Fresh from passing a landmark angel investor tax credit, Minnesota lawmakers are advancing a bill that would, in time, radically alter high-tech economic development in the state by concentrating authority in a single public-private entity.The proposed Minnesota Science and Technology Authority, modeled after programs like Third Frontier in Ohio and The Ben Franklin Technology Partners [...]

It’s always a tough act to follow Howard Root, the sometimes volatile, always interesting CEO of Vascular Solutions Inc. But when you’re one of a gazillion candidates running for the governor of Minnesota, the challenge becomes even more daunting.Which makes me wonder why organizers of the first annual Minnesota BIO forum, including LifeScience Alley, Minnesota [...]

Forget the elk. Bring on the horses!The proposed Elk Run BioBusiness Park in Pine Island may get millions of dollars in state money from an unlikely source: Cantebury Park in Scott County, one of the two state’s two horse racing tracks.Under a proposal pitched by Racino Now, a group led by former Republican State Senator [...]

Aside from sharing the same first letter, “mojo” and “Minnesota” are words that don’t seem to carry a lot in common, though that may soon change. The state is home to 19 Fortune 500 companies, a world-class hospital and research center in Rochester and SPAM–what else do you need? But the land of 10,000 lakes [...]

Minnesota Gov. Tim Pawlenty and the state’s top research university are not exactly close allies.At The Collaborative’s annual venture capital conference last year, Pawlenty criticized the University of Minnesota for being unfriendly to business just minutes before university spin-outs were to pitch investors. University sources say Dan McElroy, commissioner for the Department of Employment and [...]

Seagate Technology giveth (sort of). Seagate Technologies taketh (definitely).Bolstered by better than expected revenue, the disc driver maker has reversed plans to convert a state-of-the-art nanotech facility in Edina into the Minnesota Center of Excellence in Nanotechnology.Seagate, based in Scotts Valley, California, has major operations in the Twin Cities.The company originally planned to use the [...]

Rep. Ann Lenczewski’s opposition to angel credits flies in the face of evidence, experts, and the collective political and business will of Minnesota.

Last week, Rep. Ann Lenczewski and House Speaker Margaret Kelliher held a press conference to tout a jobs creation bill. First item on the 26-page bill: a three year, $9 million tax credit to investors and funds with a heavy focus on “green” companies. To receive the credit, regional investment funds must devote 50 percent of its money toward “qualifying green job small businesses.”