series on state legislation pertaining to the innovation economy that has been enacted this year around the country. This second installment of the States of Innovation 2017 series deals with free tuition.
A number of states took action to increase the education and skills of their workforce by implementing free or greatly reduced tuition programs at either community colleges or state colleges. The move to increase access to higher education while not new, took up increased urgency this year. With Arkansas, Florida, Kentucky, New York, North Carolina, Rhode Island and Tennessee all taking action this past year, Maine and North Carolina were among others considering other options but as of today’s publication not moving the proposals forward.
Tech Talkin’ Govs 2018: AZ, FL, IA, ID, MS, NY, VT present state of the state addresses
SSTI’s Tech Talkin’ Govs feature returns as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this first installment, we present excerpts from governors in Arizona, Florida, Indiana, Iowa, Mississippi, New York and Vermont.
SSTI’s Tech Talkin’ Govs feature returns as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this first installment, we present excerpts from governors in Arizona, Florida, Indiana, Iowa, Mississippi, New York and Vermont.
With the seat up for election in 36 states this fall, many governors are delivering what may be their last state of the state address (see last week’s story on the definite turnover in 17 states and another 19 eligible for reelection). Some governors are more specific in their addresses regarding the innovation economy, such as Idaho where its governor is seeking additional money for college and career advising, an additional $5 million for the Opportunity Scholarship program, and a new position to coordinate the work of all its higher education institutions. Iowa’s governor is calling on the legislature to pass the Future Ready Iowa Act and proposes a new scholarship for Iowans who decide to pursue up to a two-year degree in a high-demand field as well as more money for apprenticeships. Taxes are taking a large part of the discussion for many governors. For instance, the Florida governor is hoping for a constitutional amendment to make it more difficult for future legislators to raise taxes, while in New York, the governor says the state will challenge the federal tax code.
Tech Talkin’ Govs, part 3: Economic development, broadband, education and climate change driving governors’ innovation agendas
This week, we see broadband investment in Indiana; education initiatives that begin with pre-K and extend beyond high school in a number of states; lifelong learning approaches; apprenticeships; climate change and green energy initiatives in Nevada and Washington; and more on governors’ agendas. As governors across the country continue to deliver their state of the state addresses to their legislatures and constituents, SSTI monitors the speeches for news of innovation related initiatives.
Rhode Island announces $12 million for Innovation Campus projects
Rhode Island Gov. Gina Raimondo has announced the first three projects for the state’s Innovation Campus Program, an effort to support the commercialization of academic research in key industries such as cybersecurity, data analytics and agricultural technology. The centers, in partnership with the University of Rhode Island and located in Kingston and Providence, will receive a combined $12 million from the state. The funding stems from a $20 million innovation bond approved by the state’s voters in 2016.
Kansas and Rhode Island emerge from contentious budget process
After arduous processes in both Kansas and Rhode Island, the states have newly-enacted budgets in place that have retained some funding for TBED initiatives. Kansas was able to fund programs that will focus on a skilled workforce and research and development, while Rhode Island will see the creation of a pilot program for free tuition at community colleges through a scaled-back version of the governor’s proposed RI Promise.
Kansas
Key ballot initiatives to impact state futures
SSTI has reviewed the ballot initiatives across the country that affect innovation. Several states have energy initiatives on their ballots, while higher education funding is at play in Maine, Montana, New Jersey and Rhode Island. Utah could become only the second state to fund its schools through gas taxes, if a measure there is passed. At the same time, four states have ballot issues addressing redistricting commissions which could have a significant impact on state legislative makeup when lines are redrawn after the 2020 census.
Arizona
SSTI has reviewed the ballot initiatives across the country that affect innovation. Several states have energy initiatives on their ballots, while higher education funding is at play in Maine, Montana, New Jersey and Rhode Island. Utah could become only the second state to fund its schools through gas taxes, if a measure there is passed. At the same time, four states have ballot issues addressing redistricting commissions which could have a significant impact on state legislative makeup when lines are redrawn after the 2020 census.
States’ fiscal picture improves with growing economy
The ability of states to deliver the services promised to its residents relies on their fiscal soundness. With most states beginning their fiscal year in July, SSTI has reviewed the current fiscal standing for each state and here presents a snapshot of our findings.
The ability of states to deliver the services promised to its residents relies on their fiscal soundness. With most states beginning their fiscal year in July, SSTI has reviewed the current fiscal standing for each state and here presents a snapshot of our findings.
Most states ended their fiscal year with a surplus and continue to recover from the Great Recession, with a growing economy and job gains. However, they face continuing demands on their budgets, with expanded Medicaid payments and the growing opioid crisis confronting nearly every state. Such decisions affect the state’s ability to fund innovation efforts, from the amount of support available for higher education and STEM programs, to funding for entrepreneurship, and forging public private partnerships to strengthen innovation programming that the private sector cannot fully support.
Our analysis found that some states that rely on the energy sector to fund their spending priorities continue to struggle, while others are already factoring in anticipated revenues as a result of new Supreme Court rulings involving gaming and online sales tax collections.
