Business Facilities - March 2009 - (Page 14)

COVER STORY Deciphering High Tech’s Hype In late February, Texas Secretary of State Phil Wilson announced the TETF would invest $150,000 in TXL Group, Inc., of El Paso. Up to $1 million in total investment may be available to the company if it meets certain performance benchmarks. The decision marks the first pre-seed funding awarded by the TETF and will assist TXL in its development of new technology to harvest roadway heat and convert it into energy. “As a state known for triple-digit summer temperatures and home to the most state highway miles in the country, this is an exciting project for Texas,” says Wilson. “The TXL Group has shown innovative leadership in addressing the future energy needs of our state and is a good example of a company turning challenges into opportunities through creative technology.” THE MICROCHIP MEGASTATE While technology’s fearsome foursome of California, Florida, Texas and New York, in addition to Massachusetts’ major tech community, which continues to grow in and around Boston, AeA announced last year the need to reach beyond these traditional tech centers. “Legislation affects this industry in a lot of places you wouldn’t expect,” said AeA CEO Christopher Hansen. Perhaps the last place the voluminous high-tech industry would think University of Rhode Island’s new BioTech center Midwest Corporate Campus MidwestCorporateCampus.com #2528 at www.BusinessFacilities.com 14 MARCH 2009 PHOTO CREDIT: URI 1 800 527 2553 to consider is the smallest state, Rhode Island. But when dealing with microchips and nanotechnology, perhaps size doesn’t matter. Rhode Island actively is positioning itself as an emerging hub for high technology by touting Providence’s affordability and enviable location between New York City and Boston, as well as new tax incentives. “This is central to our economic development strategy. We’re trying to create an innovation economy,” said Saul Kaplan, executive director of the Rhode Island Economic Development Corporation in February. “The whole state is 1,000 square miles with one million people in it and we all know each other; in an innovation economy, that’s a huge advantage. Connecting the dots across sectors and silos is what innovation is all about, and we have the perfect realworld test bed.” In 2008, Rhode Island offered an innovation tax credit of up to $100,000 for high-tech companies and entrepreneurs. This new incentive complements the Slater Technology Fund, which awards $3 million in state grants annually. And in January, the Ocean State launched www.rinexus.com, a Web community that empowers techies to post http://www.businessfacilities.com http://www.MidwestCorporateCampus.com http://www.rinexus.com http://www.MidwestCorporateCampus.com http://www.BusinessFacilities.com

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Business Facilities - March 2009 Contents First Word Snapshots Corporate Moves: Tennessee Deciphering High-Tech Hubs Industry Focus: Biotech/Pharmaceuticals The Lone Star State Continues to Burn Brightly Pennsylvania is Holding Its Own Corporate Moves: Florida Metro Spotlight: Findlay, OH Advertiser Index Ask the Expert

Business Facilities - March 2009

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