People
Maine Governor Angus King appointed Dr. Janet Yancey-Warona to serve as the Director for the new Maine Technology Institute.
Recent State Budget Actions Produce Mixed Results for TBED
A growing number of state governments face revenue uncertainties in the near future. More than half now expect budget deficits and shortfalls in the upcoming fiscal year and beyond. Despite the bleak outlook, however, legislators nationwide are continuing to invest in science and technology with many lawmakers projecting high returns to their state in the coming years. Following are highlights of TBED investments and reductions in recently approved budgets in Kentucky, Maine and Nebraska.
Kentucky
Follow-up Study Evaluates Maine’s Technology Cluster Development
A recent study prepared for the Maine Technology Institute and the Office of Innovation within Maine’s Department of Economic and Community Development examines and ranks 16 identified technology clusters in Maine - defining eight as sustainable clusters, five as potential clusters, and three as emerging clusters. These labels are based upon an extended view of clusters, namely that successful clusters depend on knowledge generation and knowledge spillovers and not just specification within certain industries.
Maine Governor Pocket Vetoes Fund of Funds Legislation
“I recognize the importance of attracting venture capital and new investments to Maine,” Gov. John E. Baldacci said. The governor later added, “However, as it is currently written the bill carries enormous risk. This bill would guarantee a rate of return for venture capital investors while Maine would shoulder all the risk. The potential liability for the State is too great for me to sign this bill.”
Recent Research: Israeli Model Provides Framework for Use of Research and Venture Capital Initiatives
During the 1990s, especially the mid- to late-part of the decade, many countries experienced booms in their high-tech and venture capital industries. Few, however, grew at the same pace as Israel.
Israeli entrepreneurs created eight times as many high-tech companies during the 1990s than in the previous decade and equity investment in Israeli start-ups grew from $50 million to $6.65 billion. The number of venture capital companies in the country jumped from two in 1990 to about 100 in 2000.
Two Reports Highlight Opportunities for State Broadband Policies
Although the U.S. broadband infrastructure has expanded rapidly over the past decade, 45 percent of rural areas still lack access to high-speed Internet services. A recent issue brief from the National Governors Association (NGA) Center for Best Practices provides a number of strategies that have proven effective in expanding broadband access, particularly in underserved rural areas.
Luxembourg Partners with U.S. Firms for $200M Molecular Med Investment
On June 5, 2008, the government of the Grand Duchy of Luxembourg announced plans for a $200 million five-year molecular medicine initiative that draws on a strategic partnership involving three Luxembourg Public Research Centers (CRPs), the University of Luxembourg and three U.S. research institutes prominent in the field.
The U.S. research institutions include:
- Translational Genomics Research Institute (TGen) in Phoenix, led by Dr. Jeffrey Trent;
Alberta and Ontario Launch Tech and Venture Capital Initiatives
Last week, Premier Ed Stelmach of Alberta introduced a $170 million suite of initiatives to support high-tech economic development in the province. The government hopes that by providing support for commercialization from research to market it can attract high-tech entrepreneurs from other areas. Most of the province's investment will support the creation of the $100 million Alberta Enterprise Corporation to encourage venture capital investment.
Tech Talkin’ Govs 2018, part 6: AR, CT, ME, WY look to boost economies
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.
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.
In this latest installment of Tech Talkin’ Govs, Arkansas is celebrating its low unemployment while Maine says it will focus on a commercialization bond and grow the workforce in part through a student debt relief program. Connecticut wants new goals for clean energy and Wyoming’s focus on economic diversification continues with the governor there calling for full funding for the ENDOW initiative.
Tech Talkin’ Govs 2019, part 1: Governors unveil broadband, workforce, and research proposals to build economies
With 36 governors being sworn in following the November elections, 20 of those being new faces and 16 who were re-elected, this year’s inaugural and state of the state addresses promise new ideas along with proposed resolutions to existing challenges. As the governors present their plans to constituents, SSTI revisits our Tech Talkin’ Govs series.
Key ballot initiatives to impact state futures
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
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.
States’ fiscal picture improves with growing economy
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.
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.
Most states ended their fiscal year with a surplus and continue to recover from the Great Recession, with a growing economy and job gains. However, they face continuing demands on their budgets, with expanded Medicaid payments and the growing opioid crisis confronting nearly every state. Such decisions affect the state’s ability to fund innovation efforts, from the amount of support available for higher education and STEM programs, to funding for entrepreneurship, and forging public private partnerships to strengthen innovation programming that the private sector cannot fully support.
Our analysis found that some states that rely on the energy sector to fund their spending priorities continue to struggle, while others are already factoring in anticipated revenues as a result of new Supreme Court rulings involving gaming and online sales tax collections.
