Excelsior Program to Replace NY Empire Zone Program
A job creation program to replace New York's Empire Zone Program, often criticized by Gov. David Paterson for its lack of results and soaring cost, was approved this week by lawmakers. The Excelsior Program carries a much smaller price tag than its predecessor and limits the focus to seven industry sectors seen as having high job growth potential. Funding for the program is capped at $50 million per year for a total $250 million when fully implemented. Annual Empire Zone expenditures exceeded $550 million, according to the governor's office.
Incubator RoundUp
Specialized and high-tech incubators provide crucial services and resources to promote and enhance Commercialization & Entrepreneurship, one of the six thematic tracks of this year's annual conference. Three sessions tied to this theme will be explored during SSTI's annual conference, focusing on direct lessons from successful and proven TBED programs, regional innovation clustering, and more. They include:
State University of New York system attempts to become "the Engine of New York's Economic Revitalization"
Nancy L. Zimpher, the Chancellor of the State University of New York (SUNY), believes that SUNY campuses statewide can become "the engine of New York's economic revitalization."Chancellor Zimpher's vision of economic development fueled by higher education is supported by a recent report from the Rockefeller institute of Government. The report describes a new paradigm of economic development in which university-driven economic development will replace the traditional mix of business attraction and retention incentives.
Job Corner
The Kentucky Cabinet for Economic Development is looking for an executive director who is an ambitious, successful professional that will provide leadership in Kentucky's efforts to develop a knowledge-based economy. The executive director will work in partnership with all levels of government, academia, and the private sector to help create a supportive high-technology environment.
NGA Launches Pilot Program in Six States to Prepare Teens, Millennials for Middle-Skill, STEM Careers
The National Governors Association’s (NGA) Center for Best Practices launched the 2016 Policy Academy on Scaling Work-Based Learning – a pilot program in six states that blends work experience and applied learning to develop youth and young adults’ foundational and technical skills to expand their education, career and employment opportunities. The goal of the program is to connect 16- to 29-year-olds with middle-skills career opportunities in STEM-intensive industries such as advanced manufacturing, health care, information technology and energy.
Over $2B in Investments Announced at NY’s Regional Economic Development Awards
New York Gov. Andrew Cuomo announced $2.25 billion in economic and community development awards as part of the fifth installment of the state’s Regional Economic Development Council (REDC) Initiative. Of this total, $1.5 billion over the next five years will go to the three regions (Central New York, Finger Lakes, and the Southern Tier) that were selected as the winners of the Upstate Revitalization Initiative.
SUNY Research Foundation Seeks Information on University-Focused Venture Investment
The Research Foundation for State University of New York (SUNY) is seeking feedback regarding the translation of SUNY research and innovation into meaningful startup company formation, acceleration and growth through targeted venture investing. In particular, the foundation seeks ideas on how SUNY could connect research experts to entrepreneurial leaders, advisors, or mentors in order to build upon emerging industry sector strengths.
NY Gov Cuomo Announces Next Phase of $1.5B Nano Utica Initiative
New York Gov. Andrew Cuomo announced the next steps of his administration’s Nano Utica initiative, an effort to revitalize the Mohawk Valley regional economy through nanotechnology innovation.
Lilly Endowment, State Fund Indiana’s Regional Economic Development Efforts
The Indianapolis-based Lilly Endowment announced three grants totaling $42 million to boost regional development efforts in 11 counties located in Southwest-Central Indiana with a focus on research and development, workforce and education, and efforts to enhance quality of life.
NY Gov Proposes Continued Support for Upstate Economies; ID, IA Govs Pitch Workforce Efforts
With the start of the new year, many governors around the country have begun laying 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 Idaho, Iowa and New York.
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.
NYC investing $1B in life sciences
New York City Mayor Bill de Blasio has announced that the city is planning to double its $500 million investment in the LifeSci NYC commitment, to reach a total of $1 billion invested in life sciences over the next 10 years.
Tech Talkin’ Govs 2022: Innovation agendas from the governors’ State of the State addresses
The last of the governors have delivered their State of the State addresses. With 36 gubernatorial elections this fall, many governors appeared to be more conservative in their addresses this year, speaking more about past accomplishments rather than rolling out new programs. This week features comments from California, Louisiana, Nevada and Ohio’s governors as their addresses related to the innovation economy.
