Gov. Terry Branstad's reforms of the state's economic development and education programs both include creation of "innovation funds" in which private dollars support public proposals.
"Innovation" is a buzzword in the Branstad administration, heard almost as frequently as the phrase "predictability and sustainability," and both funds are a good representation of the administration's desire to bring the expertise and capital of the private market into the public realm.
But they face increased legislative scrutiny now that the governor has called for tweaks to the tax benefits offered to private investors in one program and made the creation of the other part of the massive education reform plan.
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