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My money is on Albany
Saturday, May 31, 2003 Austin, TX is another region trying to revamp its economic development strategy. Its closest competitor, oddly enough, is Albany, NY. International Sematech, the computer chip consortium based in Austin, recently opened a research center in Albany. Folks in Austin are worried that more investment might migrate north. So, they hired a consultant and asked him to define a new strategy. From the consultant's perspective, prospects in Austin don't look so good, apparently. He recently issued an interim report (with a final report due in September). Read about it. Meanwhile in Albany, they are moving forward with an aggressive agenda to remake the economy. Led by the Center for Economic Growth, the Albany Region has launched a number of impressive initiatives. In sum, Albany is learning by doing. Instead of waiting on "outside experts", Albany is forming partnerships with local talent. My money is on Albany. posted by Ed | Another regional group forms EDPros in southeastern Connecticut and southern Rhode Island are forming a regional group. “Why collaborate?” asked Cynthia H. Clegg, president of the Chamber of Commerce of Eastern Connecticut, as she announced the new group at an economic summit. “Well, I guess the better question is, why not?” Learn more. posted by Ed | Fixing North Carolina There's no shortage of ideas on how to fix North Carolina's economic strategy. Like other states, North Carolina is facing a cold, hard fact: the economic development formulas of the past don't work as well. The Governor is focused on promoting education, and he's got that right. But critics are probably on to something when they say that the state needs to reform its tax system, restructure economic development, and boost university-based research and technology transfer. Read a review. Today in our history of innovation... Today is the birthday of Wheaties. In 1884, Dr. John Harvey Kellogg applied for a patent for "flaked cereal". He was trying to improve the vegetarian diet of his hospital patients. He was searching for a digestible bread-substitute by boiling wheat. Kellogg accidentally left a pot of boiled wheat to stand and become tempered. When he put the mixture through a rolling process, each grain of wheat emerged as a large, thin flake. Then he baked the flakes, and they became crisp and light, creating an easy to prepare breakfast when milk was added. posted by Ed | Using "mini-hubs" to spread development to rural counties Friday, May 30, 2003 As part of its strategic planning process, Research Triangle Park is looking at the concept of a "mini-hub" to spread development into outlying rural counties. Learn the background. Download a copy of the report that explores the concept. The idea includes using existing parks, providing higher-end amenities, and building on connections with existing firms. posted by Ed | South Carolina's blueprint for economic development reform To reform his state's economic development strategy, South Carolina Governor Mark Sanford is following the general guidelines set out in a report issued by a task force he appointed. Download a copy. posted by Ed | Impact of China on our manufacturing base Here's an interesting report on the impact of Chinese competition on the manufacturing base in Minnesota. The conclusions of the report likely apply to your state as well. Go. posted by Ed | Building entrepreneur networks in rural Minnesota Higher education leaders in Northern Minnesota are moving forward with a number of interesting ideas to conect higher education and economic development in rural Minnesota. Some years ago, they founded True North, a group of higher education institutions working collaboratively to serve the lifelong learning needs of the people in the Arrowhead region of northeastern Minnesota. True North started off by managing a series of dialogue sessions to align local communities to a set of common goals. Now, they are moving ahead with a plan to launch technology-based businesses in vacant storefronts throughout the region. Local communities would acquire the property and then work with True North to get the training and support they need to manage them. But that's not all. The centers will have broadband, student interns, and connections to seed capital. Learn more with this article and this article. Today in our history of innovation... In 1848, William G. Young of Baltimore, Md received the first U.S. patent for an ice cream maker. posted by Ed | Yo, Montana, here's your $170,000 back Thursday, May 29, 2003 Being a consultant, I feel a little awkward telling other EDPros that they don't need consultants as much any more. But that's the dirty little secret. Take the case of Montana. They just spent $170,000 on a statewide cluster study. Yesterday, in Montana, the state's ED leadership just had a big launch of the report with an economic summit. Well, there's only one catch. Michael Porter, the godfather of clusters, has already put most of this information on the web for free. You can get a good overview of your state's clusters on this page If you are in a metro area, you can get the data from his Cluster Mapping Project. If you are still eager to learn what clusters are all about, shell out $28, and buy Michael Porter's On Competition. He explains how to do a cluster analysis in the book. (It's pretty simple.) Architects are fond of saying, "God is in the details." And so it is with clusters. There's no magic here. Clusters form naturally. And good EDPros can accelerate their development by encouraging stronger relationships needed for competitive communities. It's applied common sense. Nothing more. The best place to learn is from other EDPros. That's what this weblog is all about. As for consulting, my guess is that the days of the big consulting study are numbered. There are no experts anymore. Today in our history of innovation... Today was a lucky day for Thomas