Policy Bank

In our search to find the best-fit policies for our target states, we came across dozens of national and global best practice policies, innovative ideas, and program models. This policy bank aggregates many of those strategies for public access so stakeholders can learn more about the ways that citizens, businesses, and law makers can help to foster good-paying jobs in the advanced energy economy. 

Right now, you're looking at 13 policies related to all states, all technologies and Innovation Ecosystem. Clear all filters

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Local Defense Production Zones allow towns, cities, and counties the authority to establish, design, and administer a unique defense zone ordinance to attract defense-related businesses. Incentives for companies include reduced permit fees, reduced gross receipts tax, and permit process reform and can last up to 20 years—a major competitive advantage for companies looking to expand in a state. Localities could use defense zones to provide incentives to CFRP composite manufacturers.   Nearly 10 percent of CFRP composite revenues come from defense. Key defense assets, such as the F-22 and F-35... (learn more)
Over the past four years, twenty-six states and the District of Columbia have enacted intrastate securities exemptions that allow equity crowdfunding from non-accredited investors.These exemptions align with updates to the federal exemption for equity crowdfunding under Title III of the JOBS Act. Establishing this exemption would open up a new pool of investors within states that could invest in local startups. Intrastate exemption rules allow states to set limits on equity offerings from companies and maximum investments by non-accredited investors. These limits often exceed federal rules, giving states the ability to... (learn more)
States lacking venture capital investment in new companies could create an Equity Crowdfunding Hub. Online equity crowdfunding hubs allow entrepreneurs to advertise their business ideas and gather small investments from many investors. By creating a single location for investors across the world to find new businesses, equity crowdfunding hubs can dramatically improve access to capital. Several states and universities have set up crowdfunding hubs, including Wisconsin’s CraftFund where Wisconsin investors can browse specialized companies seeking investors, and Penn State’s Crowdfunding. States could allocate funds to the office of economic development to coordinate a... (learn more)
States that lack support for companies entering the commercialization stage can create a matching fund for businesses that are awarded funding by the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. This support could be coupled with increased commercialization planning assistance. The fund could be targeted at federal award grantees that align with advanced energy technologies. Kentucky has an exemplar matching grant program: awards are given to companies either already located in Kentucky or willing to move at least 51 percent of the company to Kentucky within ninety... (learn more)
Encouraging investments in university-level research is essential for states to promote innovation ecosystems, remain economically competitive, and spur job creation. One way states can stimulate investment in university research is by creating a university R&D tax credit. Arizona’s  tax credit incentivizes businesses to invest in local R&D activities through a nonrefundable income tax credit. From 2011 to 2017, the R&D tax credit is equivalent to 24 percent of the first $2.5 million of investments plus 15 percent of additional investments over $2.5 million. After 2018, the tax credit rates will drop... (learn more)
Many states have numerous foundations that could be enlisted to help create a robust innovation ecosystem and expand access to capital. Every year, foundations award billions of dollars in grants, ranging from youth development to emerging energy technologies. In Michigan, the Governor has a Foundation Liaison, a cabinet-level, non-partisan position. The Foundation Liaison works with the governor, state legislators, federal officials, the business community, and foundations to build funding partnerships and strategic collaborations. Since 2003, the foundation community has invested more than $150 million through partnerships brokered by the Foundation... (learn more)
States can foster innovation partnerships to increase investment in advanced energy sectors. For example, Ohio’s Federal Research Network has strengthened the coordination among local research institutions to attract research and development funding. Other states could adapt this model to help spur the innovation ecosystem.Recognizing the importance of coordination within and across sectors, the state of Ohio funded the Ohio Federal Research Network in July 2015. Wright State Applied Research Corporation will receive $20 million over the course of two years and Ohio State University will receive $5 million to establish collaboration... (learn more)
To support entrepreneurial enterprises and grow startups, states can create innovation districts. Innovation districts are geographic areas where anchor institutions and companies cluster, connecting with startups, business incubators, and accelerators. The districts are compact, transit-accessible, and technically wired. These live-work-play districts offer mixed-use housing, office, and retail. Examples of successful innovation districts can be found in Chattanooga and St. Louis; both cities created collaborative advisory boards. Key to their success was a group of leaders from universities, businesses, and government coordinating a centralized plan for growth. Chattanooga, the first mid-sized city to form... (learn more)
Small businesses often lack the tools and resources needed to commercialize innovative products in early stages of development. For small business owners, the inability to access new technologies could prevent them from advancing their business. Moreover, while some small businesses have considered 3D printing, the majority of small- and medium-sized business owners have yet to fully incorporate 3D printing into their supply chain. Some states have encouraged 3D printing adoption by creating an innovation voucher program or establishing grant funds that small businesses can use to pay for equipment and... (learn more)
A hackathon is traditionally an event in which computer programmers, graphic designers and project managers collaborate on software projects that last anywhere from a day to a week. Hackathons now extend beyond solving software issues and are used by institutions to solve social, environmental, and technical issues.States could capitalize on a strong innovation ecosystem—or research and business start-up environment—by instituting an annual advanced energy competition and Hackathon to ignite the in-state markets for advanced energy technology.Governments, businesses, and institutions have used hackathons and competitions to creatively engage citizens to stimulate the... (learn more)
With the pace of innovation moving faster than ever before, slow-moving technology transfer offices can drive away promising researchers, and hinder the ability of campus researchers to bring their ideas to the marketplace. Many universities are revamping their technology transfer offices in order to help technologies developed in-state commercialize as rapidly as possible. To encourage this transition, policymakers could challenge all universities within the state to streamline their technology transfer offices. Providing standardized licensing agreements would allow inventors to bring new technologies to the market as quickly as possible, which... (learn more)
Encouraging investments in early-stage technology startups is essential for states to stay competitive and spur job creation. Many states use a variety of policy tools with this aim in mind, but a policy that has seen significant success is a Technology Investment Tax Credit. A properly designed incentive tax credit can influence investment decisions and boost demand for investments in early-stage technology companies.In 1996, Ohio pioneered a Technology Investment Tax Credit, a temporary tax credit with a $30 million cap. The program was so popular that  venture capitalists are now... (learn more)
University business incubators are an important resource for entrepreneurs and researchers. Business incubator programs often provide a variety of resources, guidance, and robust networking opportunities that are critical to launching innovative startups. GeorgiaTech has a particularly strong business incubator program. The university is home to the Advanced Technology Development Center—the oldest incubator in the United States—and VentureLab, which launched in 2001 and serves only university faculty, staff, and students. In Texas, Rice University’s Alliance for Technology and Entrepreneurship has a strong positive economic impact on the state. Since its inception... (learn more)