Entrepreneurial Efforts Underway to Boost Economy
As companies across the nation continue to announce massive layoffs during the economic recession, states, localities and private foundations are encouraging entrepreneurial training and providing support services to help create new jobs and assist struggling businesses.
TBED People and Organizations
Lonnie Emard has been named interim director of the Consortium for Enterprise Systems Management, a recently formed collaboration of business, academic and economic development organizations intended to build information technology (IT) opportunities in South Carolina.
Changes to RIEDC Board, Leadership Signed into Law
Gov. Donald Carcieri signed legislation last week expanding the Rhode Island Economic Development Corporation (EDC) board and allowing the state to offer the incoming EDC director a three-year contract that extends past the governor’s term, which ends next January. The changes are expected to boost the agency’s effectiveness and attract better candidates for the state’s top economic development position.
Illinois Governor's Jobs Plan includes Angel Tax Credits, R&D Matching Funds
Providing access to startup capital, promoting biotechnology, and investing in the green economy to create and grow jobs are among the priorities of Gov. Pat Quinn's Illinois Economic Recovery Plan presented during a speech in December. The governor's plan would establish an Angel Investment Tax Credit program to allow investors making an early-stage investment in a technology startup to receive a capped credit against their Illinois tax bill.
Illinois Stepping up TBED, Broadband Efforts with Flurry of New Legislation
Gov. Pat Quinn recently signed into law a six-year, $31 billion Jobs Now plan and smaller capital bill supporting science and technology research and commercialization and broadband deployment. The Illinois Department of Commerce and Economic Opportunity (DCEO) will administer several of the grants.
Legislative Wrap-up: Massachusetts, New Jersey, Oklahoma, and Rhode Island Pass FY10 Budgets
Over the past few months, several states have enacted spending plans for the upcoming fiscal year and passed legislation to support renewable energy initiatives and tax credits for R&D. While some TBED programs will face dramatic cuts in FY10, others are slated for slight decreases or will receive level funding. The following synopsis provides an overview of the 2009 legislative sessions across the following states:
TBED People and Orgs
Mark Lytle has been named the University System of Georgia's new vice chancellor for economic development.
Frederick Cartwright has been appointed the executive director of the Clemson University International Center for Automotive Research.
TBED People and Orgs
Chris Coburn, the founding executive director of Cleveland Clinic Innovations, is leaving at the end of May to join Boston-based Partners Healthcare, the largest healthcare system in Massachusetts.
Mary Jo White has been confirmed by the Senate as the new head of the Securities and Exchange Commission.
MEP Center Awards Announced for Arizona and Rhode Island
NIST MEP has finalized cooperative agreements to create new MEP Centers in Arizona and Rhode Island. NIST is awarding $1 million to the Arizona Commerce Authority and $750,000 to the University of Rhode Island Research Foundation to serve small- and mid-sized manufacturers in their states. Read the release...
Exciting Opportunities Available on SSTI’s Job Corner
Did your New Year's resolutions involve making a career change? If so and you've yet to fulfill that resolution, visit the SSTI Job Corner at http://www.ssti.org/posting.htm.
In addition to the new opportunities described below, the SSTI Job Corner has openings for these positions:
Illinois Boosts TBED Strategy with New Entrepreneurship Initiatives
With rumors of recession building, several of the nation’s governors are announcing new TBED-focused initiatives in 2008 – many of which will be presented to lawmakers for funding in the coming months. In Illinois, Gov. Rod Blagojevich unveiled two new initiatives encouraging entrepreneurship to grow high-technology businesses throughout the state.
People & TBED Organizations
Lisa Porter was named the first director of the new Intelligence Advanced Research Projects Activity. Porter, NASA's associate administrator of the Aeronautics Research Mission Directorate, said she will leave the agency in February.
SSTI Job Corner
Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.
People & TBED Organizations
Thomas Rainey was named the new president and CEO of the Northern Arizona Center for Emerging Technologies.
Tech Talkin' Govs: More Governors Use Addresses to Promote Higher Ed Investments
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.
CT, IL, NH, TX Budget Proposals Support STEM, Workforce, Research
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.
Race for the Renewable Energy Pay-Off: Recent State Actions
Over the past few months, several states have announced efforts aimed at reducing the nation's dependence on oil. While the importance and urgency of such efforts is perhaps magnified in the wake of one of the worst U.S. environmental disasters, the shift to a renewable energy-focused economy also brings with it the expectation of job creation, new product development, and increased revenue for states struggling in the aftermath of the Great Recession.
Illinois Approves Angel Investment Credit, Extends R&D Credit
Illinois Gov. Pat Quinn recently signed legislation approving a new tax credit to encourage angel investment and extending the state's R&D tax credit one more year. The Innovation Development and Economy Act (SB 2093) allows eligible angel and early-stage institutional investors to take a 25 percent tax credit on investments in small, technology firms. Up to $2 million may be claimed on an individual investment for a $500,000 tax credit. The program is capped at $10 million and will be effective on Jan 1, 2011.
Rhode Island Offering $125 Million Loan-Guarantees to Tech Firms
On June 11, Gov. Donald L. Carcieri signed the Job Creation Guaranty Program. Sponsored by House Finance Chairman Steven M. Costantino and Senate Finance Chairman Daniel Da Ponte, the legislation establishes a $125 million dollar loan-guarantee program for the knowledge and technology-based sectors. Under this program, the state will not directly issue any loans. Instead, it will provide state backing to facilitate private loans. The Rhode Island Economic Development Corporation (RIEDC) will administer the program.
17 Governors Sign Accord to Promote Clean Energy, Economic Prosperity
A bipartisan group of 17 governors signed the Governors’ Accord for a New Energy Future – a joint commitment to support the deployment of renewable, cleaner and more efficient energy technologies and other solutions to make the U.S. economy more productive and resilient as well as spur job creation in member states.
IL, MI, NJ Face Difficult Decisions in Upcoming Budget Negotiations
Governors around the country continue to lay out priorities for the next legislative session. In the coming weeks, SSTI will review gubernatorial addresses and budget proposals related to economic development. This week, we highlight developments in Illinois, Michigan and New Jersey.
MA, RI Govs Announce Strategies for State Innovation Economies
Governors in Massachusetts and Rhode Island have released details about their plans to boost innovative businesses in their respective states. Massachusetts Gov. Charlie Baker offered a strategic plan to guide his administration’s economic development efforts, with an emphasis placed on fostering a culture of innovation and entrepreneurship. Rhode Island Gov. Gina Raimondo announced the launch of three new incentive programs aimed at research-driven companies.
IL, MI Report Significant Uptick in University Economic Impact
Illinois and Michigan are among the few states that support regular comprehensive examinations of the role higher education plays in the overall innovation economy. Organizations in both states recently completed studies on university-generated entrepreneurship, licensing, investment and employment, finding a steady rise in university economic impact over the past five years. In both cases, the increase in university impact was linked to an expanding university role in supporting entrepreneurs and researchers.
IL, NM Invest in Venture Funds to Bolster Capital Access for Startups
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.
IL Unveils New Private, Nonprofit Partnership to Support Economic Competitiveness
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.