Edison. He received eight different patents: three in 1883, four in 1906; and one in 1923. (I'm getting tired just reading about them.) posted by Ed | Read this article Wednesday, May 28, 2003 Here's a good article on the changing role of universities in economic development. It includes some examples of university-based centers. Go. posted by Ed | Stronger civic infrastructures attract more private investment A new study by Brookings indicates that cities with the strongest and most diverse network of non-profit community development organizations realize greater private sector participation. Today in our history of innovation... In 1897, Pearl B. Wait, a carpenter and cough medicine manufacturer from LeRoy, N.Y., introduced Jell-O. He produced varieties in strawberry, raspberry, orange and lemon fruit flavors, that his wife, May Davis Wait, named Jell-O. Initial sales were poor. Wait sold the Jell-O business for $450 to his neighbor, Orator F.Woodward, who had founded the Genesee Pure Food Co. two years earlier. Success came slowly, but with Woodward's creative sales and sampling strategies, Jell-O began to catch on. In 1902, when he launched his first advertising campaign in Ladies' Home Journal, sales eventually reached $250,000. If you are in upstate New York, you can visit the Jell-O Museum. posted by Ed | Rural West Texas builds a "hub and spoke" incubator network Tuesday, May 27, 2003 EDPros in West Texas are building a hub-and-spoke network of incubator facilities throughout the Panhandle area. This is an idea that EDPros in other rural regions should examine. West Texas A&M University, with funding provided by the State of Texas and the U.S. Department of Commerce Economic Development Administration, will renovate an existing facility in Amarillo as the project’s hub location. This building will accommodate start-up and early-stage businesses and will house the administrative offices of the incubator program. Here's some additional background on the Amarillo facility. A number of communities throughout the region have been selected as satellites of the hub facility. Amarillo will serve as the hub and the incubators will be located in Dumas, Plainview, Hereford, Borger, Pampa and Childress. This week, the city commission in Dumas, TX approved a major commitment for a satelllite building. The building will located in the Dumas Business Park. The building will be connected through a virtual support system to allow entrepreneurs access to consulting and training services. Learn more. You can contact the Dumas Economic Development Corporation here. posted by Ed | Retirees boost some rural towns Some smaller rural towns find that retirees provide an economic development boost. Read more. Retirees are on the downhill side of the earning curve (they spend money), so attracting 100 retirees is not much different in economic impact as attracting a plant with 100 employees. Today in our history of innovation.. In 1930, Richard G. Drew of St. Paul, MN received a patent for cellophane transparent adhesive tape. He assigned the rights to the 3M Company, which marketed the tape under the trademark "Scotch." posted by Ed | Philadelphia's innovation roadmap Saturday, May 24, 2003 Philadelphia is moving ahead with an innovation economy agenda. They call it a "Roadmap for Regional Growth". In 1991, the Hong Kong government published a report, Technology Roadmaps for Hong Kong, and it is a good metaphor for us to be using. As the Hong Kong report notes, the metaphor of a road map refers to the technology landscape with a network of roads leading to commercial opportunities. (I throw this stuff in so that you can impress your friends.) The consultants writing the Philadelphia roadmap are a little breathless at times, and they might be more persuasive if they could tone down their rhetoric. Here's an example: "If the region could focus attention on advancing just 25 of these firms to annualized sales of $100 million or more, imagine the economic impact on jobs, real estate, and expanding vendor-supplier chains!" Nevertheless, the report provides a very detailed analysis of the region's innovation economy. In this way, it presents a more valuable guide to cluster formation than most of Porter's work. Porter's core notion of a competitive diamond may offer insights at the level of a firm, but it does not provide much guidance for regional economies. This report's focus on an "innovation lifecycle" is a little clunky, but it does underline an important point: Building clusters is very complex, detailed work. You can download the summary here or the entire report here. (Both are big downloads, 2+ MB.) posted by Ed | Want to build brainpower? Focus on early childhood development Early childhood development continues to move toward the center of the education/workforce debate. Georgia started the march in the mid-1990's. The Commission on the Future of the South took up the cause in its 1998 report, Southern Connections. (You can download the Commission report, which I authored, from this page.) Last fall, the business-led Committee for Economic Development issued a report on the topic, Preschool for All. Then earlier this year, the Minneapolis Federal Reserve issued a study promoting investments in early childhood education. Now, Governor of the Bank of Canada is pushing for changes in outlook. His argument in a nutshell: of all the investments we are making in workforce development, money invested in early childhood education provides the "biggest bang for the buck" for economic development. Earlier this week, I posted a review of what some states, led by Georgia, are doing. posted by Ed | Shifting the strategic balance in Duluth, MN Economic development strategies fall into two broad categories: those that are publicly-led and privately supported and those that are privately-led and publicly supported. Each has its place, and each requires different leadership skills. A balanced economy requires both. Places like Cleveland, OH