Workforce development key to state economic development initiatives
A report on employment trends from hiring firm Robert Half found that 2020 presents greater challenges for employers looking to expand their workforce as the country’s labor market is near full employment and job openings remain at high levels.
States address workforce issues pushed to forefront by pandemic
Faced with the sudden, unprecedented fallout from the COVID-19 pandemic, Gov. Ned Lamont last month launched a new resource to provide workers and businesses in Connecticut with career tools, including partnering with Indeed and workforce training providers.
Tech Talkin’ Govs 2020: AL, CT, MD, OK, PA, TN, WY look to education, workforce and energy initiatives
With nearly 40 of the state governors now having given a state of the state or budget address, innovation themes continue to echo in their reviews of past accomplishments and plans for the coming year.
Foundation commits $50 million to helping Tulsa become a tech hub
Tulsa Innovation Labs has received a $50 million commitment from the George Kaiser Family Foundation to help develop the city of Tulsa as a technology hub. The funds will go towards assisting the new organization to support local talent, startups and academic innovation.
States dealt blow with pandemic
In general, the effect of the pandemic on states’ budgets due to the wave of business, retail, and commerce shutdowns, as well as other reduced economic activity across the nation, is not entirely known, or too early to forecast; however, a number of states are beginning to experience the initial impacts of a substantial downturn. With several states having already enacted their 2020-21 budgets, special sessions are expected later this year to deal with declining revenues. Others ended sessions early without a new fiscal year spending plan in place.
Manufacturing wage growth supporting Appalachian economy
Earnings for Appalachian manufacturing workers grew 3.4 percent from 2012 through 2017 to an average of $63,583. The growth is in the Appalachian Regional Commission’s Industrial Make-up of the Appalachian Region, 2002-2017, which reviews employment and wages by sector across the region. Appalachian workers overall saw earnings increase by 3.7 percent over the five years.
States’ fiscal picture improves with growing economy
The ability of states to deliver the services promised to its residents relies on their fiscal soundness. With most states beginning their fiscal year in July, SSTI has reviewed the current fiscal standing for each state and here presents a snapshot of our findings.
The ability of states to deliver the services promised to its residents relies on their fiscal soundness. With most states beginning their fiscal year in July, SSTI has reviewed the current fiscal standing for each state and here presents a snapshot of our findings.
Most states ended their fiscal year with a surplus and continue to recover from the Great Recession, with a growing economy and job gains. However, they face continuing demands on their budgets, with expanded Medicaid payments and the growing opioid crisis confronting nearly every state. Such decisions affect the state’s ability to fund innovation efforts, from the amount of support available for higher education and STEM programs, to funding for entrepreneurship, and forging public private partnerships to strengthen innovation programming that the private sector cannot fully support.
Our analysis found that some states that rely on the energy sector to fund their spending priorities continue to struggle, while others are already factoring in anticipated revenues as a result of new Supreme Court rulings involving gaming and online sales tax collections.
Tennessee Promise paying off
New data analyzing the first cohort of Tennessee Promise students reveals a higher graduation rate and increased number of students earning a college credential when compared to the previous year’s non-Promise cohort. The inaugural class of Tennessee Promise students graduated from high school in 2015 and completed their five semesters of eligibility in December.
New data analyzing the first cohort of Tennessee Promise students reveals a higher graduation rate and increased number of students earning a college credential when compared to the previous year’s non-Promise cohort. The inaugural class of Tennessee Promise students graduated from high school in 2015 and completed their five semesters of eligibility in December. The program is showing impressive early results including:
Key ballot initiatives to impact state futures
SSTI has reviewed the ballot initiatives across the country that affect innovation. Several states have energy initiatives on their ballots, while higher education funding is at play in Maine, Montana, New Jersey and Rhode Island. Utah could become only the second state to fund its schools through gas taxes, if a measure there is passed. At the same time, four states have ballot issues addressing redistricting commissions which could have a significant impact on state legislative makeup when lines are redrawn after the 2020 census.
Arizona
SSTI has reviewed the ballot initiatives across the country that affect innovation. Several states have energy initiatives on their ballots, while higher education funding is at play in Maine, Montana, New Jersey and Rhode Island. Utah could become only the second state to fund its schools through gas taxes, if a measure there is passed. At the same time, four states have ballot issues addressing redistricting commissions which could have a significant impact on state legislative makeup when lines are redrawn after the 2020 census.
ARC announces $26.5M in POWER grants
The Appalachian Regional Commission (ARC) announced its latest round of grants for Partnerships for Opportunity and Workforce and Economic Revitalization (POWER).
