Michigan Gov. Jennifer Granholm has announced the first round of awards from the states new 21st Century Jobs Fund initiative. Totaling more than $100 million, these awards will support applied research and later-stage commercialization of promising new technologies developed at Michigan's public and private research centers.

TBED agencies in two northwest states have released proactive wish lists for state TBED investment in their respective 2007 legislative sessions.



Idaho

In a Sept. 12 teleconference, Idaho Gov. Jim Risch's Science and Technology Advisory Council agreed upon a $38.8 million package to attract and grow new technology businesses, as well as a tax credit program to encourage private investment in high-tech companies.

With an eye toward easing traffic congestion, air pollution, and distributing employment opportunities more widely around Virginia, Gov. Timothy Kaine has created an Office of Telework Promotion and Broadband Assistance. The Office will encourage and promote telework activities for public and private employers, and work to advance innovative models that expedite the deployment of "last-mile" broadband technologies throughout the Commonwealth.

The U.S. Bureau of Economic Analysis (BEA) recently released revised estimates of state personal income from 2003-2005. According to BEA's data, the U.S. as a whole showed an increase of 9.64 percent in per capita personal income over the three years. Twenty-seven states experienced per capita personal income growth greater than the national average.

While politicians across the nation are worrying about where their paycheck will come from in January, TBED programs are determining the best investments elected officials should make for transforming regional economies to be more competitive in a knowledge economy. Join SSTI in Oklahoma City Nov. 1-2 to learn about some of the most successful TBED strategies around the country and trends that should influence future directions.

The South Dakota Biotech Association (SDBIO) is seeking an executive director to manage and coordinate its daily operations, communications initiatives, government relations, member services, and marketing. The executive director will establish a yearly budget and determine funding sources, develop a strategic plan for growth and expansion, and carry out duties, as set by the board of directors. A bachelor's degree is required; an MBA or J.D. degree is preferred. Background experience with government or business also is preferred.

The Louisiana Recovery Authority and the Louisiana Board of Regents recently unveiled a $28.5 million Research Commercialization and Educational Enhancement Program to stimulate economic development within the portions of the state severely impacted by Hurricanes Rita and Katrina. Funds for this program originate from the Community Development Block Grants (CDBG) appropriated by the federal government.

 

Early registration has ended and the conference hotel is full, but you still have the opportunity to join representatives from more than 40 states, provinces and three continents at the nations premier gathering of the technology-based economic development field. This is one conference you do not want to miss!

An assessment of patent activity for 3,200 faculty who were awarded patents at 54 U.S. research universities concluded that 33 percent were assigned outside of the university and its technology licensing offices (TLOs). Furthermore, 42 percent of the faculty members who were awarded patents from 1989 to 2003 bypassed their university and TLO at least one time to attain a patent.

The National Science Foundation (NSF) has awarded a total of $76 million over the next five years to fund multi-university collaborations to support four cross-disciplinary centers to address fundamental questions in the areas of next-generation polymers, climate modeling, microbial oceanography and coastal environments.

The recently released Economic Development Strategic Plan for the Commonwealth of Virginia includes measurable benchmarks to gauge the building blocks for economic development. As required by legislation, each of Virginia's governors must establish an Economic Development Strategic Plan within his first year in office. The 2006 version is the result of collaboration between the cabinet of Virginia Gov. Tim Kaine, business leaders, economic development professionals, and private citizens.

 

If the most important jobs of the future will be connected to science and engineering disciplines, then, the current thinking goes, the U.S. needs to have more scientists and engineers in its future workforce. To achieve this, more emphasis needs to be placed on science, technology, engineering and mathematics (STEM) curricula, beginning with math and science education in the K-12 experience.

According to a recently released report by the U.S. Bureau of Economic Analysis (BEA), investment in research and development accounted for 4.5 percent of the growth of inflation-adjusted U.S. gross domestic product (GDP) between 1959 and 2002. This value has increased in recent years, with R&D contributing to 6.5 percent of GDP growth from 1995 to 2002.

 

The venture capital fund investing in biotechnology companies that locate to the North Carolina Research Campus is doubling its holdings to $200 million. This substantial increase is a result of a donation provided by David Murdock, the billionaire businessman and owner of Castle and Cooke Inc. who also provided the initial $100 million to start the fund. The venture capital fund is an integral component of the $1.5 billion biotechnology hub being constructed in Kannapolis, N.C. 

 

In a time of tightening budgets and funding shortfalls, many institutions are searching for innovative sources of capital to finance their investment needs. Financial Innovations for Accelerating Medical Solutions, a recent report from the Milken Institute, provides some insight on inventive ways to raise capital for the biotechnology industry. 

 

On Oct. 31, SSTI will offer four exciting options as pre-conference activities. Registration is separate from the full conference fee.



Transforming a Regional Economy: Moving Forward Together