NY, IN Pursue Regional Strategies to Fuel High-Tech Economy
New York Gov. Andrew Cuomo recently announced the fourth round of regional economic development grants to support tailored approaches to job creation in different areas of the state. The $709.2 million in awards are part of the state’s ongoing Regional Economic Development Council (REDC) initiative begun in 2011. Regional strategies have long been a key component of state development policy, enabling policymakers to encourage institutional partnerships with a focus on the specific needs of local economies.
Intrastate Crowdfunding Moves Forward in Five States
Even after equity crowdfunding reached a milestone earlier this month with new Securities Exchange Commission proposed rule changes, state legislatures across the country continue to pass intrastate crowdfunding bills.
State Budget Roundup: IN Legislators Approve Funding for Regional Cities Initiative
Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review actions in Alaska, Colorado and Indiana.
NC Commits $250M for Second North Carolina Innovation Fund
State Treasurer Janet Cowell announced a second North Carolina Innovation Fund (NCIF), a $250 million commitment to North Carolina-centered companies. Approximately $165 million will be designated to make co-investments in growth stage companies with the potential for a risk-adjusted, high return on investment (ROI) – 20 percent ROI. The second NCIF will make targeted investments into a diverse set of industries that include key sector identified by the state as growth sectors.
TBED People and Organizations
J. Mike Books is leaving his post with the Indiana Health Industry Forum to become the first economic development director for the city of Columbia, Missouri. He also will serve as president of the Regional Economic Development Inc. Brooks will assume his new responsibilities on July 15.
TBED People and Organizations
The Piedmont Triad Research Park laid off Bill Dean, director of the park, and Nancy Johnson, marketing director. Park officials said that the park's project manager and executive assistant also were laid off.
Reduced Funding Scales Back Indiana Life Sciences, Technology Development Initiatives
While maintaining a $1 billion reserve over the next biennium, the 2009-11 budget signed into law by Gov. Mitch Daniels reduces by half funding for the state's 21st Century Research and Technology Fund and appropriates only a fraction of the requested $70 million for the Indiana Innovation Alliance, an initiative to grow the state's life science industries.
Tech Agenda, Billion Dollar Green Bank Top NY Gov's Economic Growth Plan
Innovation was a key term used in Gov. Andrew Cuomo's State of the State address and is referenced heavily throughout his economic development agenda for the upcoming year. The governor proposed creating innovation hot spots, an innovation network and innovation venture capital fund. Efforts would be focused on accelerating technology transfer and providing funds to attract startup companies. Cleantech investments and support for competitive university-based projects that emphasize economic impact also are a priority for the governor.
TBED People and Orgs
Tech Talkin' Govs: Part III
Budget RoundUp: States Seek Modest investments for S&T
Governors in several states recently unveiled spending proposals for the upcoming fiscal year or biennium. While fiscal conditions in most states remain fragile, new or continuing investments focused on science, technology and innovation were introduced as pro-growth measures to aid in states' recovery efforts. With the exception of New York Gov. Andrew Cuomo's ambitious economic development plan (see the Jan. 9 issue of the Digest), most of the proposals were on the modest side.
North Carolina Moving to Tie Higher Ed Closer to the Job Market
North Carolina Gov. Pat McCrory is pushing for state funding of higher education to be based on the success that community colleges and universities have at placing their students in the job market. “I don't want to subsidize (a course) if that's not going to get someone a job ... it's the tech jobs we need right now,” stated McCrory on the nationally syndicated “Morning In America” radio broadcast.
EDA Awards $3M to Three Cities for Economic Development Planning
The Department of Commerce announced the winners of the Strong Cities, Strong Communities (SC2) Challenge, the Economic Development Administration-led competition seeking to help cities and regions develop a comprehensive economic development strategy. Greensboro, North Carolina, Hartford, Connecticut, and Las Vegas, Nevada each were awarded $1 million to assist in the refinement and implementation of their respective plans.
