The Nevada Office of Economic Development, with guidance and funding from the U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI), has launched the Battle Born Venture Program. “Battle Born” is a state venture capital program that makes equity and equity-like investments in early stage, high-growth Nevada businesses.

This week, the Nevada Governor's Office of Economic Development announced the ten organizations that will serve as local partners in state economic development initiatives. The new Regional Development Authorities (RDA) will lead regional economic development efforts by linking partners in their respective communities. Gov. Brian Sandoval introduced the RDA concept in his State Plan for Excellence in Economic Development earlier this year (see the Feb. 8 issue).

Jeffrey Brancato has recently joined NorTech as vice president. Prior to joining NorTech, Brancato was the associate vice president for Economic Development at the University of Massachusetts.

Randal Charlton has announced his retirement as executive director of TechTown, the Wayne State University research and technology park. Leslie Smith, the general manager of TechTown has been appointed to fill the position beginning Nov. 1.

To leverage the state's opportunities, Nevada needs to upgrade its diffuse economic development system to empower its regions more fully and set a statewide platform for new growth, finds a report commissioned by the state. Building on legislation passed earlier this year to reorganize and elevate the importance of the state's economic development activities, the report calls on the state to unify its operating system for 21st century economic development, support smart sector strategies in the regions, and set a platform for higher-value growth through innovation and global engagement.

Gov. Phil Bredesen’s budget proposal for 2007-2008 includes more than $100 million in new funding for several new education and high-tech development initiatives and a strategy to spur the state’s alternative fuels industry.

 

Citing the goals of expanding its impact and stabilizing funding, the member-based TechAlliance has given up its political independence to become a nonprofit agency under the auspices of the Nevada Commission on Economic Development.

The biopharmaceutical industry is poised to become an important source of economic growth in regions that are successful in nurturing it, according to a recent report from the Milken Institute. With so many states and communities focusing significant financial resources toward developing bio-based economies, the industry analysis is likely to be welcome news.

Michael Terry, president and CEO of EmergeMemphis, has announced he will resign at the end of the year.

Eric Cromwell has been appointed to serve as Director of Technology for the Tennessee Department of Economic & Community Development.

Referring to his fiscal year 2008-09 budget recommendation as “back to basics,” Gov. Phil Bredesen proposed significant investments in research and workforce initiatives while vowing not to tap into reserves or raise taxes.

 

A complete description of this opportunities and others is available at http://www.ssti.org/posting.htm.

Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.

Jeff Wadsworth has been named the next director of the Oak Ridge National Laboratory. Wadsworth was a former deputy director of Lawrence Livermore National Laboratory.

Fred Tompkins, professor and interim dean of the University of Tennessee (UT) College of Engineering, has been named interim executive director of the UT Research Foundation.

Andrew Kim is the new policy director for Tennessee Governor Phil Bredesen.

Bill Madia is leaving his position as director of Oak Ridge National Laboratory to oversee all Department of Energy business for Battelle Memorial Institute.

Chris Matthews is the president of the new Chattanooga Technology Council, which held its official kickoff event earlier this month.

The Senate unanimously confirmed Anne B. Pope of Tennessee as Federal Co-Chairwoman of the Appalachian Regional Commission. Pope currently serves as Commissioner of the Tennessee Department of Commerce and Insurance.

Tim Rubald, interim executive director of the Nevada Commission on Economic Development, was appointed to the position on a permanent basis.

Caroline Young has been named executive director of the Tennessee Biotechnology Association and director of the Tennessee Technology Development Corporation's life science initiative.

Alex Fisher, chief of staff for Tennessee Governor Don Sundquist, is leaving to become the director of technology transfer and economic development at Oak Ridge National Laboratory.

Construction is underway for the Cool Springs Life Sciences Center (CSLSC), a $74 million biomedical research facility planned for Franklin, TN, 15 miles south of Nashville. When completed, the 10-acre center will be home to life sciences-focused R&D facilities for biotech, pharmaceutical and medical device companies.