Over the past few months, several states have announced efforts aimed at reducing the nation's dependence on oil. While the importance and urgency of such efforts is perhaps magnified in the wake of one of the worst U.S. environmental disasters, the shift to a renewable energy-focused economy also brings with it the expectation of job creation, new product development, and increased revenue for states struggling in the aftermath of the Great Recession.

On June 11, Gov. Donald L. Carcieri signed the Job Creation Guaranty Program. Sponsored by House Finance Chairman Steven M. Costantino and Senate Finance Chairman Daniel Da Ponte, the legislation establishes a $125 million dollar loan-guarantee program for the knowledge and technology-based sectors. Under this program, the state will not directly issue any loans. Instead, it will provide state backing to facilitate private loans. The Rhode Island Economic Development Corporation (RIEDC) will administer the program.

The fourth installment of SSTI's Tech Talkin' Govs' series includes excerpts from speeches delivered in Illinois, New Hampshire, Tennessee, and Rhode Island. The first three installments are available in the Jan. 11, Jan. 18 and Jan. 25 editions of the Digest. Illinois Gov. Pat Quinn, State of the State Address, Feb. 1, 2012 "Today, I'm announcing a $2.3 million dollar investment in '1871,' a new technology center at the Merchandise Mart in Chicago to foster and launch digital start-ups.

In response to an economic development study calling on the state to diversify its operating system, support regionalism and invest in innovation, Nevada's newly established Governor's Office of Economic Development (GOED) released a plan of action to align resources and establish partnerships for meeting those goals over the next three years. The statewide plan builds on legislation passed last session to unify economic development efforts through a regional approach and private sector engagement.

Nevada legislators recently approved $10 million in funding for the state's Knowledge Fund, a technology development and commercialization support program first introduced in 2011.

A three-year effort to implement an SBIR state matching funds program gained enough traction this legislative session to win support from Rhode Island lawmakers. The measure was spearheaded by a group of leaders from 24 life science companies who advocated for a statewide program to encourage small business R&D and commercialization. Lawmakers appropriated $500,000 for the effort in FY14. Adding a workforce development component to the measure, a new bioscience and engineering internship also will be established to enhance the state's talent pipeline.

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.

As many state legislative sessions wind down, a clearer picture of the current direction of state innovation policies is emerging. This week’s SSTI Weekly Digest presents a few of the major trends in technology-based economic development initiatives approved by state legislatures during their most recent sessions. While this review is not meant to be comprehensive, it should illuminate the shifts states are making to refine their investments in the high-tech economy by providing smarter, more targeted support.

The second installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Colorado, Nebraska, Nevada, Rhode Island, South Dakota, Vermont, Washington, and Wisconsin. Our first installment was in the Jan. 9 Digest.

Governors in several states recently unveiled spending proposals for the upcoming fiscal year or biennium. While fiscal conditions in most states remain fragile, new or continuing investments focused on science, technology and innovation were introduced as pro-growth measures to aid in states' recovery efforts. With the exception of New York Gov. Andrew Cuomo's ambitious economic development plan (see the Jan. 9 issue of the Digest), most of the proposals were on the modest side.