and Charleston, SC excel at publicly-led, privately supported strategies, but they are not so good with privately-led initiatives. Other places, like Research Triangle Park, Austin, and (more recently) Albany, NY excel at privately-led strategies. Some places, like Oklahoma City, have success with both approaches. Other places can't do either. Now Duluth, MN is trying to make the shift from publicly-led to privately-led strategy. In coming months, Charleston, SC will be making a similar shift it its focus. Here's a good article that explains the logic behind Duluth's shift. posted by Ed | Eight small communities build a brand In an effort to develop a clearer brand, eight smaller, outlying municipalities in Houston have formed a new region, called Bay Area Houston. EDPros in smaller communities should explore some of the thinking behind this strategic marketing initiative. Today in our history of innovation... In 1883, Brooklyn Bridge opened over the East River in New York City. (Historian David McCullough has written a wonderful book on the epic history of building the Brooklyn Bridge, The Great Bridge. It is a remarkable story of engineering, egotism, politics and sheer magic.) posted by Ed | The future of biotech expansion in Massachusetts Friday, May 23, 2003 The Boston Consulting Group has released a report on the future of biotechnology in Massachusetts. You can download it here. The report focuses in part on the looming location decisions for biotech manufacturing. A number of Massachusetts biotech companies are ready to ramp up biotech manufacturing, but executives in these firms have long complained that Massachusetts does not provide easy avenues for expansion. In an effort to address these challenges, the State is moving to assemble a number of "shovel-ready" sites for biotech companies. posted by Ed | Iowa to consider Values Fund next week On May 29, Iowa's legislature will take up the $500 million Values Fund in a special session. To build momentum, three university presidents are pushing the importance of the Value Fund to their institutions. At the University of Iowa and Iowa State, the Values Fund would finance expanded biomedical research and the construction of new incubators. posted by Ed | Atlanta moves to improve logistics The Atlanta Chamber is moving to boost the region's competitive position in logistics. In response to a recent assessment of the logistics cluster in Atlanta, the Chamber is forming a Logistics Task Force. Composed of 45 to 50 industry experts, the Task Force is set to address weaknesses in the region's logistics coordination and infrastructure. According to the Chamber, "The goal of the task force is to develop a 'roadmap' that will position the Atlanta region as one of the top transportation and logistics hubs in this hemisphere over the next 10 years." Learn more. Today in our history of innovation... In 1916, Thomas A. Edison was finally issued three patents for his "Phonograph or Talking Machine." posted by Ed | Texas boosting its research base Wednesday, May 21, 2003 Texas legislature is likely to enact a technology initiative that would create a "virtual" research organization called the Advanced Materials Research Center. Gov. Perry's plan calls for $200 million in funding for the center over five years. Read more. posted by Ed | New Mexico sharpens its recruitment focus During its recently completed legislative session, Arizona revamped its economic development programs. Governor Richardson outlined one of the more ambitious economic development programs in his State of the State address. Now the legislature has delivered. The state is prepared to be a far more aggressive recruiter of technology-based businesses. Recruitment will be led by the newly created New Mexico Economic Development Corporation, and State now has the authority to invest directly into businesses. Read a summary. Today in our history of innovation... A great case of bad timing: In 1929, Sutro and Company of New York City launched the first automatic electric stock quotation board (just in time to get the kinks out before The Crash). posted by Ed | Pre-school moving on to the ED agenda Tuesday, May 20, 2003 "School readiness" is moving to the mainstream of economic development. It makes sense. There's strong research that backs the importance of pre-kindergarten to later school success. Increasingly, our economy runs on brainpower, so EDPros need to know how to develop, attract and retain brainpower. Here's a review of what some states, led by Georgia, are doing. posted by Ed | Build your creative industries into a cluster Today's Providence Journal prompts me to provide a little background on creative industries as an economic development engine. In 1997, the UK government provided the first initiative to consider the "creative industries" as an important industry cluster for economic development. The UK initiative moved the creative industries -- including pop music, fashion, film, computer software and advertising -- from the fringes to the center of UK's economic development strategy. (For more background, follow this link.) In the U.S., the New England Council launched its Creative Economy Initiative three years ago. Their initial report issued in 2000 dramatically redefined the creative industries in New England. A year later, the Initiative issued a second report outlining a blueprint for investment in creative industries. (Both reports are available here.) These reports and the UK web site provide a good background for EDPros interested in working with their creative communities. A commentary in today's Providence Journal (free registration required) outlines the importance of the creative industries to New England. Today in our history of innovation... In 1892, George Sampson patented the clothes dryer. In 1927, at 7:40 a.m., Charles Lindbergh took off from Roosevelt Field in Long Island, N.Y., aboard the "Spirit of St. Louis" monoplane on his historic first solo flight across