Idaho Tech Councils Endorse Spending Proposals for Technology Based Economic Development

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

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.

According to an article in The Idaho Statesman, the council’s recommendations include:

* $25 million to update public and private high-tech infrastructure;

* $10 million for a second round of matching grants to private companies extending broadband Internet availability in rural parts of the state;

* $2 million for a Technology Marketing Fund to showcase Idaho’s research accomplishments;

* $300,000 to maintain the states four TechConnect offices, which assist technology entrepreneurs; and,

* $100,000 for the states program to offset the costs of applying for SBIR grants.

Additionally, the tax credit program would provide a 45 percent state tax credit for investing in Idaho bioscience companies and a 35 percent credit if they invest in high-tech firm in other fields. The estimated cost of the program is $50 million.

The council’s recommendations will be considered by Gov. Risch for inclusion in his executive budget request in 2007. The proposals must also be approved for inclusion by the winner of the Idaho governor’s race in November between Republican U.S. Rep. Butch Otter and Democratic businessman Jerry Brady, before being submitted to the state legislature.

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