State actions in 2019: Opportunity Zones
In 2019, the administrations and legislatures in many states grappled with if and how to adjust state economic development initiatives to leverage the federal Opportunity Zone (OZ) program. The actions of 12 states that implemented new activities are described below.
States take the lead on climate change
When Gov. Janet Mills addressed the United Nations General Assembly on Sept. 23, it was the first time a sitting governor of Maine has been asked to address the body. She had been invited as part of her participation in the UN Climate Action Summit 2019, and has made tackling climate change and embracing renewable energy key priorities of her administration. She is not the only governor stepping into the role where the federal government has backed out.
Maine voters to decide $15M bond issue for broadband funding
Voters in Maine will consider a high-speed internet infrastructure bond issue on the July 14 ballot. The legislatively-referred measure would authorize $15 million in general obligation bonds for the Connect ME Authority to provide funding for high-speed internet infrastructure in unserved and underserved areas. The bond revenue would be used to match an estimated $30 million in federal, private, local and other funds.
Tech Talkin’ Govs, part 6: Education, workforce, climate change top TBED agendas
Educating the next generation of workers, ensuring they will have the skills necessary for the jobs of the future and paying attention to the actions that will affect the climate are all on the agendas of the latest round of governors giving their state of the state and budget addresses. A focus on skills can be seen in addresses from governors in California, Maine, Michigan, Oklahoma and Pennsylvania. States are also continuing with initiatives to forward attention on climate change, as reflected in Maine’s climate agenda and Michigan joining other states in the Climate Alliance.
Startup competitions target the circular economy
The circular economy, a phrase meant to redefine economic growth beyond the current “take-make-waste” extractive industrial model, is gaining attention around the world as a way to produce more positive environmental and social benefits. Over the past few months, three cities have announced efforts to promote circular economy startups.
The circular economy, a phrase meant to redefine economic growth beyond the current “take-make-waste” extractive industrial model, is gaining attention around the world as a way to produce more positive environmental and social benefits. Over the past few months, three cities have announced efforts to promote circular economy startups. In New York City, a contest will offer a $500,000 prize to the best idea and business plan that seeks to repurpose the city’s recyclables and manufacture a product to sell to the local market. The City of Phoenix and Arizona State University announced four companies will participate in an incubator affiliated with the Resource Innovation and Solutions Network (RISN). Last fall, public sector partners and the university-based Austin Technology Incubator (ATI) collaborated to launch a new Circular Economy Incubator in the region.
People
John Wilkinson was promoted to minister of research and innovation in the Ontario cabinet.
Toronto Regional Innovation Gauge Released along with Other Competitiveness Reports
A handful of competitiveness reports have been released in the past two weeks, each comparing various geographic locations and incorporating a range of innovation metrics. Perhaps the publication garnering the most international press has been The Global Competitiveness Report 2007-2008 by the World Economic Forum.
The Clustering of Technology-based Economic Development Organizations
The theory of spatial clustering has been very popular in the TBED field for many years, as researchers attempt to explain the transformation of places like Silicon Valley and the reasons various locales are economically competitive. Practitioners have utilized the theory as a method to describe their own state and regional economies and to support the development of specific industries. As an industry cluster grows, additional benefits of agglomeration are realized.
Singapore Government, Private Industries Investing in Innovation
Three major announcements were made in Singapore last month focusing on R&D of new technologies and educating the workforce to produce specialized graduates in upcoming fields.
People
Catherine Renault is the new director for the Maine Office of Innovation within the state’s Department of Economic and Community Development.
U.S. Slips Two Spots in Global Technology Report
Sweden replaced Denmark as the world's most networked economy and the U.S. fell two spots to fifth place in the Global Information Technology Report 2009-10 rankings. The report, released last week by the World Economic Forum, finds that the U.S. boasts a very conducive information and communication technologies (ICT) environment because of intensive competition, excellent infrastructure and top-notch education. Aspects of the U.S. performance which show margins for improvement include high tax rates, excessive red tape, and a poor general regulatory framework.
VC and Renewable Energy Measures Win Legislative Support in Maine
Maine's 2010 legislative session wrapped up last week, ending on a relatively high note for tech-based economic development (TBED). Actions supporting TBED include a measure signed by Gov. John Baldacci to encourage venture capital investment in innovative companies and the legislature's approval of a bond package that includes $11 million for ocean wind energy demonstration sites through the University of Maine System.
Japan's Plan to Double It's R&D Budget is on Track
Japan is on schedule to double the government's R&D investment by the year 2000, according to a June 13 National Science Foundation Issue Brief.