Delaware Should Invest its Stimulus in Technology
April 13, 2009

By John Carney

The economic news gets bleaker every day, and translates into the loss of trillions of dollars of wealth, along with jobs and homes, for ordinary Americans. We find ourselves in the worst economic situation America has faced since the Great Depression. These are the times that test the underlying strength of a nation, the quality of her leadership and the character of her people.

Americans – and Delawareans in particular – have always been optimists. Those who came before us met the test of character, weathering the economic storm of the Great Depression, delivering the world from Nazism and Fascism, and then taking on Communism in the Cold War. They earned their claim to the title, “the Greatest Generation.”

Our generation must now meet its own challenges. We have difficult, painful decisions to make. But we also have an opportunity to chart a new economic path for our country and our state, one that will leave us much better prepared to compete in the global economy that will emerge when this crisis passes.

And it will pass. The real question is will we be ready when it does? Will we make smart investments in technologies that will strengthen the economy in the long term while creating jobs in the short term? Will we summon our best thinking and entrepreneurial spirit to make it happen?

We faced challenges, such as the erosion of America’s industrial base, even before the recent economic collapse. Now, we must respond with greater focus and energy. We must invest in new technology that will strengthen our position in an economy based increasingly in science and technology.

There are great opportunities as the country attempts to create a new energy future in clean, renewable technologies. Delaware is positioned well to be a leader, especially with the approval last year of the first-in-the-nation offshore wind farm. In fact, the company that I am now working for, Transformative Technologies, would like to create jobs in Delaware by developing offshore wind tower manufacturing here. The state Science and Technology Council, which I am privileged to chair, has been leading efforts to build research capacity at the University of Delaware, Delaware State University, Delaware Tech and Wesley College. Our plan focuses on opportunities in human health, biotechnology, agriculture, material science nanotechnology and environmental science. Already progress has been made over the past 10 years at the Delaware Biotechnology Institute at the University of Delaware. Dr. David Weir, the original Director of the Institute, now leads the University's new Office of Economic Innovation and Partnership, which focuses on intellectual property development and commercialization. The state’s investment in DBI has paid dividends with the creation of hundreds of jobs and the receipt of millions of NIH and NSF research dollars.

The federal stimulus package recently signed by President Obama – the American Recovery and Reinvestment Act - offers a great opportunity for Delaware to strengthen its position in the emerging economy, but only if used in a targeted way. Millions of dollars are available for clean energy technology, for electronic medical records, and for other new technology investments. It is critical that these stimulus dollars be invested in technology that will create jobs in the short term and secure a stronger position for Delaware in the long term, for the emerging economy of the 21st Century.

But investment in technology alone is not enough. We in Delaware must also redouble our efforts to improve education and training for the workforce of the future. Education reform has been underway in Delaware for as long as I’ve been involved in public service. Again, now is the time to focus with greater energy not on the debates but on the results.

Educational improvement in every Delaware school for every Delaware student has to be the highest priority. It can’t just be talk. It’s time for action and real change and that change has to take place in every single classroom. We cannot compete in a global economy if we don’t significantly improve our high school graduation rate, give our children the tools to earn a college degree, and close the achievement gaps that exist by making sure every Delaware child has access to a quality education.

Education, innovation, adapting to – indeed, leading – change: these are the cornerstones of the American response to challenging times. It is hard to see past the storm, especially for those who have been hurt the most. But if we keep our eyes on that emerging 21st Century economic horizon, and if we keep our minds and efforts focused on the common good, we can emerge stronger, smarter and better prepared for whatever challenges, and opportunities, lie ahead.

John Carney, former Lt. Governor of Delaware, is President and Chief Operating Officer of Transformative Technologies.