Mid-Session Update on State TBED Proposals
As many states near the mid-point of their 2012 legislative sessions, we thought it would be a good time to take a look at some of the bills advancing in statehouses that could impact states' efforts to improve economic conditions. Several states are seeking to advance access to capital initiatives as they continue to struggle with declining revenue and tight credit restrictions. The following overview provides a sampling of TBED bills supporting access to capital, R&D enhancements and higher education standards.
Providing Access to Capital
States, Universities Seek Support for Research Infrastructure
Whether to attract federal grants, keep up with demand to graduate more highly skilled students, or advance the capabilities for research and exploration, universities are pushing for state funding to invest in science buildings and other infrastructure needed to expand research capacity and improve competitiveness. In New Jersey, a measure to approve $750 million in higher education borrowing to build and renovate campus facilities will go to the voters in November.
TBED and the 2012 Ballots
Voters in 37 states will decide on more than 170 ballot measures this year, many of which are related to tech-based economic development (TBED). Tax measures seem to be dominating ballots this year, with questions relating to both decreases and increases for sales, property and income taxes. Several states are counting on voters to agree to temporary increases to help fill budget deficits and ensure steady funding for education.
Tech Talkin' Govs, Part VI
State grants, partnerships focus on workforce needs in several states
Noting a growing need for additional education to meet workforce needs, several states have announced programs focusing on education and workforce needs, channeling state funding to grants that will focus on aligning learning opportunities with business and industry needs, or creating new initiatives in the private sector. Reaching a higher educational attainment among a greater percentage of the workforce by 2025 is also a goal set by several of the states.
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.
Five Sector-Focused Innovation Labs Aim to Support New Jersey Businesses
A new effort by the New Jersey Institute of Technology (NJIT) seeks to make existing companies more competitive, support the growth of startups and create jobs by leveraging the assets of government, industry and higher education around five sector-focused labs. NJIT will launch a new nonprofit corporation, the New Jersey Innovation Institute, to support the labs – geared toward civil infrastructure, defense and homeland security, healthcare delivery systems, biopharmaceutical production, and financial services.
Governors' Higher Ed Reforms Win Approval in MA, NJ
Two bold proposals seeking to make big changes to community colleges in Massachusetts and New Jersey research universities recently were approved by lawmakers. In Massachusetts, more funding for the state's 15 community colleges is tied to increased oversight, performance measures and integration of workforce development initiatives. Meanwhile, New Jersey lawmakers passed a bill merging a medical and dentistry school with Rutgers University in hopes of strengthening partnerships for research projects and drawing more federal funding.
Free tuition offerings continue to evolve in states across the US
New Mexico Gov. Michelle Lujan Grisham became the latest governor to propose a plan for free tuition, with what has been called the “one of the most ambitious attempts to make higher education more accessible.” If approved, the plan would allow in-state students to attend any of the 29 state public colleges or universities, regardless of income. It is designed as a “last-dollar” program.
States with new university-industry partnerships & research capacity activities work to strengthen economies and talent pipelines
Research universities and their partnerships with industry, including an institution’s research capacity, are important elements to building a state’s economy as well as the national economy and talent pipeline and workforce.
Universities launch incubators, accelerators and funds in 2019
Universities frequently play an integral role in providing activities, research, and products that positively affect or support local, regional, state and national economic development or strategic goals. In higher-education’s efforts to align its participation in innovation and entrepreneurship systems, universities’ incubators, accelerators and fund programs are essential in assisting their faculty, staff, or students in the services and support needed to create startups, bring products to market, or provide critically needed funding.