the Atlantic Ocean. He arrived in France thirty-three and one-half hours later. In 1940, inventor Igor Sikorsky demonstrated his helicopter invention to the public. posted by Ed | Microenterprise: a new frontier for EDPros Monday, May 19, 2003 We used to draw hard distinctions between economic development and community development. The line is blurring, and it probably makes no real sense any more. For example, we know that "quality places" are critical to competing in today's economy. Is this "economic development" or "commmunity development"? The label doesn't really matter. So, EDPros -- especially those in rural areas and inner cities -- need to become more skilled at dealing with a range of new tools, such as microloans. Here's a good article on microloans in New Jersey, and another article from Rhode Island. Last week, Hewlett Packard announced funding awards to nine development organizations that focus on microenterprises. These organizations include the Philadephia Development Partnership, Detroit Entrepreneurship Institute, Renaissance Entrepreneurship Center, Pace Business Development Center, Community Business Partnership, Women Entrepreneurs of Baltimore, The Lakota Fund, and ACCION Texas. For more information on microenterprise development, visit the Association for Enterprise Opportunity. The Aspen Institute also maintains a directory of microenterprise organizations, so you can see it there are any operating near you. posted by Ed | Indiana starts to shift focus to innovation In Indiana, the focus is shifting from recruitment to innovation and building the state's research base. Business leaders are beginning to press for more investment and focus on R&D at Indiana and Purdue universities. Read more. posted by Ed | Arizona's efforts to build in state supply chains Here's a good article on Arizona's efforts to connect Arizona firms with each other. Today in our history of innovation... In 1885, Jan Matzeliger began the first U.S. mass production of shoes in Lynn, MA. posted by Ed | Sustainable development: another new wave in ED Friday, May 16, 2003 In the years ahead EDPros will be confronting more challenges from sustainable development. It's becoming an increasingly "main line" concept. Some years ago, Chattanooga, built its revitalization strategy around this approach. Now, in a project I am directing in the Charleston, SC region, we will be using sustainable development as a key organizing concept. Our approach is pragmatic: over 80% of the business leaders participating in an Internet interview indicated that protecting the environment was an important competitive component for the region. Here's a good article that gives you some background on what is happening in sustainable development in rural North Carolina. posted by Ed | Using videoconferencing to establish global links Here's another emerging trend. Increasingly, EDPros will be using videoconferencing to link their technology companies to partners in different countries. In Northeast Ohio, IT companies are using videoconferencing to link with IT companies in Lithuania. The project is sponsored by the U.S. Department of Commerce. Read more about the event. If you have an idea to develop a similar approach, the American Chambers of Commerce (AmChams) or World Trade Centers can provide local hosts. Alternatively, the U.S. Commercial Service can provide local leads. In a videoconference I organized between Hong Kong and New England environmental companies some years back, I arranged for PictureTel, a leading videoconference company (now PolyCom), to pay for the entire event. posted by Ed | Arizona builds a technology roadmap Arizona has been methodically putting together a technology roadmap for the state. Here's an overview. The article mentions two very good reports. The Batelle report is a technology assessment. It examines the state's research base to find areas in which the state is particularly strong. The Morrison Institute report represents a policy presentation that educates readers to the growing importance of university-based research. Download the Executive Summary of the Battelle report or the full Battelle report. Download the report by the Morrison Institute here. Today in our history of innovation... In 1866, Charles Elmer Hires invented root beer. In 1888, Emile Berliner gave the first demonstration of flat disc recording and reproduction before the Franklin Institute in Philadelphia. In 1946, Jack Mullin demonstrated the world's first magnetic tape recorder. posted by Ed | North Carolina moves rural businesses on-line Thursday, May 15, 2003 North Carolina is a leader in providing rural Internet access. The State is now using this position as a platform to promote electronic commerce among rural businesses. Generally, the Europeans are far ahead of us in launching economic development initiatives to promote e-business. So, it is good to see that at least one state ED program is moving to catch up. Now there's no excuse to get going. North Carolina's Rural Internet Access Authority has put its training manual on-line. You can download the manual, as well as other background materials on Internet access that will get you up to speed. posted by Ed | Pittsburgh forges robotics partnership In an effort to strengthen their region's position in robotics, Pittsburgh's business and educational leadership have formed the Robotics Foundry. Formed from two organizations, the Robotics Foundry is pursuing a vision of end-to-end solutions in applied robotics within a region they define as RoboCorridor. This region stretches from College Park through Pittsburgh to West Virginia. Learn more. This cluster development plan could work, because it combines a strong university research base with a network of sophisticated companies. Today in our history of innovation... In 1923, Listerine first appeared as a registered trademark, and, in 1940, DuPont began selling nylon stockings. posted by Ed | The connection between historic preservation