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Technology-based state growth policies: the case of North Carolina’s Green Business Fund

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  • Michael Hall

  • Albert Link

Abstract

US technology-based initiatives at the state level continue to emphasize regional economic development and job growth. Many are now also focused on green technologies. This paper describes one such green program, the North Carolina Green Business Fund. Based on an analysis of 24 funded R&D projects in 2008 and 2009, we find that 59 new full-time equivalent jobs were created in the short run through this program. We also find that those organizations that can attract greater additional financial support for their research generate more jobs. Lastly, we find that university involvement in these projects tempers job losses among projects discontinued early as well as job growth among those that commercialized their technologies. We cautiously offer, because of limited data, recommendations to states with similar programs to create structures to advise technology-based research organizations about sources of additional financial resources. Copyright Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Michael Hall & Albert Link, 2015. "Technology-based state growth policies: the case of North Carolina’s Green Business Fund," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 54(2), pages 437-449, March.
    • Handle: RePEc:spr:anresc:v:54:y:2015:i:2:p:437-449
    DOI: 10.1007/s00168-015-0661-5
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    References listed on IDEAS

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    Cited by:

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    Keywords

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    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue

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