What is TBED?
Technology-based economic development (TBED) is the attraction and creation of innovation-based companies and jobs. It includes any and all activities that help make that happen, including:
- Educating and preparing a high-tech workforce
- Offering an attractive business climate
- Providing investment capital
- Promoting research and new technology development
- Supporting entrepreneurs and small businesses
- Turning research and new technology into new products, processes, services and businesses
Why TBED?
- Technology-Based Economic Development (TBED) is an economic imperative in the 21st century
- High-technology provides today’s high-paying jobs
- The state’s involvement is essential for WV’s long-term success, building on programs like the Research Trust Fund, also known as Bucks for Brains, to develop the infrastructure
- The resulting programs and activities will supply economic benefits for all West Virginians through higher wages, higher tax revenues, and new business opportunities