Policymakers must understand the ways in which the information technology (IT) revolution is transforming business operations across both new and traditional industries, according to Paul Sommers and Daniel Carlson, the authors of What the IT Revolution Means for Regional Economic Development, a discussion paper prepared for the Brookings Institution Center on Urban and Metropolitan Policy.

Several recent project announcements highlight communities using incubators and research parks, some of the tools for technology-based economic development, in specialized formats to capitalize on existing strengths and nurture additional growth of clusters of related tech firms. Such targeted approaches can help to focus other TBED activities for additional benefits.

The President’s Council of Advisors on Science and Technology (PCAST) drafted and approved four reports in 2002. Three of those reports are now available online at http://www.ostp.gov/PCAST/pcast2002rpt.html. Each report was submitted to President Bush and is briefly synopsized below.

The federal role in early-stage technology development (ESTD) is much more important than may be suggested by collective R&D statistics, suggests Between Invention and Innovation: An Analysis of Funding for Early-Stage Technology Development, a report by the National Institute of Standards and Technology (NIST).

Jeff Bond, former long-time manager of the BMDO SBIR program, has been named Acting DoD SBIR/STTR Administrator, replacing the retiring Ivory Fisher.

The University of Nebraska Technology Park has named Steve Frayser as president.

Jeff Bond, former long-time manager of the BMDO SBIR program, has been named Acting DoD SBIR/STTR Administrator, replacing the retiring Ivory Fisher.

The University of Nebraska Technology Park has named Steve Frayser as president.

Illinois Governor Rod Blagojevich has nominated Jack Lavin to run the newly named Department of Commerce and Economic Opportunity. The agency was formerly called the Department of Commerce and Community Affairs. Lavin was chief financial officer for Rezco Enterprises.

An educated workforce is one of the elements required for a knowledge economy, but not all of the critical jobs require a Ph.D. or even a B.A. Few would dispute, though, the importance of successfully completing high school.

Seats Available for Developing Angel Organizations, Financing TBED Workshops

Randy Burge has announced his resignation as director of the New Mexico Department of Economic Development's Office of Science and Technology. Mike Orshan will serve as acting director beginning Sept. 29.

Randy Burge has announced his resignation as director of the New Mexico Department of Economic Development's Office of Science and Technology. Mike Orshan will serve as acting director beginning Sept. 29.

Donald Jakeway will be the new president and CEO for the Michigan Economic Development Corp.

Joseph James is the new chief operating officer for the South Carolina Department of Commerce.

The Florida Venture Forum named Robin Kovaleski as the first executive director for the organization.

Former U.S. Congresswoman Connie Morella has been sworn in as the US Ambassador to the Organization for Economic Cooperation and Development.

SSTI extends its sympathies to the family of Indiana Governor Frank O'Bannon. During his interrupted term in office, Gov. O'Bannon proved to be a strong friend of tech-based economic development efforts in the state.

Approximately $350 million in grants recently awarded by one of the nation's leading biodefense research agencies are intended to lessen the effects of any future bioterror attack. Administered by the National Institute of Allergy and Infectious Diseases (NIAID), the funding will be spread over five years for establishing eight Regional Centers of Excellence for Biodefense and Emerging Infectious Diseases Research (RCEs).

Specialization may be the key to successful economic development strategies based on the life sciences, suggests the September issue of the fedgazette, published by the Federal Reserve Bank of Minneapolis. This month's entire e-zine focuses on two issues of importance to many state and local tech-based economic development professionals — biotechnology and clusters.

The availability and use of equity capital for early-stage investments varies greatly across the country. Seen as an integral component of most tech-based economic development, access to venture capital (VC) is on the agendas of several states — but several different approaches are used to address the problem. Recent announcements in four states illustrate the point:

A new study examining the post-Sept. 11 economy of New York argues the city's traditional approach to economic development, one which has banked on a few favored sectors such as financial and business services, is outdated and should be reconceived.

Nineteen projects figure to share in the $23 million awarded last week by the U.S. Department of Agriculture (USDA) and the Department of Energy (DOE) for biomass research, development and demonstration activities.

Two new grants, each greater than $1 million, have been awarded by the National Science Foundation (NSF) to study the societal implications of nanotechnology — the emerging discipline that seeks to control and manipulate matter on a molecular scale. The grants are the largest awards the foundation has ever devoted exclusively to research in societal implications.

Tight budgets are causing many state and local tech-based economic development (TBED) programs to delay new initiatives, even forcing some to scale back on the services already provided. But mottos like "getting more bang for the buck" and "doing more with less" are fast becoming tired, transparent clichés.

Through an editorial glitch between browsers, the two external links were inoperable in the lead story in last week's issue of the SSTI Weekly Digest, "President Wants Point Person on Manufacturing." Corrected links are available below and on the Web version of last week's issue (http://www.ssti.org/Digest/2003/090503.htm).