Two new Governors, Bob Wise of West Virginia and Wisconsin's Scott McCallum, have put tech-based economic development in the forefront of their respective economic agendas.



West Virginia

Editor's Note: The fifth installment in our review of the Governors' inaugural addresses, state of the state addresses, and budget messages for 2001. The first four articles in the series were over the past four weeks. Those issues of the SSTI Weekly Digest and all other previous editions are available on our website: http://www.ssti.org/Digest/2001/headlines01.htm

It is widely argued in the tech-based economic development community that New Economy businesses, specifically computers and information technology, account for the tremendous economic growth of the last half of the 1990s. But does the data support this?

Many tech-based economic development programs recognize the importance of having seed and venture capital accessible to their start up tech firms and entrepreneurs. Some practitioners, though, see a challenge in encouraging equity investment in more conservative, risk adverse regions and localities. The dot-com “correction” of last year probably did not help.

What can policymakers and practitioners do if the statistics and other metrics indicate a state, region or locality is not well positioned for the technology-based economy, but the elected leaders and economic development professionals are plodding along with traditional approaches to job creation and development?

Albany, New York
Health Reseach Inc., a branch of the New York State Department of Health, is looking to move its Pharmacogenomics Institute to a vacant laboratory in Rensselaer Technology Park, according to a recent article published in the Times Union. The 25,000-square-foot building that housed the Virogenics Corp., a vaccine-research company that left in 2000, has not been officially purchased. The state expects to lease the site when the Rensselaer County Industrial Development Agency closes on the purchase.

University of Buffalo Entrepreneurial Awards 

An in-depth look at the one-year success of a student company to win last year's first Panasci Entrepreneurial Awards at the University of Buffalo recently was highlighted in the Buffalo News. 

The Wisconsin Legislature presently faces two bills which could greatly boost venture capital funds in the state. 

"If technology is at the core of the Innovation Economy, then investment in research and development is one of the principal drivers in the creation of that technology."

With the emphasis many state and local tech-based economic development organizations have placed on biotechnology over the past 12-18 months, few are far enough along in implementing their strategies to point to more than a handful of successes or new construction projects. The recent explosion in public investment of resources and policies toward developing local biotech capacity is largely based on the promise of anticipated economic gains in the near or not-so-near future. 

Last week, Wisconsin Gov. Jim Doyle announced his administration and the Wisconsin Alumni Research Foundation (WARF) had reached an agreement that would allow companies sponsoring stem cell research in Wisconsin to obtain a free, non-exclusive research license under the stem cell patents held by WARF. WARF, which manages more than 720 pending and 880 issued U.S. patents on University of Wisconsin at Madison technologies, will not charge Wisconsin research centers for licenses on its stem cell patents. The agreement is part of Gov.

Wisconsin manufacturers must adapt to a fast-changing world in order to grow and succeed in the 21st century. That is the thrust of a recent study of the state’s industrial economy recently released by the Wisconsin Manufacturing Extension Partnership (WMEP).

Jeff Brancato has been named Associate Vice President for Economic Development of University of Massachusetts.

Mark Robinson resigned as chief operating officer of the Massachusetts Biotechnology Council to join the American Academy of Arts and Sciences.