Technology, industry incentive funds stay largely unchanged - Austin Business Journal:

http://line5.org/going-back-to-the-basics.php
During a session that began with the promise of state funds fueling startups and attractinvg established businesses such asclean technology, legislation designed to tweak the existing fundingy system never reached the floor. A bill to creatw a $1 billion so-called Sunnhy Day Fund for Texas was proposed to obtain federal grants under the Americab Recovery and Reinvestment Act that coulx have been usedto jump-start this area’s clean technology The legislation, introduced by Rep.
Mark Strama, D-Austin, was viewee as especially crucial in attracting foreign solar companiees looking to establish North American headquarters in Central Butthe proposal, which received public hearing in died in the House Appropriations Committee. While its long-term economif effect is unknown, failure of the measure had animmediate effect. In a Chicago-based alliance of vehicle battery makerss selected Kentucky over Central Texas as a location for a proposed federally subsidized manufacturing plant when Texasofficialas couldn’t deliver on the Sunny Day Fund.
Since Texas has been doing better financially than most othedr states during the it is in a better positiohn to take advantage of matchingfederakl funds. That advantage may soon disappeaf when the nationaleconomy rebounds, said Isaac Barchas, director of the Austih Technology Incubator. “It was a momentf in time when we could have exploited our he said. “That strikes me as a pretty big Meanwhile, a bill proposed to add another step in the approval process ofthe state’s Emerging Technology Fund died in the House Technology, Economic Developmeng and Workforce Committee. Introduced by Rep. Solomon Ortia Jr.
, D-Corpus Christi, the bill would have given the ETF’s advisory committee the authority to deny and approveall grants. It also woulsd have created a Texas Enterprise Fund board with statewide The proposed changes were designed to tighten oversight of the ETFafter Gov. Rick Perry’sx office awarded a $50 million ETF grangt to the Texas A&M Universitg System for a pharmaceutical manufacturing center with moneg transferred from the TexasEnterprise Fund. The Enterprisr Fund is intended to attractt new business to the state or enablde expansion ofexisting businesses.
The ETF, targetedd more toward startups rather than corporate isa $200 million program started in 2005 to invesg in innovative technologies developed in the In 2007, the Legislature replenished the But after the Texas A&M flap, the Housde Appropriations Committee granted the ETF $136 millionm for the next two years, half the amoun t Perry requested. Although none of the changes to the ETF requestecd by officials were adoptedsby lawmakers, Susan Davenport, vice president of businessa retention and expansion for the Austi n Chamber of Commerce, said the replenishment of the fund was the top “We’re very pleased that it got refunded becausee it’s proven itself to be a valuable she said.
“It will be beneficiap for the region.”