Business - Dave Gallagher

POSTED: Sunday, Nov. 30, 2008

New, clean technology will help local economy turn around

New technology has been the way out of many recessions and economic downturns, and this area is well-positioned to do just that.

Earlier this month The 2008 State New Economy Index was released, analyzing which states are most embracing new technology and innovation. Washington ranked second overall, trailing only Massachusetts. In recent years Washington had ranked fourth. The study, put together by The Information Technology & Innovation Foundation, looked at 29 different indicators and Washington ranked in the top five in 10 of them. This state ranked No. 1 in online agriculture, alternative energy use and value-added manufacturing. A link to the report can be found at watechcenter.org.

The fact this state is ranked so highly in alternative energy use hit home for me at a Nov. 21 TAG - Technology Alliance Group -- meeting. Graham Evans, director of Washington Clean Technology Alliance, hit on a variety of topics about the continued need for new, energy-efficient technology and what businesses can do to develop opportunities. What was striking to me was the number of local businesses in attendance, companies that were already moving ahead with interesting ideas, including Andgar Corporation, which is making anaerobic digesters and geo-thermal installations, as well as Whole Energy Fuels Corp., a biodiesel company.

Evans' focus of the presentation was that we're at a point where significant change is need in order to tackle global warming issues and cut energy consumption (thus saving money). What's great is that Washington state is at the point where it can talk about cutting-edge and big-picture technology, whether it's nanophotonics, smart-grid infrastructure, zero-carbon buildings or wind mills on the ocean. It's stuff that not only would make a difference, but also provides state businesses the opportunity to develop this work, creating jobs and adding to our own economy.

One of the best ways for businesses to take advantage of the opportunities in the growing clean-tech industry, according to Evans, is to identify niches. Staying focused and developing that specific segment can make a company a leader in that area, leading to growth and further development.

Staying on track in the clean-tech industry will also foster growth in other industries in the New Economy that The Information Technology & Innovation Foundation refers to in its study. The study noted that in the past, states that were heavily invested in the New Economy tend to see less severe economic slowdowns and play a bigger role in the robust growth when things turned around.

"This next wave of information technology revolution not only will transform states, it will lead to significant new economic opportunities as (information technology) companies seek out new business opportunities to create this new digital world.," the authors of the study noted in its report.

So while the current national state of affairs has many dealing with the economic doldrums, it seems as though Washington state's high ranking in the new economy can get us out of it more quickly, creating new jobs in industries we don't even know about yet.