and economic development Wednesday, May 14, 2003 Philadelphia provides good evidence that historic preservation and economic development are closely linked. For EDPros with historic downtowns, the Philadelphia Story provides a good background. It's all part of building quality places. Learn more. posted by Ed | What does it take to build innovation networks? Northern Virginia is a hot spot for entrepreneurs. Richmond, Virginia is not even on the radar screen. (See rankings of the best cities for entrepreneurs.) What's the difference? Here's an excellent article that isolates the factors you need to cultivate entrepreneurs...written, not by an academic, but by an entrepreneur. posted by Ed | Cutting higher education costs as an ED strategy A report in Maine proposes that the State cut college tuitions as an economic development strategy. Lower tuition costs will keep more young people in the state and slow the brain drain. Read a review of the report or download a copy. On the surface, this report touches on two issues that should concern EDPros. The first is simple: affordability. By increasing the costs of post-secondary education, states are reducing the incentives of young people to further their education. State investment in higher education has been in decline since the late 1970s. As states have reduced their support for higher education, public institutions have aggressively raised their tuition rates. The second issue involves migration of high school students and college graduates. This issue is far more complex. According to researchers in this area, about 20% of high school graduates who enroll in college immediately after high school leave their home state to attend college in another state. Following graduation many college graduates then leave the state where they earned their degrees to begin their careers in other states. Students who leave their home states for college are often the most academically talented students and some states -- Florida, Georgia, Louisiana, Ohio -- offer substantial incentives to encourage these students to remain in their home states to attend college. Today in our history of innovation... In 1963, a laser light beam link first carried the TV signal during a network broadcast. It was demonstrated during the CBS program I've Got a Secret. The signal from a studio camera was used to modulate a laser beam that travelled two feet to a receiver that decoded the signal from the beam. That signal was relayed via the control room for the national broadcast. This communication system was the work of GTE scientists Samuel M. Stone and Louis Richard Bloom. (Laser light beams are now routinely used to transmit signals along optical fibres.) posted by Ed | Raleigh Chamber's recruiting trips under fire Tuesday, May 13, 2003 The City questions whether the $150,000 it invests in the Chamber for recruiting trips is worth the price. The case for continuing the trips looks pretty thin to me. Read more posted by Ed | White paper on rural economic development The Kansas Senate Commerce Committee has released a white paper on rural economic development strategy. The paper recommends a focus on entrepreneurship and broadband deployment, among other ideas. Here's a summary. And here's some background on their deliberations. posted by Ed | Minnesota's bioscience ambitions Minnesota wants to be a leader in biosciences within ten years. The governor announced the goal at this week's Biosciences Summit. The state has some of critical elements needed for the strategy: a solid research base in some key technologies like stem cell research, the Mayo Clinic, and some sophisticated medical device companies. Learn more. The challenge will be to knit these elements together into a focused strategy. Here's a more detailed appraisal of Minnesota's prospects. The conclusion: Don't let the political rhetoric get to far ahead of reality. It is important to manage public expectations. Focus on key opportunities in industrial biosciences and medical devices. posted by Ed | You calling me a socialist? Governor Rendell in Pennsylvania has proposed an aggressive investment program to build Pennsylvania's innovation economy. He has touched off a vigorous debate about the role of state government in making the investments needed for the future. Learn the details. What we have here is a failure to communicate. Rendell, a Democrat and former big city mayor, looks at the world inductively. He sees a problem and looks for pragmatic ways to solve it. He looks for what works. Conservative state legislators look at the world deductively. Taking their cue from national politics, they start out with a model of the national economy and make logical, ideological arguments. My own view is closer to Rendell's. At the state and local level, ideological arguments do little to address the real problems we face. Today in our history of innovation... Serbian-American inventor Nikola Tesla received a patent for an electric generator. A highly productive electrical engineer, Tesla teamed with George Westinghouse, head of the Westinghouse Electric Company in Pittsburgh, who bought the patent rights to Tesla's polyphase system of alternating-current dynamos, transformers, and motors. The transaction precipitated a titanic power struggle between Thomas Edison's direct-current systems and the Tesla-Westinghouse alternating-current approach, which eventually won out. posted by Ed | Arizona's blueprint for its research universities Monday, May 12, 2003 Some days ago, Arizona announced the release of a report -- a blueprint, really -- to develop the state's research universities. Research universities are becoming increasingly important assets as states move to build their innovation economies. Prepared by Batelle, Arizona's report provides a good framework for you to get up to speed on these issues. Arizona's report is now available on the web. Download the Executive Summary or the full report. In addition, here's an article on Arizona's