Minnesota Plan Recommends $750 Million Over 10 Years for S&T Programs
Minnesota needs additional support for science and technology commercialization, manufacturing and entrepreneurship in order to remain competitive, according to a new strategic plan released by the Minnesota Science and Technology Authority. The plan recommends an initial appropriation of $10 million annually, ramping up over ten years, to invest in the state's R&D capacity, talent development and capital and business development.
TBED People and Job Opportunities: People and Organizations
Alabama then-Governor-elect Robert Bentley on January 3 named former House Speaker Seth Hammett as director of the Alabama Development Office, replacing Interim Director Linda Swann. He also appointed the president of the Birmingham-based Economic Development Partnership of Alabama, Bill Taylor, to lead efforts to grow and retain existing Alabama industries, while at the same time recruiting new businesses to the state.
Research Parks RoundUp
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.
MN Legislature Creates S&T Authority, Passes Tech Initiatives
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.
Tech Talkin' Govs, Part IV
The fourth installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Alaska, Connecticut, Maryland, Michigan, Nevada, and Oklahoma. The first three installments are available in the Jan 13, Jan. 20 and Jan. 27 Digests.
Tech Talkin' Govs, Part V
Tech Talkin' Govs, Part V
Minnesota Gov Wants Tax Credits for Angels and Research
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.
WY Lawmakers Approve Funding for Energy Research
Lawmakers approved last week the 2010-11 biennial budget, dedicating more than $76 million for energy research projects funded by the state's share of federal Abandoned Mine Land (AML) funds. The University of Wyoming School of Energy Resources will receive $45 million for development of a subcommerical scale CO2 sequestration research demonstration project, $14 million for clean coal technology research, and $17.4 million for operation of the school. Three bills regulating the wind energy industry also were signed into law by Gov. Dave Freudenthal last week.
Minnesota Legislature Approves Angel Tax Credits
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.
TBED People and Orgs
Pramod Khargonekar has been selected to serve as the National Science Foundation's assistant director for the Directorate of Engineering.
Dan Blake will join the Wisconsin Technology Council as the director of its Wisconsin Angel Network in mid-March. Blake succeeds Zach Brandon, who recently became president of the Greater Madison Chamber of Commerce.
AZ, NJ, WI Increase Capital for Entrepreneurship, MN's Angel Tax Credit Closed for 2013
Over the last week, several states have announced/passed new programs focused on increasing the capital available to spur small business growth and innovation. Officials from New Jersey announced the state's new angel tax credit will take effect July 1. In Arizona and Wisconsin two bills await gubernatorial approval that would rework the Arizona R&D tax credit program and establish a $75 million venture capital fund in Wisconsin. Meanwhile, the Minnesota state legislature did not approve an additional $5 million for its popular Small Business Investment Tax Credit.
MN, ND, NE, RI Sponsor Internship Programs to Build Relationships Between Employers, Students
During this year’s legislative sessions, several states looked toward creating, providing support for or redesigning programs that help incentivize businesses to hire and mentor student interns. In an effort to spur rural internships, Minnesota lawmakers approved a new tax credit program to support internships for students in greater Minnesota. In North Dakota, lawmakers committed $1.5 million to their Operation Intern program, while Nebraska lawmakers updated their Intern Nebraska grant program to provide students with a high-quality internship experience. Rhode Island Gov.
Universities in MN, WA Post Impressive Gains in Spinoffs
A recent report by the Association of University Technology Managers (AUTM) dubbed American universities the “unsung heroes in the economic recovery.” Through licensing and startup activity, universities and other groups earned more than $2.6 billion total income from royalties and other sources in FY12 alone, according to the report highlights.
Voters Reject Tax Increases, Back Bonds for Higher Ed
While election night's main focus was on the presidential race, the importance of ballot measures for states and metros is growing as public services and budgets are being severely trimmed. A recent article in The New Republic reports on a new trend where states are embracing ballot measures as a potential source of dedicated funds for targeted investments in regional economic growth and development.
Looming Revenue Shortfalls Latest Challenge for Many States
Amid the economic uncertainty surrounding fiscal cliff negotiations, and what it means for states, some governors are erring on the side of caution when it comes to funding recommendations for the upcoming year. At the same time, several state budget officers are projecting significant revenue shortfalls in the current fiscal year or biennium as a result of lower than expected tax collections.
Higher Ed a Priority in MD, MN, FL Budgets
Governors in Maryland, Minnesota, and Florida proposed substantial funds to higher education in their budgets this week, with an emphasis on affordable education and expanded research capacity.
FL, WY Govs Make Early Proposals for FY 2017 Spending
A number of governors around the U.S. have already begun rolling out budget proposals for the next legislative session. This week, SSTI examines gubernatorial spending recommendations related to research, commercialization, STEM education and entrepreneurship in Florida and Wyoming.
Florida
Budget Update: Entrepreneurship Programs Survive Contentious Budget Negotiations in MN, MI, KS
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 governors have signed spending bills, the SSTI 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 Kansas, Michigan and Minnesota.
MN Adopts Equity Crowdfunding; MD Organizations Announce Partnership Crowdfunding Portal
Last month, Minnesota Gov. Mark Dayton signed the MNVest bill – an intrastate securities exemption that allows Minnesota-based companies and entrepreneurs to raise money through equity crowdfunding. To qualify for the exemption, businesses must show evidence of several requirements including being organized under state laws and that its principal office is located in Minnesota. Companies can raise capital from both accredited and non-accredited investors from across the state.
New Programs in St. Louis, Twin Cities Connect Startups With Corporations
Recently announced programs in the St. Louis and Minneapolis-St. Paul regions offer startups and major corporations new chances to connect and work together. Pioneered by Illinois’ Corporate Startup Challenge, these types of programs seek to build bridges between important components of the innovation ecosystem: revolutionary new products and services and established market leaders.
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.
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.
Wyoming looks to diversify economy through generational strategy
After nearly 18 months of planning and meetings that gathered input from nearly 140,000 participants, Gov. Matt Mead announced the release of a 20-year strategy for the diversification of the state’s economy.
After nearly 18 months of planning and meetings that gathered input from nearly 140,000 participants, Gov. Matt Mead announced the release of a 20-year strategy for the diversification of the state’s economy. Through the plan, the leaders of Economically Needed Diversity Options for Wyoming (ENDOW) provided more than 50 recommendations for the state government and private industries to help grow and attract businesses to Wyoming as well as keep talented young people in state. The intent of this new blueprint for the state’s economy is to reduce the likelihood of repeating the boom-and-bust cycles that plagued the state in the past.
Carbon tech could spur WY job creation
The carbon tech industry in Wyoming could support an average of 2,600 jobs annually over the next 17 years, according to a new report by the American Jobs Project — a U.C. Berkeley-based nonpartisan think tank. Developed in partnership with the University of Wyoming, American Jobs Project researchers contend that the projected job growth could occur if the state government and private industry invested in growing this industry cluster.
The carbon tech industry in Wyoming could support an average of 2,600 jobs annually over the next 17 years, according to a new report by the American Jobs Project — a U.C. Berkeley-based nonpartisan think tank. Developed in partnership with the University of Wyoming, American Jobs Project researchers contend that the projected job growth could occur if the state government and private industry invested in growing this industry cluster. Carbon tech companies use coal, an abundant resource in Wyoming, to make graphene, carbon fiber and other products. In addition to job creation within the carbon tech industry, the authors cite job growth potential in downstream industries, primarily wind and transmission line developers.