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.
Tennessee Unveils New Economy Strategy
Earlier this week, Governor Don Sundquist and the Tennessee Technology Development Corp. (TTDC) released the New Economy Strategy, a broad plan to improve the state's economic viability through science and technology. The strategy encompasses many new initiatives to complement TTDC's existing portfolio of tech-based economic development efforts.
Community College Scholarship Program Aids Tennessee Students
Tennessee's Sullivan County took a big step toward reducing the presence of a brain drain when it approved a scholarship program for its high school graduates.
People
Chris Matthews is the president of the new Chattanooga Technology Council, which held its official kickoff event earlier this month.
TBED Organizations & People Update
The Iowa Entrepreneurs Coalition has been formed to help advance an innovation- and entrepreneur-friendly agenda in the Iowa legislature.
States Finding Innovative Approaches to Stem 'Brain Drain'
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.
People
Mike Koop, deputy commissioner of the Tennessee Department of Community & Economic Development, is resigning effective March 1 to return to the private sector.
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.
People
Randy Weiss will serve as an entrepreneur-in-residence within the University of Iowa Research Foundation.
People & TBED Organizations
Alex Fischer, formerly Oak Ridge National Laboratory's director of technology and economic development, has been tapped as the new vice president for commercialization for Battelle.
Iowa Group Offers Health Care to Self-employed Entrepreneurs
With the rapidly rising cost of health insurance, entrepreneurs frequently find themselves unable to pay their premium in the early stages of business ownership. Often, this means going without health insurance or abandoning plans to launch a new firm. The North Central Iowa Alliance (NCIA) has announced a new initiative to lower this barrier facing new business owners.
Iowa Approves $100M to Fund Renewable Energy Research and Adoption
The 2007 Iowa state legislative session has looked very favorably on TBED. One of the centerpieces of Iowa Gov. Chet Culver’s campaign last year was his pledge to "develop the next-generation energy ecomony in Iowa" through a $100 million state fund (see the Feb. 19, 2007 issue of the SSTI Weekly Digest). The Iowa Power Fund was approved by the state’s General Assembly late last month and closely resembles Gov. Culver’s original plan.
People & TBED Organizations
Eric Cromwell is the new president of Tennessee Technology Development Corp., an organization designed to leverage state, federal and private sector investments in science and technology infrastructure for economic value.
People
The Northeast Iowa Business Accelerator named Brian Dalziel as its first regional director.
Iowa Governor Wants $50M for Advanced Manufacturing
On the heels of the release of two roadmaps calling for increased state support for advanced manufacturing and information technology (IT), Iowa Gov. Tom Vilsack announced plans to spend $50 million "to attract leading scientists to Iowa and spark new research and product development," according to the Des Moines Register.
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.
People & TBED Organizations
A number of regional economic development organizations in Tennessee have formed a partnership called Innovation Valley Inc. Partners in Innovation Valley Inc. include the Blount County Chamber of Commerce, Knoxville Area Chamber Partnership, Loudon County Economic Development Agency, Oak Ridge Economic Partnership, The Roane Alliance and Tellico Reservoir Development Agency.
People
Eric Cromwell announced he is resigning as director of technology development for the State of Tennessee.
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
People
Gov. Chet Culver has appointed Mike Tramontina as director of the Iowa Department of Economic Development.
TBED People
Curtis Brown announced that he will resign as executive director of the Mason City Economic Development Corp., effective July 11, to become the economic development coordinator for the City of Ankeny, Iowa.
TBED People
John Schaerer is the new director of technology development and transfer for Chattanooga's Enterprise Center.
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.
Tennessee Innovation Strategy Targets High-Tech Research Jobs
Gov. Phil Bredesen has released a comprehensive job creation strategy with a particular focus on producing high-quality research jobs by supporting statewide innovation. Announced earlier this month, "Next Steps: Job Creation" is a four-point plan intended to attract and foster new businesses.