The Ninth Annual Great Midwest Venture Capital Conference will be held November 8-9, 1999 in Indianapolis, Indiana. The Indiana Business Modernization & Technology Corp. (BMT) is seeking applications from emerging technology businesses to present their business profiles and capital needs to a variety of potential investors at the event.

In the last days of a special legislative session, the New Mexico Legislature unanimously passed two technology tax credit bills. Entitled the “Technology Jobs Tax Credit Act” and the “Laboratory Partnership with Small Business Tax Credit Act,” these measures are intended to assist New Mexico’s technology-based businesses with the development of increased research investments and laboratory partnerships, especially in rural areas.

As a national security laboratory operated for the U.S. Department of Energy by the Sandia Corporation, a Lockheed Martin company, Sandia’s science and technology competencies are leveraged to support several missions that are synergistic to its primary mission — to ensure the safety, security, and reliability of the nation’s nuclear weapons stockpile in the absence of underground testing, indefinitely.

Durand Smith, the director of the New Mexico Department of Economic Development's Science and Technology Division, has returned to the private sector. Marsha Oldakowski is serving as acting director of the division.

Larry Willard, president of the University of New Mexico Board of Regents, is leaving the position to become chairman of the New Mexico Economic Development Corp.

With a combined annual research budget totaling $4.8 billion, New Mexico's 12 largest research facilities signed a Memorandum of Agreement on May 30 to help turn intellectual property into jobs for New Mexicans. Members of the newly formed New Mexico Technology Research Corridor (TRC) include:

Bill Richardson, Governor-elect of New Mexico, has named Rick Homans as secretary of the state's Economic Development Department.

Mississippi Band of Choctaw Indians (MBCI) Tribal Chief Phillip Martin and Mississippi Technology Alliance President and Chief Executive Officer Angie Dvorak recently announced a partnership to help foster science-based economic development for the state of Mississippi. The alliance's partnership with a tribal government is possibly the first of its kind in the U.S.

Community buy-in to building a technology-based economy is vital for TBED success. Establishing a strong private sector commitment to science and technology can make a significant difference, particularly as elected officials are deciding what to cut or trim from the budget. TBED organizations use different approaches to get the buy-in. In states such as Massachusetts (see story in this Digest), the top-down direction from the Governor could provide the group critical access.

New and re-elected Governors gave inaugural addresses in Alabama, Oklahoma, Pennsylvania, South Dakota, Tennessee and Texas during the past 10 days. Additionally, State of the State addresses were made in Hawaii, Montana, Nevada, New Mexico, Ohio, South Carolina, South Dakota and Utah. Building tech-based economies remains a high priority for many Governors, as evidenced in the following:

Nevada

At the University of New Mexico, Avi Shama has been named Special Advisor to the President on Economic Development. The new position will encourage, coordinate and promote economic development activities of various UNM units.

Angie Dvorak is leaving her position as CEO of the Mississippi Technology Alliance to become vice president of research for the University of Southern Mississippi. The University saw a 25 percent increase in research funds last fiscal year, climbing to a record $62.6 million.

Noreen Scott, former economic development division director for the New Mexico Department of Economic Development, is the executive director for the Rio Rancho Economic Development Corp.

As states and communities consider how to build a tech-based economy, the prospects of centering efforts around hydrogen fuel cell technology has become an increasingly appealing option. Fuel cells may have huge implications for the future, and the technology already is the focus of some states' multi-billion economic development strategies.

Gov. Bill Richardson has appointed his chief of staff, David Harris, to serve as executive director of the New Mexico Finance Authority.

Increased funding for equity investments and a new university-industry R&D partnership program are among the pieces of legislation New Mexico Governor Bill Richardson signed this week, greatly expanding New Mexico's portfolio of programs to grow a tech-based economy. Most of the initiatives were included in the economic development agenda Gov. Richardson outlined during his first State of the State address in January. They are:

The Mississippi Technology Alliance has released a second annual index focusing on the process of innovation, the links between innovation and technology-based economic development, and activities that government, academia and the private sector provide to support innovation and economic development.