South Carolina uses lottery funds to build its innovation economy Saturday, December 07, 2002 In an effort to stimulates its innovation economy, the South Carolina state legislature has set aside $30 million in lottery funds to finance research projects at three universities: Clemson, the University of South Carolina and the Medical University of South Carolina. Last week, the universities submitted 27 proposals, totaling over $100 million. Now it's up to the nine-member Centers of Excellence Review Board, made up of business leaders and former legislators, to decide which projects get funded. They expect to decide by next May. Read more. Go Momentum has been building in South Carolina for a change in direction in economic development. State per capita incomes are only 81% of the national average, compared to 91% in North Carolina and 94% in Georgia. A recent report by the Center on the Future at Clemson highlights the slow development of technology-based businesses in the state. Post secondary institutions have suffered under tight budgets in the state, but the lottery compromise should help. Among other steps, it establishes an Endowed Chairs program to build up the state's research base. THis approach makes sense, because it invests money in people, not bricks and mortar. Ultimately, the prospects for building the state's innovation economy come down to political commitment in the legislature. 2003 will be another tough budget year, and the legislature will be facing a severe challenge to keep its commitment to this new direction. In January, I start on a new strategy project in Charleston, so I will be watching this one closely. posted by Ed Morrison |		This work is licensed under a Creative Commons License. links Some Background on EDPro Weblog The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it. One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information. So, spread the word...Share the knowledge. Tell a friend about EDPro Weblog. If you are using a news reader, here is the link to syndicate this site: Here's the link if you are a bloglines subscriber: Speaking and workshops on Open Source Economic Development As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking. Background on Ed Morrison Download some background information on me here.

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