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Technology-Based Growth Policies: The Case of North Carolina’s Green Business Fund

Author

Listed:
  • Michael Hall

    (University of North Carolina at Greensboro, Department of Economics)

  • Albert Link

    (University of North Carolina at Greensboro, Department of Economics)

Abstract

U.S. 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.

Suggested Citation

  • Michael Hall & Albert Link, 2015. "Technology-Based Growth Policies: The Case of North Carolina’s Green Business Fund," UNCG Economics Working Papers 15-1, University of North Carolina at Greensboro, Department of Economics.
    • Handle: RePEc:ris:uncgec:2015_001
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    References listed on IDEAS

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    1. G. M.P. Swann, 2009. "The Economics of Innovation," Books, Edward Elgar Publishing, number 13211.
    2. Albert N. Link & John T. Scott, 2013. "Employment growth from the Small Business Innovation Research program," Chapters, in: Public Support of Innovation in Entrepreneurial Firms, chapter 4, pages 65-88, Edward Elgar Publishing.
    3. Albert N. Link & Christopher J. Ruhm, 2013. "Bringing science to market:commercializing from NIH SBIR awards," Chapters, in: Public Support of Innovation in Entrepreneurial Firms, chapter 1, pages 3-24, Edward Elgar Publishing.
    4. Leyden, Dennis Patrick & Link, Albert N., 2015. "Public Sector Entrepreneurship: U.S. Technology and Innovation Policy," OUP Catalogue, Oxford University Press, number 9780199313853.
    5. Hall, Bronwyn H & Link, Albert N & Scott, John T, 2001. "Barriers Inhibiting Industry from Partnering with Universities: Evidence from the Advanced Technology Program," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 87-98, January.
    6. Albert N. Link & John T. Scott, 2013. "Employment growth from public support of innovation in small firms," Chapters, in: Public Support of Innovation in Entrepreneurial Firms, chapter 3, pages 41-64, Edward Elgar Publishing.
    7. K. J. Arrow, 1971. "The Economic Implications of Learning by Doing," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 11, pages 131-149, Palgrave Macmillan.
    8. Yi, Hongtao, 2013. "Clean energy policies and green jobs: An evaluation of green jobs in U.S. metropolitan areas," Energy Policy, Elsevier, vol. 56(C), pages 644-652.
    9. Albert N. Link & John T. Scott, 2013. "Public R&D subsidies, outside private support, and employment growth," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 22(6), pages 537-550, September.
    10. Evans, David S, 1987. "The Relationship between Firm Growth, Size, and Age: Estimates for 100 Manufacturing Industries," Journal of Industrial Economics, Wiley Blackwell, vol. 35(4), pages 567-581, June.
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    Cited by:

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    3. Daniel Smith & Maryann Feldman & Gary Anderson, 2018. "The longer term effects of federal subsidies on firm survival: evidence from the advanced technology program," The Journal of Technology Transfer, Springer, vol. 43(3), pages 593-614, June.

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    Keywords

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    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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