university related research parks. posted by Ed | Understanding the SOHO market Micro-businesses, such as home-based businesses, are often neglected in economic development strategies. But they can be important components of a healthy economy. This segment overlaps with the SOHO market -- Small Office, Home Office -- and it attracts a lot of attention from larger equipment and service businesses, like office supply companies, computer manufacturers, and telephone companies. Micro-enterprises (a term used mostly by government agencies and foundations) are often defined as businesses with under 5 employees. SOHO is a broader term that is about 25 years old and originated among analysts in the technology industry. SOHO encompasses a range of entrepreneurial activities and business structures -- from individuals working solo to companies with 20 or fewer employees. They include a range of worker categories and terms: home-based businesses, free agents, independent contractors, telecommuters, e-lancers, and other independent professionals. These definitions are not fixed. The majority of the SOHO market is made up of solo agents. If you think of the SOHO market as a large target, the outer circle represents companies with 12-20 employees. Working from the outside, the next inner circles represents firms with 6-11 employees and 2-5 employees. In the solid center area of the target you'll find the core of SOHO: individuals who are working solo. Here are some additional facts on the market. There's a serious debate about the growing importance of sole practioners to the future of our economy. Read Free Agent Nation to learn more. In Rhode Island, the MicroEnterprise Association provides a continuous cycle of training to this segment. More important, the Association builds a valuable network of contacts for graduates. Learn more from their web site. Today in our history of innovation... In 1874, Elijah McCoy, the prolific African American inventor, patented an ironing table. McCoy is so well-known for useful inventions that his name is used in "the real McCoy." The expression was first applied to his effective lubricating devices for steam engines for which he held numerous patents. With his devices, steam engines no longer had to stop to be lubricated. posted by Ed | EDPros in Erie try to build bridges Many EDPros face fragmentation and turf battles as a daily fact of life. In the future, community competitiveness will depend on how well leaders deal with internal disputes. Community collaboration represents the core competency. See how Erie, PA is trying to overcome their past differences. posted by Ed | Indiana passes innovation incentives Saturday, May 10, 2003 We are starting to see state legislatures retool their economic development incentives away from recruitment and toward innovation. Indiana's governor got his Energize Indiana economic development plan, but with some major modifications.The core of the plan is a $75 million commitment to a technology fund to encourage collaborations between universities and business. The plan also call for regional technology parks and fiber-optic communications among universities. Read the background. Meanwhile, the legislature in Massachusetts is considering a similar $100 million fund to provide grants and loans to high tech businesses. In Maryland, the state's new economic development chief has made technology transfer from universities a top priority. In South Carolina, they are overhauling the state university system to strengthen the research universities. Here's a recent summary. And Iowa's Governor Tom Vilsack is bringing the $810 million Iowa Values Fund legislation back into a special session in just a few weeks. Today in our history of innovation... In 1869, the first railroad to run West out of Chicago was completed, running to Promontory, Utah. posted by Ed | Kentucky introduces employability certificate Friday, May 09, 2003 In a smart move, Kentucky has established a Kentucky Employability Certificate. The state's Cabinet for Workforce Development and the community college system will provide individual assessments of reading, writing and math, among other skills. People who pass the assessment will be given a certificate that indicates they are "job ready". Others will be given a plan for where they need to improve. This initiative handles a major problem we are confronting...too many high school drop outs, high school graduates, and GED recipients with weak work skills. Kentucky has taken a commmon sense approach, and it's one that EDPros can easily promote with their state workforce boards. posted by Ed | The entrepreneurial forecast in Arkansas...it may take a while Last week, the Federal Reserve Bank in Kansas City sponsored a conference on rural entrepreneurship. In a related move, the Winthrop Rockefeller Foundation last month released a report on the entrepreneurial climate in Arkansas. Download a copy. The report provides some clear, specific recommendations, such as "bringing entrepreneurial education programs to at least half of Arkansas’ 310 school districts within five years". But this agenda has a long way to go in Arkansas. When the Federal Reserve Bank held its conference in Little Rock last week, nobody from the State bothered to sign up. posted by Ed | Building an innovation economy along the New Hampshire coast New Hampshire's e-Coast represents the 15 to 20 miles around Portsmouth. The eCoast Technology Roundtable is building the entrepreneurial networks needed for an innovation economy. Learn more about what they are doing and vist their web site. posted by Ed | Remarketing old downtown office buildings In Madison, Wisconsin, a private development company has launched an urban technology center to make downtown competitive. The company has renovated a 200,000 square foot building targeted to attract entrepreneurs and small technology companies. The development includes a 9,000 square foot incubator. posted by Ed | Wilkes-Barre shifts its focus from recruitment to innovation Wilkes-Barre, PA is another community shifting its economic development focus from recruitment to innovation. The new Innovation Center @ Wilkes-Barre starts out in an old Woolworth Building. The Center is based on partnerships between local colleges and the business community. The head is a young professional with solid Internet experience. Smart choice. Learn more. Today in our history of innovation... In 1882, William F. Ford received a U.S. patent for his classic invention, the stethoscope. posted by Ed | The Jibberish of the Creative Class Thursday, May 08, 2003 You may have missed it, but last week, Richard Florida's Creative Summit took place in Memphis. 