New high (tech) schools Five giants of the tech world are teaming up to open six new high schools in Chicago. Students at the high schools will stay for six years, and leave with an associates degree in a high tech field.
Jet jobs Michigan Governor Rick Snyder says the state could lose 600 jobs if the Air Force moves its A-10 fighter planes away from the Selfridge Air National Guard base.
Signature move Opponents of Michigan’s emergency manager law say they have enough signatures to put the issue on the ballot, and let voters decide whether the law should stand. Partner station Michigan Radio reports the signatures will be turned in today for certification.
Mine on the mind Wisconsin Governor Scott Walker is hitting the road to help promote a controversial mining bill. The bill would open up a new mine in northern Wisconsin. The bill passed the state Assembly, but it now appears to be headed for a close vote in the Senate.
Right to Work in court Opponents of Indiana’s new Right to Work law will get their day in court. Attempts to overturn Right to Work have failed in other states. But activists say Indiana’s law was passed in a hastily, and it contains provisions not found in other Right to Work laws. Both sides will make their case at a preliminary hearing on Monday.
Drilling down into the numbers A new study says shale gas and oil will add $5 billion to Ohio’s economy over the next two years. The Cleveland Plain Dealer reports the study was commissioned by the Ohio Chamber of Commerce, on behalf of the Ohio Shale coalition. The study predicts the boom in shale drilling will happen about 10 times faster than previous studies predicted.
Three stories making news across the Midwest today:
1. Detroit’s fiscal crisis looms. The amount of time Detroit has to address the city’s looming financial crisis is “relatively short,” Gov. Rick Snyder tells the Detroit Free Press, before he must decide whether to commence a financial review of the city under the state’s controversial emergency manager law. The city could be insolvent as soon as April, according to reports. In response, the city council issued a proposal that was more far-reaching than Mayor Dave Bing’s earlier this week, proposing a 20-percent income tax increase and 2,300 layoffs, among other items. “We are running out of time,” councilman Andre Spivey tells the newspaper.
2. Groupon stock sharply declines. Shares of Chicago-based Groupon are “getting pummeled” for the third consecutive day, reports the Chicago Tribune this afternoon. They are now trading 15 percent below the initial public offering price of $20 on Nov. 4, and down 35 percent since Friday’s closing price of $26.19. Groupon had cautioned investors that trading could be volatile because it offered only a 5.5 percent stake in its IPO.
3. Shale boom could miss Ohio. Shale gas may not create the economic prosperity across Ohio that Gov. John Kasich has touted as a jobs creator, warns a new report. The problem? The gas industry has been too successful. There’s so much natural gas supply across the U.S. that prices are falling. And no one is quite sure how much actually lies beneath the Buckeye State, reports The Plain Dealer. The jobs gain, once predicted to number as many as 200,000, “will happen on some scale,” Andrew Weissman, executive director of Energy Business Watch, tells the newspaper. “But the question is whether it moves quickly or whether it moves slowly so that it only has a modest impact on Ohio’s economy.”
In Chicago, Groupon Inc. has grown its workforce from 37 employees to more than 10,000 in a little more than two years. That’s provided a nice boost to the city’s economy and employment rate.
And that’s just the start of the company’s impact in Chicagoland.
Former Chicago Mayor Richard M. Daley, tells BusinessWeek that Groupon’s high-tech cache has spread throughout the city and awakened aspiring entrepreneurs. “We were never identified as a tech city. … It’s changed the whole image,” he said of Groupon.
The company raised $700 million with its initial public offering last week. Through that, BusinessWeek opines that Groupon’s “success legitimizes Chicago and the Midwest as an incubator for technology companies” and spawned talk of a “Silicon Prairie.”
Continue reading “Will Groupon Place Chicago At The Center Of A Silicon Prairie?”
The U.S. high-tech industry lost 115,800 net jobs in 2010 that represented approximately 2 percent of the overall high-tech workforce, according to the annual Cyberstates report compiled by the TechAmerica Foundation.
With one notable exception, states across the Midwest reflected the national trend.
Illinois lost 6,400 tech jobs, approximately 3 percent of its high-tech workforce. It was the fifth-biggest decline in the U.S. and the state slipped to eighth place in the country in terms of overall technology jobs. Minnesota lost 2,900 jobs, Wisconsin lost 1,900 tech jobs, Ohio 1,400 and Indiana shed 300.
Michigan, on the other hand, trended in an upward direction.
Continue reading “With The Exception of Michigan, Midwestern States Shed High-Tech Jobs in 2010”
“Pittsburgh Mayor Luke Ravenstahl has formed a task force to nurture high-tech businesses, an initiative that grew out of his recent Asia trip and a decision to more forcefully inject himself into a critical economic sector. Mr. Ravenstahl hopes that bringing representatives of education, business and the nonprofit community together will yield a more unified approach to attracting and growing high-tech ventures…”
Continue reading “More on Pittsburgh’s Econ Dev strategy”