After discovering that only 10 percent of the venture capital raised in New Jersey is invested in New Jersey companies, a new venture fund has been established combining private, state, and federal resources. The seed investment fund will be used to assist New Jersey start-up technology businesses get off the ground.

The long-time executive director of the New Jersey Commission on Science and Technology, Jay Brandinger, recently announced his decision to resign as Executive Director of the New Jersey Commission on Science and Technology. Consequently, the Commission is seeking an Executive Director.

Earlier this month Governor Jeanne Shaheen released New Hampshire in the New Economy: A Vision for Expanded Prosperity, the first-ever comprehensive economic development plan for the State of New Hampshire. The plan calls for New Hampshire state government to focus its activities toward encouraging innovation, strengthening education and workforce development, retaining and protecting the quality of life, and extending economic opportunity to every citizen in every part of the state.

Governor Christie Whitman has announced New Jersey Jobs for a New Economy, a multi-million dollar package of technology-related initiatives to make New Jersey more competitive in the creation of high technology jobs. 

Among the plan's proposals are the following technology-related investments: 

With the sustained depth of the recession, the IT crash, the rapid growth in unemployment and the speculative office construction craze of the late 1990s, one would expect office vacancies to climb and property lease rates to edge down in many cities. Following this thought further might suggest, with cheaper office space available, the need for publicly supported low-rent technology incubator space would decrease.

The Fourth of July might just be a paid holiday for New Jersey's tech-based economic development agency after all. Since Governor James McGreevey released his FY 2004 budget request six months ago, the New Jersey Commission on Science and Technology has been living under a June 30 death sentence. Facing a deficit forecast in excess of $4 billion, the governor had called for the elimination of the $15 million program.

The New Hampshire High Technology Council has announced Paul Houle is the new president and chief executive officer and Mary Collins will serve as executive vice president and chief operating officer.

George Bald is returning to serve as Commissioner of the New Hampshire Department of Resources and Economic Development. Bald served in the position from 1998-2004.

NJCST Out, Cancer Research In

Sean O'Kane, commissioner of the New Hampshire Department of Resources and Economic Development, is resigning from the position at the end of his two-year term in March to return to the private sector.

Two separate news stories covering different New Jersey's technology-based economic development initiatives may give one of the first peeks at Governor James McGreevey's plans for science & technology in the Garden State.

Besides supporting life science research in universities, one of the other key areas states and communities are using to encourage the growth of a local biotech industry is by supporting an increase in the availability of wet lab and other biotech facilities. Biotech space, however, is extremely expensive compared to other traditional tech incubator facilities for a variety of reasons (design, HVAC, environmental, security, regulatory, etc.)

Gov. James McGreevey recently appointed Alfred Koeppe as the new Chairman of the Economic Development Authority of New Jersey.

To help make his state a leader in research, development and innovation, New Jersey Governor James McGreevey recently signed an executive order establishing the Commission on Jobs, Growth and Economic Development. Highlighting the state's strengths but calling for it to move forward, even with a $5 billion budget shortfall looming, the governor said the commission is needed to put New Jersey in position to be more competitive.

Democrats took the year’s only two races for governor, electing Jim McGreevey in New Jersey and Mark Warner in Virginia. 

Broadband access is considered by most to be a key ingredient for encouraging innovation and building a local tech-based economy. Access for many rural areas, however, remains geographically or financially out of reach. Earlier this month, the New Hampshire Rural Development Council (NHRDC) unveiled a plan to change that for the businesses, government and individuals in the northern portion of the Granite State.

An initiative aimed at creating 2,500 new jobs throughout New Hampshire will offer low-interest loans to companies who commit to creating new jobs or expanding their current employment base in the state.

State Also Begins Work on $150M Stem Cell Research Center An agreement between Gov. Jon Corzine and state legislative leaders will result in a $450 million bond referendum being put before New Jersey voters this fall. If approved, the money will be used to augment support for the state’s stem cell research initiative over the next 10 years.

Complete descriptions of the position openings described below are available at http://www.ssti.org/posting.htm.

New Hampshire Gov. John Lynch announced he will nominate his deputy chief of staff and policy director, Michael Vlacich, to be the state's next director of economic development.