100 Creative People (anointed by Florida and his team) came together (plus about 25 gate crashers, apparently). They have announced what we all must do to build creative communities. They call their advice the Memphis Manifesto...which, according to Florida and his associates, "will be the definitive report on transforming cities that want to compete for the Creative Class". (It ended up being less than two pages of really pithy guidance...kind of like a Ten Commandments for economic development.) In an effort to stimulate even more creativity in coming up with their Commandments, the organizers asked the Creative Ones to ponder such questions as ""How do we sell 'anti-monoculturalism' to the American economic machine?" Their Commandments range from "cultivate and reward creativity" to "embrace diversity" and "be authentic". (My favorite: "nurture creative workers". I can see a new business opportunity...a line of nurturing products and places. Yanni, are you listening?) Sit back, pour yourself a soothing herbal tea, and read more about New Age Economic Development. posted by Ed | Louisville's mayor promotes venture capital firms Louisville's mayor is launching a new venture capital initiative to grow businesses in the metro economy. The core strategy involves asking Kentucky's two largest public pension funds to earmark part of their portfolios to venture-capital investments. Under the mayor's proposal, the two pension funds would allocate between 2 percent and 3 percent of their portfolios to venture-capital firms. That could make as much as $750 million available for venture investment. Learn more. posted by Ed | Portland, OR muddles ahead Economic development controversies are boiling in Portland. The economy is lousy, businesses are leaving, and business leaders are arguing. Aside from that, everything's fine. Read the latest as the Mayor tries to push forward with her new economic development plan. posted by Ed | Silicon Valley is turning to nanotechnology The Bay Area is organizing to turn the region into a nanotechnology powerhouse along side other states, such as Michigan and New York. Legislation passed this week in the House will provide a valuable foundation for nanotechnology development. The legislation calls for a $2.4 billion research effort to support nanaotechnology development. This legislation is important, because the challenges we face are global in scope. Whoever leads in nanotechnology will have a competitive advantage in the manufacturing of the future. Other countries are moving ahead with aggressive development programs for nanotechnology. Learn more about what is going on in Silicon Valley. Today in our history of innovation... In 1886, Coca-Cola, the soft drink , was first sold to the public at the soda fountain in Jacob's Pharmacy in Atlanta, Georgia. It was invented by pharmacist, John Stith Pemberton, who mixed it in a 30-gal. brass kettle hung over a backyard fire. Until 1905, the drink, marketed as a "brain and nerve tonic," contained extracts of cocaine as well as the caffeine-rich kola nut. The name, using two C's from its ingredients, was suggested by his bookkeeper Frank Robinson, whose excellent penmanship provided the first scripted "Coca-Cola" letters as the famous logo. Asa Candler marketed Coke to world after buying the company from Pemberton. posted by Ed | Austin wakes up to the competition Wednesday, May 07, 2003 Texas has launched a new technology initiative. The effort is triggered by the growing competition in semiconductor research that Austin faces from Albany, NY. Albany is really making solid progress in building a competitive region. Sematech chip research consortium has recently established a new facility there. Beyond that, the Albany region is making smart moves in a range of different areas. According to the leader of the Texas effort, a law partner with Fulbright & Jaworski, "The point of our strategy is to wake up, rally the troops and bring people together." Learn more. posted by Ed | Taking on the "bad climate" toward enterpreneurship How do you change a culture that shuns risk-taking? That's a frequent question among EDPros who face negative attitudes toward building entrepreneurship in their community. The answer is to build networks. That's what the State of Wisconsin is doing. Learn more. The interesting dimension of this conference: it switches the roles of investors and entrepreneurs. Instead of entrepreneurs pitching their ideas to get funding, this conference spotlights investors and asks them to provide guidance and advice. Here's more background. Today in our history of innovation... In 1878, Joseph R. Winters, a black American inventor, received a patent for a fire escape ladder. posted by Ed | Building brainpower with early childhood education Tuesday, May 06, 2003 Economic development is stretching its boundaries. One of the major new areas involves early childhood education. In a global economy that runs on brainpower, early childhood development is increasingly important. Learn how some states view early childhood development as a key economic development strategy. Today in the history of innovation... In 1851, John Gorrie received a U.S. patent for his invention of an "Ice-making machine". This was the first U.S. patent issued for a