 Traditionally, state and regional economic development organizations have been driven by tax and other enticing incentives, with a central focus on real estate transactions. But in an increasingly tech-driven, knowledge-based global economy, proximity to technology clusters, R&D centers, industry partners, and universities is giving way to the "emergence of technology-based economic development organizations."
California, a state with one of the nations highest unemployment rates is a good example. According to one blogger, "the State of California Legislature, as part of the 2011 Budget Act, approved the dissolution of the state's 400 plus Redevelopment Agencies. Like California, other states have questioned the effectiveness and use of incentives."
How all of this will play out is yet to be seen. But as the pace of global innovation and new technology development world-wide picks up, where a company locates its next business facility will be driven less by real-estate and incentive considerations, and more by access to knowledge workers, university science and technology centers, industry clusters and "building relationships among cluster members for funding, research, and business opportunities."
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Israel is know as the "Startup Nation," a country whose technology and financial links to Silicon Valley are so strong and deeply ingrained that the venture capital term sheets for startups for both countries are almost identical.
During his visit this week with Prime Minister Benjamin Netanyahu in Israel President Obama will get a first hand look at seven leading-edge innovations by Israel's high-tech industries in a special exhibit featuring innovations in five categories: renewable energy, the war on traffic accidents, medicine, search and rescue and robotics. The products were reportedly chosen from among proposals presented by Israel's universities in keeping with their degree of innovation, impact on humanity and presentability.
See: Innovative Israel awaits Obama visit
Meanwhile, in another development:
New York State, Israel announce nanotechnology industry partnership
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The Next Big Thing, some think, will be the era of Big Data, a likelihood that is further reinforced by the emerging, and very global, 'Internet of Things' market. Overnight, a huge new market opportunity for both data-driven software and hardware, up and down the size and value chain in the world of IT, has been identified. How huge? The Next Silicon Valley recently learned that Cisco Systems, the online and networking industry bellwether, is gearing up for what it claims "could be $14 trillion opportunity with the Internet of Things."
"As many as 50 billion devices will be connected to the Internet by 2020, creating a $14.4 trillion business opportunity, said Rob Lloyd, president of sales and development at Cisco, speaking at a recent press event. The trend will create business opportunities initially in manufacturing, government, energy and health care that extend far beyond today's budgets for computer and communication systems, he said."
See: BIG DATA. Who, What's Behind IT?
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 Metro Detroit is fast becoming one of the nation's top tech centers, according to a new report. The information comes from a report commissioned by Automation Alley, a local tech business association, which was revealed Tuesday at a presentation to industry professionals at its Troy headquarters.
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 Dave McClure, founder of business incubator 500 Startups is said to be "actively investing all over the world, with a few venture partners investing in Brazil, Mexico and India."
According to a recent interview with McClure, 500 Startups spreads its influence around the world working with local venture partners in each new region. For example for Mexico, 500 Startups acquired Mexican VC last August to help them keep an eye on investments in Mexico. Then in October, 500 Startups welcomed New York based Shai Goldman as well as India based Pankaj Jain to the 500 Startups family. Both Shai and Pankaj are now helping 500 Startups to invest in companies based in New York and India.
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Experts reveal Smartphone, OS trends for 2013: Video
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