Industry 4.0 adoption doubles among Indiana manufacturers in a year
More than 40 percent of Indiana’s manufacturing companies successfully implemented Industry 4.0 technologies in 2021, more than doubling the number that had reported that a year earlier, according to a recent Conexus Indiana report. The advanced manufacturing and logistics (AML) industries are considered the backbone of Indiana’s economy. Indiana manufacturers account for more than $100 billion of the state’s economy and employ 17 percent of the state’s workforce.
NY Approves $950M for Next Round of Regional Awards; SD, WY Approve TBED Spending
Many states across the country already have, or will soon have, signed budgets ready for the 2017 fiscal year. Over the past few months, SSTI has examined gubernatorial addresses and proposed budgets for a preview of technology-based economic development spending in the coming year. This week, we take a look at what initiatives and spending levels survived spending negotiations in New York, South Dakota, Wyoming.
IN, MS Announce Workforce Initiatives to Support State Competitiveness, Job Creation
To drive state competitiveness and job creation, Indiana and Mississippi announced new efforts to engage regional institutions of higher education and other organizations to provide workers with the skills that match the needs of existing industry as well as attract new business and industry to their state. Through the Indiana Department of Workforce Development (DWD), the state will commit $22 million to fund industry-led regional partnerships aimed at aligning education and workforce needs. Mississippi Gov.
Burgeoning Indiana Biosciences Research Institute Receives $100M in Grants
The Indiana Biosciences Research Institute (IBRI), first unveiled in May 2013, is a statewide public-private partnership advanced by BioCrossroads that considers itself the first industry-led collaborative life sciences research institute in the country.
State economic development efforts shifting
Traditional economic development efforts at the state level are undergoing increasing scrutiny as budgets are being constrained. Two new studies show a shift in focus away from traditional approaches of tax incentives and reliance on major employers, to broader strategies relying more on the private sector and human capital. A report released by the Delaware Economic Development Working Group recommends shifting many of the core responsibilities of the Delaware Economic Development Office (DEDO) to a new nonprofit. And a report focused on Indiana details the decline in footloose jobs in the state despite local government investments in business attraction, indicating a reevaluation of public policy is needed, the authors contend.
NY launches tuition-free college education for New Yorkers
On April 8, New York Gov. Andrew Cuomo announced that the Excelsior Scholarship program will be included in the state’s FY 2018 budget, after having been approved by the legislature. In its first year, the state will commit $163 million to provide tuition-free options for New Yorkers from ‘middle-class’ families at the state’s public institutions of higher education. Under the Excelsior Scholarship program, students can attend any of the colleges or universities that comprise the State University of New York and the City University of New York systems. After completing their degree, the scholarship requires that recipients must work or live in the state after graduation for the same number of years that they receive support. Cuomo contends that over 75 percent of the state’s 940,000 families with college-aged children would qualify for the program.
Life sciences industry growing in Midwest, Philadelphia
The Midwest and the Greater Philadelphia region have found pathways to build strong life sciences industries and create environments that provide the necessary risk capital for healthcare startups. These life sciences clusters are driven by leading healthcare companies, high quality health systems, and top notch research institutions as well as strong entrepreneurial support ecosystems.
IN, MD continue funding innovation
As the state budgeting process comes to a close, SSTI will report over the coming weeks on actions taken by state legislatures to invest in economic growth through science, technology, innovation and entrepreneurship. This week, we look at the budgets passed and signed by governors in Indiana, which includes new funding for an institute focused on health and life-sciences research and commercialization, and Maryland, which includes funding for the Maryland Technology Development Corporation.
IA, ND, NY state budgets hit and miss on innovation funding
SSTI continues its reporting on actions taken by state legislatures to invest in economic growth through science, technology, innovation and entrepreneurship. This week, we look at the budgets passed and signed by governors in Iowa, New York and North Dakota, finding mostly level and some increased funding for innovation programs in Iowa and New York – including free tuition at in-state colleges for qualifying residents – while North Dakota is looking at decreased funding for programs.
Tech Talkin' Govs, Part I
TBED People and Organizations
Gov. Jim Douglas plans to merge the Vermont Departments of Economic Development and Housing and Community Affairs.