Reports suggest New Jersey Gov. James McGreevey, resigning his office in mid-November, will be named the first director of the Stem Cell Institute of New Jersey. Securing funding for the center has been a legislative priority for the Governor this year.

Travel and training dollars are limited for most tech-based economic development programs. For many states, these are the first budget items frozen in a cutback. As a result, you need to get the most bang for each dollar spent on professional development for each staff member.

Few of us would consider one piece of a jigsaw puzzle to be sufficient for comprehending the whole picture. Similarly, a state or regional strategy to develop a knowledge-based economy is not complete with just one element of a complete portfolio to nurture science, technology and entrepreneurship.

Florence Mendelson has resigned as president and CEO of Pittsburgh-based Innovation Works. She will remain in her position through the end of the year, helping to identify her successor and implement plans for fiscal year 2005.

One word sums up today's efforts to build tech-based economies: challenging. A restructuring manufacturing base, revolutionary scientific breakthroughs, China and Inda heralding a truly global economy, and tight budgets have left many states and communities simply reacting to change or waiting for better times.

In the coming weeks, many Digest readers will receive the 24-page full color brochure in the mail. If you can't wait until then or want to make sure you get a copy, a PDF version is available for download on our conference website: http://www.ssti.org/conference04.htm [expired]

Slate of 30 breakout sessions SSTI's largest offering yet

The agenda is packed. Packed with great breakout session topics and engaging presenters. With as many as 30 breakout sessions, this year's conference offers something for everyone. The session titles are provided below. Brief descriptions of each topic are presented in the brochure and will be available our conference website:

"We cannot be satisfied with simply passing stem cell research legislation."

Teri Ooms is the first director of the new Joint Urban Studies Center in Wilkes Barre, Penn.

Pennsylvania's Tobacco Settlement Investment Board (TSIB) recently approved a commitment of up to $20 million to Birchmere Ventures III LP to invest in life sciences companies based in Pennsylvania. Birchmere Ventures III, a new fund jointly formed by Pittsburgh-based Birchmere Ventures and San Francisco-based Bay City Capital, will raise up to $150 million.

Several months of debate leading into a special legislative session late last year was not enough to convince lawmakers to approve funding for two of the governor’s major TBED priorities. With the release of the fiscal year 2008-09 budget recommendation, Gov. Ed Rendell is again asserting the importance of the alternative energy legislation and the Jonas Salk Legacy Fund, urging lawmakers to quickly enact the initiatives.

 

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.

Breaking new technologies into traditional markets can be challenging, particularly in the energy field it seems. To help overcome that hurdle, the State of Pennsylvania has undertaken a $5 million initiative to help finance the implementation of clean and renewable energy technologies such as biomass and wind power.

Innovation Philadelphia, a public-private partnership, the Greater Philadelphia Chamber of Commerce, and the city of Philadelphia have developed a road map that identifies the future drivers of the Greater Philadelphia economy and provides a framework for developing these drivers.

NJCST Out, Cancer Research In

Dr. Donald Smith has been named interim chief executive officer of the Pittsburgh Life Sciences Greenhouse.

Dennis Yablonsky, chief executive officer for the Pittsburgh Life Sciences Greenhouse, is Governor Ed Rendell's pick to serve as Secretary of the Department of Community and Economic Development.

Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP), an independent nonprofit economic development organization, has announced the Commonwealth of Pennsylvania's $2 million commitment to establish the Ben Franklin Investment Partners venture guarantee revolving fund. The fund is the first such development financing vehicle of its kind in the U.S.

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.

The Pittsburgh Technology Council recently issued its annual State of the Industry Report, which reveals that in spite of an extended national recession that began in 2000, the region’s technology industries have held their own, at least through the mid-point of the current economic downturn. The report covers the 13-county southwestern Pennsylvania region and presents industry statistics for 2001, the last year for which complete data is available from government and other sources.

Convincing politicians to make a multi-year investment in a state's economic future is challenging, particularly when commitments made in one budget cycle or administration can be forgotten or ignored so easily in the next legislative session. The FY 2003-04 funding struggle for Michigan's $50 million-per-year-for-20-years life science initiative provides ample evidence: $50 million dropped to $45 million and eroded to $32.5 million because of budget problems.

Pennsylvania Governor Edward Rendell recently unveiled an economic stimulus program that will invest nearly $2 billion in bonds and loan guarantees. The stimulus program is intended to leverage at least $5 billion in private investment in economic development projects, creating jobs in Pennsylvania's small and mid-size cities and towns.

Key provisions of Plan for a New Pennsylvania include:

Congratulations to Steve Zylstra, his staff and the 1,500-plus members of the Pittsburgh Technology Council as they celebrate the organization's 20th anniversary.

Kevin Harter is leaving his position as president of the Central Pennsylvania Technology Council to become senior vice president of the new Life Sciences Greenhouse of Central Pennsylvania.