mechanical refrigerator. posted by Ed | Regions are tying together their colleges and universities Monday, May 05, 2003 Innovation in higher education represents a significant emerging regional economic development strategy. In South Florida, the Greater Miami Chamber of Commerce is leading the charge. The chamber has formed the South Florida Consortium for Higher Education, a consortium of eleven large and small colleges and universities. Read more about what the consortium is doing. This initiative is similar to one in Philadelphia. Philadelphia's program is called the Knowledge Industry Partnership and represents a broad coalition of economic development and higher education leaders.The Knowledge Industry Partnership has launched the OneBigCampus initiative, a three-year, $7.8 million effort to stem the Philadelphia region's "brain drain." posted by Ed | Indiana's economic development legislation Here's a good summary of economic development legislation passed by the Indiana legislature. Indiana has created the Venture Capital Fellowship Program to help match the Indiana Future Fund with people having graduate degrees and an interest in venture capital. Fellows would help look for investments in technology companies. Another piece of legislation encourages the Indiana Public Employee Fund and the Teachers Retirement Fund to invest a small portion of their portfolios in Indiana technology companies. At a practical level, the measure could funnel more than $20 million to the companies. Today in our history of innovation... In 1809, the first U.S. patent granted to a woman was issued to Mary Kies for "a new and useful improvement in weaving straw with silk or thread." posted by Ed | Iowa Values Fund still hanging Friday, May 02, 2003 The Iowa legislature adjourned for the year without passing the Iowa Values Fund. While the House passed the legislation, the Senate did not. The Iowa Values plan is an $810 million dollar fund that falls into six main areas. Business development and assistance would receive $330 million dollars to expand or attract new business. Another $50 million would go towards research and development at Iowa universities and colleges. $75 million would go to train workers. $40 million dollars would support regions that come together to work on an economic development plan. Quality of life initiatives would receive $65 million dollars. Finally, $250 million dollars would go towards improvements of school infrastructure in small communities. Learn more. posted by Ed | Michigan expands virtual high school EDPros, especially in rural areas, should become familiar with the opportunities distance education. Some innovative states are investing in this distance learning infrastructure in order to upgrade their schools. Through distance education, for example, rural high schools can offer Advanced Placement (AP) courses that they otherwise could not afford. Michigan has launched a virtual high school as an offshoot of its virtual university. The virtual high school is now offering ten AP courses, eight foreign language courses and two general study courses. Michigan Virtual University (MVU) is a private, non-profit corporation established in 1998 by Michigan's governor and the Michigan Economic Development Corp. to provide online learning opportunities to Michigan's citizens. MVU does not grant degrees or certificates or teach courses, but acts as a broker of programs made available by Michigan's public and private colleges, universities, and commercial training providers. MVU is the parent organization of the Michigan Virtual High School. Visit the Michigan Virtual University. posted by Ed | Web Watch: Arizona Supply Chain Development Arizona is set to roll-out a statewide program to boost connections among Arizona businesses by building in-state supply chains. Using an on-line database, the program encourages Arizona firms to buy from other Arizona firms. Read more or visit the web site. Today in our history of innovation... In 1775, Benjamin Franklin completed the first scientific study of the Gulf Stream. His observations began in 1769 when as deputy postmaster of the British Colonies he found ships took two weeks longer to bring mail from England than was required in the opposite direction. Thus, Franklin became the first to chart the Gulf Stream. posted by Ed | Building education and research anchors in Charleston Thursday, May 01, 2003 I'm attending a technology conference in Charleston, South Carolina that is reviewing the state's progress in building an innovation-based economy. And the progress is impressive. Despite many fits and starts, South Carolina is moving ahead with some major policies to build a technology infrastructure. In addition to investments in life sciences, the state is consdiering new venture capital legislation and some significant reforms to build its research universities: Clemson, the University of South Carolina, and the Medical University of South Carolina. I'm particularly impressed with the Marine Environmental Health Research Laboratory (MEHRL). It represents a new model for collaborative research among research universities. MEHRL is a shared facility in which researchers are "co-located". So, for example, when you walk into a lab, the researchers might be from Clemson, USC, or somewhere else. These new models are important, because in the era of tight budgets, not every community can have comprehensive research universities. So, as an alternative, you have to be innovative to get the educational and research anchors you need. Today in the history of innovation... In 1895, an electric engine for passenger trains began regular service on the Baltimore and Ohio railroad in Maryland...In 1909, the first of five generating units started operation in the power plant at the Minidoka Dam on the Snake River in Idaho. This was the first hydroelectric power plant to be built by the U.S. government. posted by Ed | |
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