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A New STATE OF BUSINESS

A New STATE OF BUSINESS. Centers of Excellence Program The Vision. Presenter: Linda Butts Sr. Advisor to the Commissioner ND Department of Commerce. A New STATE OF BUSINESS. What’s the point of state economic development efforts?. Goal: To increase wealth for North Dakota people.

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A New STATE OF BUSINESS

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  1. A New STATE OF BUSINESS Centers of Excellence Program The Vision Presenter: Linda Butts Sr. Advisor to the Commissioner ND Department of Commerce A New STATE OF BUSINESS

  2. What’s the point of state economic development efforts? Goal: To increase wealth for North Dakota people. How do we do that? Good paying jobs through innovative processes and outcomes. Governor Hoeven is committed to measuring success of state e.d efforts not just by counting jobs but by measuring people’s wealth/wages/income. A New STATE OF BUSINESS

  3. Today’s Competitive Landscape Globalization is forcing us and everyone around the world to find new competitive niches in rapidly changing markets. Presents opportunities those who are nimble, like ND A New STATE OF BUSINESS

  4. Economic Development Strategies are changing 20th Century Model- Recruit 21st Century Model- Stoking innovation and fostering entrepreneurs that exploit the regions assets. • The capacity to innovate and to grow entrepreneurs increasingly separates regions that can keep pace from those that can not. • Regional strategies are increasingly being shaped by regions assets like scholarly research. A New STATE OF BUSINESS

  5. Stoking Innovation • If innovation is the “fuel” for reinventing our economy, higher education is a primary source for the fuel. • Many states are developing new incentives to unleash the enormous resources housed within higher education. • Centers of Excellence: ND’s answer to stimulating innovation and regional economic growth. A New STATE OF BUSINESS

  6. Centers of Excellence Program What is a Center of Excellence (COE) for Economic Development? A hub of research and development around which related businesses expand and dynamic new businesses cluster. Vision: Centers of Excellence will help stimulate innovation in North Dakota’s target industries and create new industry niches. A New STATE OF BUSINESS

  7. Overall Concept A Vision essential to North Dakota’s future: • Connects potential of colleges and universities across the state with private industry to generate higher paying, skilled jobs, and career opportunities for the future. • Will create and attract new businesses, and foster the expansion of existing businesses. • Create centers that nurture our best and brightest minds to commercialize ideas into products, skills, and services. A New STATE OF BUSINESS

  8. 11 Centers Approved for Funds • North Dakota’s research institutions are a unique asset we must maximize for growth. • Legislature has provided for $50 million that will be leveraged to generate at least $150 million in total funding resources. $20 million during the 2005-07 biennium and legislative intent for $30 million in future biennia. • Eleven Centers of Excellence across the state have been approved for funding. A New STATE OF BUSINESS

  9. Centers of Excellence Projects: • Bismarck State College – National Energy Center of Excellence • NDSU – Center for Advanced Electronics Design and Manufacturing • UND Energy and Environmental Research Center – National Center for Hydrogen Technology • Lake Region State College – Dakota Center for Technology Optimized Research • North Dakota State University – Center for Agbiotechnology: Oilseed Development • North Dakota State University – Center in Surface Protection A New STATE OF BUSINESS

  10. Centers of Excellence Projects • University of North Dakota Research Foundation – Center of Excellence in Life Sciences and Advanced Technologies • University of North Dakota – Center of Excellence for UAV and Simulation Applications • Valley City State University - Institute for Customized Business Solutions • Williston State College - Petroleum Safety and Technology Center • Dickinson State University – Center for Entrepreneurship and Rural Revitalization – Institute for Technology and Business A New STATE OF BUSINESS

  11. Bottom Line: Grow Jobs, Increase Wealth The 11 approved Centers of Excellence Projects project the creation of nearly 5,000 new jobs by 2010. A New STATE OF BUSINESS

  12. Examples NDSU Advanced Electronics Design and Mnfg. • AmeriPride increase of $3.6 million in product sales & 15 new high tech jobs plus 25 additional production jobs • Clinical Supplies Management increase of up to $1 million in sales & 7 to 10 new jobs • Pedigree Technologies potential for an additional $25-50 million in sales realized within 5-7 years with possible 400 new jobs. BSC National Energy Center of Excellence • 3350 new construction jobs and 973 new technician jobs will be created as a result of new plants being constructed. A New STATE OF BUSINESS

  13. Monitoring the Program • Department of Commerce set up a 10-year review program that calls for annual functional reviews of each center based on 12 specific criteria. • The goal is for Commerce to work with the Universities to measure success and ensure the transparency that is necessary for ongoing legislative support. A New STATE OF BUSINESS

  14. Key Issues for Legislative Support • 2-1 match of private to public dollars • In-kind support: Is it legitimate? • Sustainability of project: Can the facilities ultimately support themselves without public dollars? • Creating private sector jobs • Measurable benefits to the community and economy • Was the project possible without state COE funding? • Tracking- is there accountability in the existing grants A New STATE OF BUSINESS

  15. Growing ND from Within Our growth will come from cultivating the resources we have: • Technology Based businesses and Advanced Manufacturing: helping existing companies grow and remain competitive • Energy and Agriculture – unique time in ND history where the “marriage” of two of our most abundant assets have global significance • Tourism, state’s 2nd largest industry: Legendary campaign emphasizing historical attractions, badlands, outdoors, cities/cultural attractions • Research Institutions – Centers of Excellence A New STATE OF BUSINESS

  16. R&D is Vital Your work is vital! Commerce looks forward to working closely with you to help build partnerships between you and private sector business people who need your research capacity Ultimately, it’s a win-win for everyone, and it’s what ND needs to ensure a bright future! A New STATE OF BUSINESS

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