South Dakota Gov. Mike Rounds selected Richard Benda as the new Secretary for the Department of Tourism and State Development.

The South Dakota Biotech Industry Association, a new resource for biotech companies in the state, has formed.

Lou Tornatzky has announced that he will be stepping down from his position as Director of the Southern Technology Council (STC), a position he has held since 1993. Tornatzky will be relocating with his family to the West Coast, but will continue to serve as an STC Research Fellow.

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.

While many states will lay out strategic plans with quantifiable goals to measure success, South Dakota in 2003 was one of the first SSTI noticed to use a specific target for its gross state product (GSP) as one of the measures. According to the latest annual review, South Dakota officials feel they are making significant strides in its goal of adding $10 billion to its GSP by 2010.

The Rural Policy Research Institute, a consortium of Iowa State University, the University of Missouri, and the University of Nebraska, has published a Directory of State Assisted Venture Capital Programs on-line.

The Kenan Institute for Engineering, Technology & Science is providing the Southern Technology Council (STC) $150,000 in matching funds over three years to help Southern states increase innovation-driven economic development. A major element of the initiative is annual benchmarking of each state's progress in agreed-upon categories, including: industrial composition, entrepreneurial development, globalization, and human resources.

In a bid to make the South a knowledge economy leader, the Southern Growth Policies Board has released Invented Here: Transforming the Southern Economy, a 10-year strategic plan to create an innovation-driven economy in the South. 

Package Isn't All Governor Expected; Veto Possible

A $500,000 state grant approved Thursday by South Dakota Governor Bill Janklow will help create a center in Sioux Falls for fledgling technology businesses.

The Southern Innovation Index, a strategic plan created with the governments of 13 Southern states and Puerto Rico to promote innovation, entrepreneurship and economic growth in the South, has been released by the Southern Growth Policies Board, a bipartisan public policy group based in Research Triangle Park, North Carolina.

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.

An historic, five-year reauthorization bill for the Appalachian Regional Commission (ARC) awaits only the President's signature after being approved Tuesday by Congress.



President Bush is expected to sign the legislation into law, making the reauthorization of ARC the longest in its history and only the second congressional reauthorization of the agency since the Carter Administration.



The reauthorization bill contains several key provisions:

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:

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.

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.

South Dakota Governor Mike Rounds announced Friday that John Calvin has been named Secretary for the Department of Tourism and State Development. The newly formed department combines the Governor’s Office of Economic Development, Department of Tourism, Office of Tribal Relations, Division of Cultural Affairs, and the South Dakota Housing Development Authority.

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

A recent proposal by Senate Republicans in Iowa to eliminate the state income tax for residents under the age of thirty has brought the issue of the out-migration of young, educated adults once again to the forefront.

Just as several states have announced projected budget shortfalls, at least three governors have revealed stable fiscal conditions for the coming year with proposed funding to support new and expanded education and research initiatives.

 

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