This week, leaders in Illinois and New Mexico announced new investments to help seed and early stage technology startups access equity capital. The Illinois Treasurer will launch the Illinois Growth and Innovation Fund, which would invest $220 million over the next three years in 15-20 funds across the state. No more than 15 percent of the money will be placed with any particular fund. The state’s investment will target emerging tech companies, beginning later this quarter.

At his State of the State address last week, Gov. Bruce Rauner announced that Illinois’ principal economic development organization, the Illinois Department of Commerce & Economic Opportunity, as well as some of the state’s business leaders will collaborate to organize a newly formed private, nonprofit organization exclusively focused on increasing Illinois’ competitiveness for job creation and investment.

The Delta Regional Authority  (DRA) released the Regional Development Plan III (RDPIII) – an economic development strategy to help guide DRA’s 252-county region’s economic growth over the next five years. In RDPIII, DRA identifies three goals and related action items to guide its economic development efforts in the Delta region:

As governors around the country begin their newest terms, their proposed budgets are beginning to take shape. Although few governors specifically target technology based economic development, after the first wave of budgets a variety of initiatives related to workforce development and higher education have garnered support.

SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.

This week, governors in Connecticut, Illinois, New Hampshire, and Texas revealed their budget proposals, with commonalities around STEM education, workforce development, and university research initiatives. Governors in two states, New Hampshire and Texas, made growth in the innovation economy a specific priority area of their proposed budgets.

Due to a lack of activity by the state’s three privately-run regional EB-5 centers that serve the state of Maine, the Maine Department of Economic and Community Development (MECD) is considering launching its own EB-5 visa program to attract more direct foreign investment to the state, according to the Bangor Daily News.

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.

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

Investments and policy to support innovation-focused agendas have flourished with the close of the 2014 legislative sessions in several states. Crowdfunding legislation, incentives for attracting talent, higher education affordability, punishing patent trolls, and encouraging greater accountability are some of the areas where lawmakers focused their efforts.

With the latest round of state of the state or budget addresses, the states’ governors focused on their states’ financial situation. Education and economic development were still on the minds of leaders in Maine, Maryland, and Texas. With this fifth installment, less than 10 governors have yet to deliver their addresses in the coming weeks or months.

NC Gov. Pat McCrory conceded the election to Democrat Roy Cooper on Monday after a recount he requested in Durham County was showing no change in the election results.  Acknowledging that it was a divisive election, Gov.-elect Cooper said, “I know still that there is more that unites us than divides us.”  Cooper will face a Republican super majority in both chambers of the state legislature.

The U.S. Department of Commerce’s Economic Development Administration (EDA) announced a number of grants last week to aid regional innovation and entrepreneurship efforts through infrastructure improvements, the creation of new spaces, and business improvements in regions across the country. The grants fund projects in AR, AZ, CA, ME, MI, and OH.

SSTI’s Tech Talkin’ Govs feature continues as governors across the country are wrapping up 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.