Gubernatorial Candidates Make the Case for TBED
On November 6, in addition to the presidential election, eleven state and two territorial gubernatorial contests will be decided. Seven of these races (Delaware, Missouri, North Dakota, Puerto Rico, Utah, Vermont, and West Virginia) include a sitting governor running for re-election, while the remaining six (American Samoa, Indiana, Montana, New Hampshire, North Carolina and Washington) are open races.
TBED People & Orgs
Betsy Biemann, who has served as president of the Maine Technology Institute since 2005 has resigned. Joe Migliaccio, manager of MTI's Business Innovation Program, is serving as interim president.
Indiana Gov. Mitch Daniels has been named the next president of Purdue University. Daniels will become the 12th president in Purdue's 143-year history in January at the end of his second term as governor.
TBED People & Orgs
Caren Franzini, the CEO of the New Jersey Economic Development Authority, stepped down after leading the agency for 21 years. Michele Brown, Gov. Chris Christie's appointments counsel, will take over as CEO.
TBED People
Jill Kline has been named the State director of the Wyoming Small Business Development Center.
Daniel Hasler has been named the Indiana Secretary of Commerce, effective Sept. 16. He will replace Mitch Roob who is leaving the post to accept a position in the private sector.
The National Governors Association named David Moore as the director of its NGA Center for Best Practices.
NC Accelerator to Help Launch Life Science Startups
The North Carolina Innovation Fund has announced plans to support a new accelerator that would promote life science technology transfer from the state's universities. Published reports indicate that the accelerator would launch later this month and focus on companies developing biopharmaceutical therapeutics, diagnostics and medical devices. Participating startups could receive capital investment from the accelerator's associated funds.
Groups Call for Aggressive Bioscience Strategies in IN, NY and PA
Two common themes emerged in a trio of reports aimed at growing the bioscience sectors in Indiana, New York and Pennsylvania: the need for a sustained financial commitment from the states and the importance of a shared vision and better communication between policymakers and industry leaders. In all three reports, the authors say the payoff is big for the states. The bioscience and life science industries support high-wage jobs and attract significant federal funds.
Indiana
Research Park RoundUp
As budgets for economic development tighten across all sectors, measuring and reporting impact becomes even more crucial for sustaining support. The Association of University Research Parks points to three impressive impact reports released this year from Indiana's Purdue Research Park, Nebraska Technology Park and North Dakota State University Research and Technology Park.
TBED People
Carl Bauer is retiring from federal service and leaving the National Energy Technology Laboratory effective Feb. 28, following a four-year tenure as the laboratory’s director.
Joining the Pittsburgh Life Sciences Greenhouse as executives in residence are Maureen Peszko and Michael Lang. Pierre Queiroz de Oliveira will be joining the program as an executive associate.
Indiana University Launches $10 Million Venture Fund
Indiana University is launching a $10 million venture capital fund to invest in technology companies coming out of the university. Half of the fund will be dedicated to seed- and early-stage companies, while the other $5 million will support later-stage firms. Last month the university dedicated a new $10 million Innovation Center, which will work with the fund to support university-affiliated companies. Read more at: http://newsinfo.iu.edu/news/page/normal/12745.html
Indiana University Launches $10 Million Venture Fund
Indiana University is launching a $10 million venture capital fund to invest in technology companies coming out of the university. Half of the fund will be dedicated to seed- and early-stage companies, while the other $5 million will support later-stage firms. Last month the university dedicated a new $10 million Innovation Center, which will work with the fund to support university-affiliated companies. Read more at: http://newsinfo.iu.edu/news/page/normal/12745.html
TBED People
Robert Fritzinger has been named the director of the new SUNY Fredonia Business Technology Incubator.
Ioanna Morfessis, a consultant from Phoenix, was unanimously appointed as the executive director of the Rhode Island Economic Development Corporation by the board of directors. Morfessis is expected to start work in January, and will serve as acting director until the Senate confirms her appointment.
North Carolina Governor Establishes Innovation Council
To foster strategic investments and policies in the knowledge and innovation economy, Gov. Bev Perdue recently signed an executive order establishing the North Carolina Innovation Council. The council is responsible for advising the governor on public and private investments and polices to promote innovation, move innovative ideas from the lab to the marketplace more efficiently, and strengthen collaboration among business, academia, and local government.