The Appalachian Regional Commission (ARC) announced its latest round of grants for Partnerships for Opportunity and Workforce and Economic Revitalization (POWER). The 35 grants totaling $26.5 million support workforce training and education in manufacturing, technology, healthcare, and other industry sectors; invest in infrastructure enhancements to continue developing the region's tourism, entrepreneurial, and agriculture sectors; and, increase access to community-based capital, including impact-investing funds, venture capital, and angel investment streams. The awards are projected to create or retain over 5,400 jobs and leverage more than $193 million in private investment into 59 Appalachian counties.
A few of the awards (with SSTI members in boldface) are highlighted here:
States, industry partners launch workforce training efforts focused on 21st century jobs in CA, KY, MD, MI, NC, TN
Due to the effectiveness of employer-sponsored training program, U.S. states are working to build partnerships with industry partners that leverage public resources to help develop a 21st century workforce that addresses specific industry needs. Over the last month, partnerships have been announced between states and key industry leaders including AGCO, CVS, Tesla, and the U.S. Chamber of Commerce Foundation. Some of those collaborations are detailed below.
Due to the effectiveness of employer-sponsored training program, U.S. states are working to build partnerships with industry partners that leverage public resources to help develop a 21st century workforce that addresses specific industry needs. Over the last month, partnerships have been announced between states and key industry leaders including AGCO, CVS, Tesla, and the U.S. Chamber of Commerce Foundation. Some of those collaborations are detailed below.
States look to investment tax credits to increase economic growth in DE, NJ, TN
Over the past few weeks, Delaware, New Jersey, and Tennessee have proposed, announced or expanded investment tax credit programs to spur job creation and innovation. In Delaware, Gov.
Over the past few weeks, Delaware, New Jersey, and Tennessee have proposed, announced or expanded investment tax credit programs to spur job creation and innovation. In Delaware, Gov. John Carney signed the Angel Investor Job Creation and Innovation Act, while Tennessee is expanding its Angel Tax Credit criteria, and New Jersey is proposing establishing innovation zones and tax credits for high-tech businesses within those zones.
Launch Tennessee entrepreneurship festival registration open
The 36|86 Entrepreneurship Festival, being held Aug. 29-30 in Nashville and powered by Launch Tennessee, is one of the Southeast's largest gathering of entrepreneurs, innovators, VCs and ecosystem builders. Join your peers to hear from Fortune 500 leaders, startup founders, and top VC's from around the country. Agenda highlights include impact investing, opportunity zones, startup ecosystems done right and going to market right the first time.
States launch more help for students in completing education
North Carolina and Tennessee are implementing new initiatives to get students in their states the help they need to either complete degrees or training that will help improve workforce development in those states. North Carolina’s governor recently added a new line of grants dubbed “Finish Line” grants, to help students that are struggling with non-academic problems complete community college.
States launching new tech commercialization programs to strengthen economies
Knowing that research universities are integral to the innovation in this country, states continue their efforts to build the economy by supporting efforts to move the research from the labs to the market.
People in TBED
Greg Main, Oklahoma's former secretary of commerce, has been named president and CEO of the Oklahoma Technology Development Corp., which runs the Oklahoma Technology Commercialization Center.
People in TBED
Oklahoma Governor Brad Henry has named Tulsa businesswoman Kathryn Taylor to serve as Secretary of Commerce. The position oversees the state's economic development, commerce, and tourism activities. David Lopez, a retired officer of SBC Communications, will serve in the voluntary, unpaid position as the Governor's economic development advisor.
OCAST Building A Strong Tech-based Future
The Oklahoma Center for the Advancement of Science and Technology (OCAST) has provided the state an 8:1 return on its $78 million investment since 1993, according to From Concept to Commercialization, a new OCAST impact report, and accompanying press release. The state's leading organization for building a tech-based economy finds its client companies also have enjoyed a 90 percent survival rate.
People
Andrew Kim is the new policy director for Tennessee Governor Phil Bredesen.
OTDC Seeks President and Chief Executive Officer
The Oklahoma Technology Development Corporation (OTDC), a private, not-for-profit corporation dedicated to the creation and expansion of high-technology businesses in Oklahoma, is seeking a President and Chief Executive Officer.
People
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.
People
John Bradley is the Tennessee Valley Authority's as its first chief of economic development. Bradley had been senior vice president of economic development at the Memphis Regional Chamber of Commerce.
People
Randy Goldsmith resigned as President & CEO of the Oklahoma Technology Development Corp to assume the role of President and CEO of the San Antonio Technology Accelerator Initiative.
Central Tennessee Gets New Life Science Campus
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.
Transforming Regional Economies. Oct. 31-Nov. 2. Oklahoma City
SSTI is pleased to give regular Digest readers the first peek at the four intensive pre-conference workshops, which will precede SSTI's 10th annual conference on Nov. 1-2. Registration may be completed online at: https://www.ssti.org/Conf06/registration.htm.
Turning Innovations into Enterprises: A Practitioner's Guide to Technology Commercialization