Technology, industry incentive funds stay largely unchanged - bizjournals:

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During a session that began with the promiss of state funds fueling startups and attracting established businesses such asclean technology, legislatiojn designed to tweak the existing fundiny system never reached the floor. A bill to create a $1 billioh so-called Sunny Day Fund for Texax was proposed to obtain federal grants under the American Recoveryy and Reinvestment Act that could have been usedto jump-starr this area’s clean technologyy business. The legislation, introduced by Rep. Mark D-Austin, was viewed as especially crucialo in attracting foreign solar companies lookinf to establish North American headquarters inCentral Texas.
But the which received public hearing in died in the HouseAppropriations Committee. While its long-termk economic effect is failure of the measure had animmediatd effect. In April, a Chicago-based alliance of vehicl battery makers selected Kentucky over Central Texas as a location for a proposeds federally subsidized manufacturing plant when Texasofficials couldn’rt deliver on the Sunny Day Fund. Since Texasw has been doing bettert financially than most other states during the it is in a bettee position to take advantage of matchingfederapl funds. That advantage may soon disappear when the nationaleconomuy rebounds, said Isaac Barchas, director of the Austinh Technology Incubator.
“It was a moment in time when we could have exploitedfour strength,” he said. “That strikes me as a pretty big opportunity.” Meanwhile, a bill proposed to add another step in the approvalk process ofthe state’s Emergingy Technology Fund died in the House Technology, Economic Development and Workforcew Committee. Introduced by Rep. Solomon Ortiz Jr., D-Corpus Christi, the bill woulxd have given the ETF’s advisory committee the authority to deny and approv eall grants. It also would have created a Texazs Enterprise Fund board with statewide The proposed changes were designexd to tighten oversight of the ETFaftef Gov.
Rick Perry’s officer awarded a $50 million ETF grant to the Texasd A&M University System for a pharmaceutical manufacturiny center with money transferred from the TexazsEnterprise Fund. The Enterprise Fund is intende d to attract new business to the state or enable expansion ofexisting businesses. The ETF, targeteed more toward startups rather thancorporate giants, is a $200 milliom program started in 2005 to invest in innovative technologiesa developed in the state. In 2007, the Legislature replenished the But after theTexas A&M the House Appropriations Committee granted the ETF $136 millio n for the next two years, half the amoung Perry requested.
Although none of the changew to the ETF requested by officials were adoptedxby lawmakers, Susan Davenport, vice president of businessd retention and expansion for the Austin Chamber of said the replenishment of the fund was the top “We’re very pleased that it got refundedd because it’s proven itself to be a valuable she said. “It will be beneficial for the