A jobs bill that garnered near unanimous support in both legislative chambers was signed into law by Gov. Jodi Rell last week. The bill includes pre-seed funding for innovative ideas, a program authorizing tax credits for insurers investing in many different types of businesses, including technology startups, student loan reimbursements to retain green collar workers, a small business loan pool, and a green manufacturing pilot program.

Fifteen communities across the U.S. recently were selected to implement health information technology (IT) infrastructure and servicing as part of an overall $100 billion federal investment in science, innovation and technology through the American Reinvestment and Recovery Act. These pilot communities will receive a total $220 million for projects that include providing better control of blood pressure for diabetic and hypertensive patients, improvements in care coordination and chronic disease management, and reductions in preventable emergency department visits and re-hospitalizations.

A coalition of twelve private foundations will contribute $506 million to support U.S. education innovation and reform efforts. A portion of the contribution will be designated to match funds from the U.S. Department of Education's Investing In Innovation Fund (i3), which offers grants to local agencies, nonprofits and school districts to support innovative education initiatives. Find out more about the fund ...

During the first year of the current U.S. recession, the bioscience industry continued to create jobs, according to a recent report from the Battelle Memorial Institute and the Biotechnology Industry Organization (BIO). While overall employment fell by 0.7 percent in 2008, U.S. bioscience employment grew 1.4 percent. Though the authors acknowledge that the full impact of the crisis was not felt until 2009 (for which employment data is not yet available), evidence indicates that biotech companies were not as negatively affected as other firms.

A recent report from the National Science Foundation (NSF) shows that funding for general science and basic research grew by 17.5 percent between 2008 and 2010. The report divides federal R&D funding into 20 categories defined by their function. Basic research comprises 7.2 percent of the proposed FY10 budget, up from 6.2 percent in the actual FY08 budget. Meanwhile, national defense, the leading target of federal R&D funding, dropped from 59 percent of total funding to 57 percent. Read the report ...

Kentucky Governor Steve Beshear will host a conference sponsored by the Southern Technology Council exploring changing consumer demands and global competitions in the Southern automotive industry. The conference, titled Driving the Next 20 Years: Creating the New Automotive Industry in the South, will feature speakers from Toyota, Ford, Daimer and Nissan and panel discussions on auto R&D, site location and supporting the industry. The event will be held June 7-8 in Lexington, KY. Read more about the conference ...

A nationally recognized nonprofit organization creating economic transformation in Northeast Ohio, JumpStart Inc. provides resources to entrepreneurs leading high potential, early-stage companies. JumpStart CEO Ray Leach discusses how the organization has successfully partnered with regional organizations and philanthropic institutions to achieve its tremendous success. Download the interview ...

Automation Alley in Troy, MI is seeking a business accelerator client coordinator. Some of the responsibilities include managing business accelerator client process from intake to referral and ongoing client support, coordinating with shared services for administrative functions and maintaining accurate SalesForce information for all clients.

Despite receiving some bipartisan support, the America COMPETES Reauthorization Act of 2010 failed to attract enough support to pass in the House on Wednesday. As a suspension, the bill required support from two-thirds of the House, but fell short in the final tally, 261-148. The reintroduced bill contained a 50 percent cut in the funding path from the previous version and shortened the authorization period for its programs from five years to three years.

On Monday, the Senate Banking Committee voted to amend language in the financial reform bill that had drawn criticism from many organizations supporting entrepreneurship and equity investment. In its original form, the bill would have raised the net worth requirements for accredited investors, significantly reducing the pool of angel investors and capital for early-stage businesses (see the April 14, 2010 issue). A vote is expected later this week.

At the close of the 2010 legislative session in Minnesota this week, several initiatives supporting the state's tech-based economic development agenda were enacted into law. To help make the state more competitive, the Minnesota Science and Technology Authority was established to develop and implement a comprehensive strategy for growing the state's economy through investments in science, technology and innovation.

Wisconsin Governor Jim Doyle recently signed several economic development bills intended to spur job creation and high-tech development. The new legislation authorizes additional job creation tax credits, expands the state's enterprise zones program and establishes new incentives for angel investors. Key among the bills is Wisconsin's CORE Jobs Act, which creates and expands a number of tax credits, loan and grant programs for manufacturing, R&D and venture capital investment.

Gov. Jan Brewer last week signed a measure modifying Arizona's existing R&D tax credit legislation to allow for small businesses to collect discounted refunds on R&D tax credits already earned. The measure is hailed as an important tool for providing small, tech-based companies with access to capital. Read the Arizona Technology Council press release ...

