The Wyoming legislature wrapped up its 2001 General Session on March 1. Several laws and supplemental appropriations were made that affect local efforts to grow a stronger tech-based economy. 



Senate Enrolled Act (SEA) 10 permits the Wyoming Business Council to use state funds to provide bridge financing to businesses, not to exceed 35 percent of the total cost of any particular project. 

Dr. Paul S. Huyffer has been named Executive Director of the Vermont Technology Council and Special Assistant to the President of the University of Vermont for Economic Development. The Vermont Technology Council has been in existence since 1992 and has been responsible for the development of a science and technology plan for the state.

Applications and nominations are invited for the position of Executive Director of the Vermont Technology Council. The Council is a voluntary association of community leaders from the public and private sectors who are concerned with the economic vitality of Vermont and believe that the state's prosperity depends on the successful commercialization within the state of scientific and technological advances and innovations.

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.

Wyoming has begun the process of restructuring its economic development programs. Nine state programs and boards will be transferred to the Wyoming Business Council by July 1. The Council, created by the legislature earlier this year, is a 15-member private sector board of directors that will direct economic development activities in Wyoming. Governor Jim Geringer announced the board appointments earlier this month.

Capital for start-up and early-stage business ventures should become more plentiful in Vermont based on legislation, S. 178, passed in late May. A spokesperson for Governor Jim Douglas appraised the act's total impact as representing a $105 million investment into the state's economy.

Package Isn't All Governor Expected; Veto Possible

Molly Lambert, secretary of the Vermont Agency of Commerce and Community Development since 1998, is resigning July 1 to become head of the Vermont Captive Insurance Association. The Agency is comprised of the Departments of Economic Development, Tourism and Marketing, and Housing and Community Affairs.

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.

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:

Kevin Dorn has been named secretary of the Vermont Agency of Commerce and Community Development by Gov.-elect Jim Douglas.

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.

Vermont’s high-tech businesses now can take advantage of new tax credits with Governor Howard Dean, M.D.’s signature on H. 239. The bill creates a set of five incentives for high-tech businesses in industries including computer hardware or software, information and communications, microelectronics, semiconductors, digital communications, medical devices, energy technologies and electric vehicles.

The Joint Minerals, Business and Economic Development Interim Committee of the Wyoming state legislature heard testimony last week encouraging the creation of two new initiatives to expand Wyoming's technology-based economic development efforts: a seed capital program and a technology incubator.

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

The scenario: You are a state legislator and have learned high oil and gas prices will provide the state coffers with at least enough surplus revenue over the next five years to have approximately $1,000 per resident. What do you do with the money?

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.