8. *Tennessee TBED budget represents one time funding allocation of $5M expended over two fiscal years for program demonstration. ^New Economy Ranking by the Kauffman Foundation and Information Technology and Innovation Foundation (2007) Innovation-Based Economic Development Funding Comparison Georgia Kansas Kentucky Maryland Tennessee Population (2006 Est.) 9,363,941 2,764,075 4,206,074 5,615,727 6,038,803 GSP (2006 Est.) $331B $95B $126B $220B $207B State Budget (FY07 Est.) $18.6B $6.5B $9.3B $20.2B $13.9B TBED Annual Budget $19M $11.37M $8.5M $5.9M $2.5M* Historical TBED funding $450M $220M $34M $42M $8.0M New Economy Ranking^ Overall 18 34 45 3 36 Knowledge Jobs 20 28 45 4 43 Globalization 14 42 10 30 19 Economic Dynamism 17 45 49 2 20 The Digital Economy 13 21 45 11 38 Innovation Capacity 26 27 47 3 41
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10. *Academic R&D only – does not include organizations like ORNL, St. Jude, AEDC . Comparison of Academic R&D to Venture Capital Investment State University R&D per capita* % of U.S. average Venture Capital per capita % of U.S. average Alabama 130.06 82.10% 10.11 10.00% Florida 83.70 52.90% 32.00 31.60% Georgia 136.47 86.20% 49.07 48.50% Kentucky 113.00 71.40% 32.39 32.00% Mississippi 126.47 79.90% 3.43 3.40% North Carolina 188.77 119.20% 65.80 65.10% South Carolina 118.89 75.10% 19.31 19.10% Tennessee 120.67 76.20% 20.47 20.20% Total Southeast $122.58 77.40% $34.39 34.00% California 177.64 112.20% 399.14 394.60% Massachusetts 334.70 211.40% 560.02 553.70% Total U.S. $158.35 100.00% $101.15 100.00%
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