After a difficult 2008, venture capital returns improved slightly at the end of last year. Returns reached 3.3 percent in the fourth quarter of 2009 and 3 percent for the year, after falling 16.5 percent during 2008. Though the three-, five- and ten-year figures remain discouraging, the National Venture Capital Association reports that returns have continued to improve in 2010. Read the NVCA release ...

Wisconsin Governor Jim Doyle recently signed several economic development bills intended to spur job creation and high-tech development. The new legislation authorizes additional job creation tax credits, expands the state's enterprise zones program and establishes new incentives for angel investors. Key among the bills is Wisconsin's CORE Jobs Act, which creates and expands a number of tax credits, loan and grant programs for manufacturing, R&D and venture capital investment.

Compiling SBIR Phase I awards and proposal statistics by state for FY09, SSTI finds the 10 states with the most awards in FY09 were California (853), Massachusetts (526), Virginia (239), New York (213), Maryland (209), Colorado (198), Texas (172), Ohio (168), Pennsylvania (154), and Florida (109). Compared to the top states for FY08, Maryland moved up one position to fifth place, swapping places with Colorado, which dropped to sixth place. Ohio edged out Pennsylvania to move up one spot into eighth position, pushing Pennsylvania down one spot from last year to ninth place.

TBED People
Michael Burcham has been named the first president of the Nashville Entrepreneur Center. Burcham currently serves as a clinical faculty member at Vanderbilt University's Owen Graduate School of Management.

Lawmakers in Georgia and Kansas recently approved scaled-back funding for their states' respective tech-based economic development (TBED) programs in the coming fiscal year. Although many states are struggling to fill large deficits in the aftermath of a national economic downturn, funding for TBED initiatives, even at reduced levels, continues to be a priority for most states as a means to grow and diversify the economy.

Georgia

Enlisting support from industry, policymakers and academics, Gov. Deval Patrick unveiled an initiative to help the state's manufacturers evolve with changing technology, adopt new innovations, and grow their operations through a new multi-tiered loan program. The Advanced Manufacturing Initiative is a public-private collaboration designed to maximize job creation within the manufacturing sector, which added more than 19,000 jobs last month, according to the governor's office.

The Department of Health and Human Services, with the Department of Treasury, has released detailed guidelines for biotechnology companies interested in applying for the research tax credit introduced in the Health Care bill earlier this year. The Qualifying Therapeutic Discovery Project Credit provides a 50 percent income tax credit for investments in certified research projects made in 2009 and 2010. A total of $1 billion in credits will be available. Applications for certification must be submitted to the Internal Revenue Service (IRS) by July 21 for the primary allocation round.

The Department of Health and Human Services (HHS) and the National Institutes of Health (NIH) are seeking input on proposed changes to its conflict of interest policy. As multidisciplinary, public-private research teams have become more common, HHS standards to ensure objectivity have become more complex. The department is asking for recommendations that would increase transparency and streamline regulations. Comments are due by July 20. Read the announcement ...

Kansas is home to more than 20,000 green jobs and expects that number to reach 30,000 by 2012, according to a recent survey by the state Department of Labor. The survey of 6,000 Kansas employers reveals that job growth in renewable energy, energy efficiency will drive green job numbers over the next two-to-three years. The biggest employment gains are expected in the renewable energy sector, which is expected to grow by 121 percent. Read the report ...

Entrepreneurship in the U.S. reached a 14-year high in 2009, according to a new study. The Kauffman Index of Entrepreneurial Activity, which tracks national and state entrepreneurship rates, found that 340 new businesses were created for every 100,000 adult residents each month during 2009. Oklahoma and Montana led the nation with 470 new businesses per 100,000 adults. Read the report ...

The Research & Technology Development (RTD) Program, a flagship program of the Washington Technology Center has helped fill a critical role in enhancing Washington state's efforts in commercializing research by bringing companies and university researchers together. In SSTI's exclusive interview, Chris Coleman shares valuable insight on how the program continues to produce impressive returns after nearly two decades. Download the interview ...

The State of Washington led the country in 2007 in federal funding for industrial research and development (R&D), receiving $3.27 billion, according to the latest numbers from the National Science Foundation (NSF). While 42.3 percent of total federal R&D funding supported industrial R&D, 69.5 percent of federal funding in Washington went to private companies. Arizona, Maine, Connecticut, Nevada and Texas all received more than 65 percent of their federal R&D dollars in industrial support.