Gov. Gina Raimondo to welcome SSTI Annual Conference attendees
SSTI and conference host Rhode Island Commerce Corporation are pleased to announce Gov. Gina Raimondo is scheduled to deliver welcoming remarks during the opening plenary session and officially kick off SSTI’s Annual Conference in Providence on September 10!
SSTI and conference host Rhode Island Commerce Corporation are pleased to announce Gov. Gina Raimondo is scheduled to deliver welcoming remarks during the opening plenary session and officially kick off SSTI’s Annual Conference in Providence on September 10!
Gov. Raimondo became the state’s first female governor when she was first elected in 2014 and won re-election in 2018 for a second term. Prior to becoming governor, she worked as the General Treasurer of Rhode Island, spearheading landmark pension reform that would help reorder and ensure the state’s fiscal stability.
During her tenure, the governor has made advancements in education, innovation, and economic development a centerpiece of her economic growth plans. She is also working to make the state a national leader on college affordability and installed Rhode Island’s Promise, allowing two years of free college community college to every in-state student. She has worked to kick-start the state’s economy, and her economic development programs have helped lead the largest drop in the unemployment rate in the country. Her programs aim to increase collaboration, better attract entrepreneurs, create jobs, encourage existing businesses to grow, and foster innovation throughout state government.
SSTI Annual Conference highlights innovation happening across the country
SSTI’s Annual Conference in Providence, Rhode Island, held September 9-11, showcased successful programs, addressed challenges and examined trends and new developments across the innovation economy. We always like to welcome back old friends and are encouraged to see new faces. Said one long-time attendee, “I used to say this is the place to network with the most experienced and sophisticated practitioners.
States dealt blow with pandemic
In general, the effect of the pandemic on states’ budgets due to the wave of business, retail, and commerce shutdowns, as well as other reduced economic activity across the nation, is not entirely known, or too early to forecast; however, a number of states are beginning to experience the initial impacts of a substantial downturn. With several states having already enacted their 2020-21 budgets, special sessions are expected later this year to deal with declining revenues. Others ended sessions early without a new fiscal year spending plan in place.
States launching innovation initiatives across the country
Proving that innovation is appealing to states regardless of their size or political leanings, new initiatives in both Democratic and Republican states, as well as large states like California and small states like Vermont, are driving innovation agendas into action in areas ranging from clean energy and aid for students and colleges, to new venture capital investments and bond financing to support business collaborations with higher education to help translate cutting-edge research into products and companies.
States with new university-industry partnerships & research capacity activities work to strengthen economies and talent pipelines
Research universities and their partnerships with industry, including an institution’s research capacity, are important elements to building a state’s economy as well as the national economy and talent pipeline and workforce.
State actions in 2019: Opportunity Zones
In 2019, the administrations and legislatures in many states grappled with if and how to adjust state economic development initiatives to leverage the federal Opportunity Zone (OZ) program. The actions of 12 states that implemented new activities are described below.
Workforce development key to state economic development initiatives
A report on employment trends from hiring firm Robert Half found that 2020 presents greater challenges for employers looking to expand their workforce as the country’s labor market is near full employment and job openings remain at high levels.
Industry Leaders to Steer New Iowa Innovation Council
Gov. Chet Culver last week signed legislation creating the Iowa Innovation Council to advise the state's Department of Economic Development on policies that enhance innovation and entrepreneurship in high-growth industries such as advanced manufacturing, bioscience, and information technology. The council will be led by a group of volunteer private business leaders with expertise in the targeted industry sectors and charged with creating a strategic plan for implementing specific policies and coordinating state government applications for federal funds related to R&D.
Legislative Wrap Up: Idaho, Iowa, South Dakota Pass Budgets
Lawmakers in Idaho, Iowa and South Dakota recently passed budgets for the upcoming fiscal year providing funds to help stabilize higher education funding, support research projects related to renewable energy R&D, and provide temporary operational support for an underground deep science laboratory.
Idaho
People & TBED Organizations
Publisher's Note: SSTI notes with much sadness the March 5 passing of Indiana State Sen. David Ford, following a battle with pancreatic cancer. David was a good friend not only of SSTI's, but also of the tech-based economic development community across the nation. In addition to being a tireless and cheerful advocate for investing in science and technology, he was also a gentleman in the true sense of the word, and we miss him greatly.
Atkinson to Leave R.I.; Position Available
Rob Atkinson, the executive director of the Rhode Island Economic Policy Council, has announced his resignation. He has accepted a position with the Progressive Policy Institute, leading a new initiative on science and technology. As a result of his departure, the Council is seeking an executive director.
People
Marty Grueber has left the Rhode Island Economic Policy Council (RIEPC) to join Battelle Memorial Institute and the Environmental Technology Commercialization Center. Beth Ashman Collins has been named director of research at RIEPC.
Tech Talkin’ Govs 2020: FL, GA, IN, IA, KS, KY, MO, RI, WA present diverse efforts to grow economies
Governors’ focus on initiatives particular to their state in this latest round of state of the state addresses. As SSTI continues to review the speeches for new innovation proposals, we found states continuing to focus on education with more attention on teacher salaries and efforts extending all the way down to pre-K with a recognition that the future workforce is influenced by many factors.