The third installment of the Tech Talkin' Govs series includes highlights from state of the state, budget and inaugural addresses from governors in Minnesota, Missouri, Nevada, and New Mexico.

Southern Growth hired Ted Abernathy, Jr., former Executive Vice President & COO of the Research Triangle Regional Partnership, to serve as its Executive Director, filling the vacancy created by Jim Clinton's resignation in September.

Oregon

Funding for the New Jersey Commission on Science and Technology, which administers the state's stem cell research program, would be cut nearly in half under Gov. Jon Corzine's FY10 budget recommendation. The commission is slated to receive $10.4 million, a decrease of $9.9 million from the FY09 adjusted appropriation, to administer grant programs focused on commercializing new technologies, develop early-stage growth companies and business incubators, and enhance New Jersey's stem cell research capability.

Though green jobs have become the focus of many TBED initiatives at the federal, state and local levels, it remains difficult to estimate the size of the green workforce. Green jobs are a relatively new focus for economic development, and there is no standard definition of the green economy and green occupations. Several recent reports have taken on the task of defining green jobs, including the industry sectors that should be folded into that definition.

Tuesday’s Republican victories in the gubernatorial races for New Jersey and Virginia mean a shift in political power for both states. With current fiscal conditions continuing to press state revenues lower and unemployment rolls higher, much of the new governors’ attentions could pass over tech-based economic development policies. Alternately, increased investments in TBED may be exactly what are needed right now to help create high-wage jobs in both states.

“Minnesota faces a crisis of competitiveness.” It didn’t take Minnesota’s leaders long to recognize the state’s precipitous fall in the standings for many major indicators over the past two decades paralleled the state’s prolonged diinvestment from a proactive TBED strategy.

Tech Talkin' Govs, Part V
The fifth installment of SSTI's Tech Talkin' Govs' series includes excerpts from speeches delivered in Minnesota, New Jersey, and Tennessee. The first four installments are available in the Jan. 13, Jan. 20, Jan. 27, and Feb. 10 Digests.

The fifth installment of SSTI's Tech Talkin' Govs' series includes excerpts from speeches delivered in Minnesota, New Jersey, and Tennessee. The first four installments are available in the Jan. 13, Jan. 20, Jan. 27, and Feb. 10 Digests.

Gov. Tim Pawlenty recently unveiled his 2010 supplemental budget recommendations, which includes new tax incentives to boost job creation and spending cuts across state agencies to help eliminate a projected $1.2 billion deficit.

Having the tools and resources to develop innovative concepts and products and move discoveries from the lab to the marketplace is an essential component for building tech-based economies. Research parks, a place where innovative ideas are borne, partnerships between university and industry are created, and companies grow and create new jobs, provide a foundation for the kind of economic growth necessary to compete in a global economy. Over the past few months, development plans and groundbreaking announcements from research parks across the nation have been made.

At the close of the 2010 legislative session in Minnesota this week, several initiatives supporting the state's tech-based economic development agenda were enacted into law. To help make the state more competitive, the Minnesota Science and Technology Authority was established to develop and implement a comprehensive strategy for growing the state's economy through investments in science, technology and innovation.

The $29.3 billion total spending plan for FY11 outlined last week by Gov. Chris Christie eliminates or significantly reduces funding for business incentive programs, including InvestNJ and funding for high-tech business tax credits. In place of the programs, the New Jersey Partnership for Action would be established as a new one-stop-shop to assist businesses in relocation, retention and incentive development.

The Minnesota legislature has passed a 25 percent tax credit for individuals and pooled funds that invest in early-stage high-tech businesses as part of a new jobs bill. Up to $17 million in tax credits will be available in FY11, with $12 million a year available in FY12 and afterward. The credits apply to investments in companies with fewer than 25 employees and less than $2 million in private capital.

Recent court decisions regarding high-speed Internet competition and net neutrality have put U.S. broadband competitiveness on uncertain terrain. Despite two decades of publically supported high-speed data infrastructure efforts, many rural areas still lack access and even densely populated areas remain underserved.  New statewide efforts in Kentucky, Minnesota and Iowa have been announced to improve broadband services and boost economic competitiveness. In addition, Google has announced that it will expand its ultra-fast fiber services to nine more cities across the country.

University-focused initiatives that help bring new technologies and products to market help drive regional economic development and encourage an entrepreneurial culture on campuses. SSTI’s latest Trends in TBED report featured a number of commercialization efforts launched in 2013, including university-based funds to support ideas from faculty, staff and alumni. So far, 2014 also has proven active in this area with the announcement of several new initiatives to support university technology startups.

Angel capital has long played a vital role in state and regional innovation economies, but recent trends in investment capital have pushed angel investment to the fore. As the supply of seed stage venture capital declines in many parts of the country, angels have stepped in to bridge early stage funding gaps for technology startups. Many states have stepped up their efforts to attract and incentivize angel investment. Recent initiatives in Minnesota, Florida, Kentucky and West Virginia seek to book seed and early stage capital by working with angel investors.

The newly-created Clean Energy Leadership Council, convened by the Washington governor's office and a state-wide public-private clean energy alliance, held its first meeting. The council will deliver a clean energy strategy and recommendations by December 1, 2010.

Measuring impact is critical to the success and sustainability of any economic development initiative, and as the national debate over fiscal austerity and taxpayer spending continues, TBED organizations can expect increased scrutiny and accountability for their investments.