Finance

In an announcement posted on an Office of Administration's procurement website, officials say the new law is forcing them to remove contract award information from public access for privacy reasons.

The grant funding that the Cullman Electric Cooperative needed for its Sprout fiber-optic Internet project was not awarded. The financial setback will mean several communities will not get service by 2023 as originally planned.

Officials with the Department of Labor are defending the state’s newly launched $60 million benefits system saying that fraudulent unemployment insurance claims are the result of “100% identity theft.”

Edmunds GovTech, backed by private equity, is joining forces with a smaller company whose business is focused in the state of New Jersey and revolves around financial and administrative software.

The Inflation Reduction Act of 2022 that was recently signed into law includes incentives to help consumers buy electric vehicles — as long as they meet strict criteria — but that’s not necessarily the ultimate goal.

This week, Gov. Ned Lamont's office released the names of the 19 organizations that will provide training for high demand jobs in fields such as clean energy and information technology.

The legislation complements the federal CHIPS and Science Act that was recently signed by President Joe Biden. The could provide up to $10 billion in tax credits for semiconductor manufacturing projects over a 20-year period.

Roads and water infrastructure top the list of local priorities, but broadband expansion and clean energy projects are proving popular as cities face increased demand for these newer technologies.

U.S. Sen. Sherrod Brown, D- Ohio, who has consistently pushed to move the legislation through the Senate, said the legislation will have a lasting impact on his home state and reduce U.S. reliance on overseas chipmakers.

Duncan Public Utilities Authority trustees have approved the funds to patch the city’s current smart meter system, which officials say is obsolete. A replacement system is set to be installed in 18 months.

The city of Barbourville has been awarded the nonprofit’s 2022 Cybersecurity Grant to help implement additional safety protocols and programs, such as multifactor authentication, advanced threat protection, and endpoint detection and response.

The latest acquisition for OpenGov involves a company whose software helps public agencies with capital planning, infrastructure maintenance and related tasks. The deal reportedly gives OpenGov a $1.25 billion valuation.

Last week the California Fair Political Practices Commission passed a resolution allowing cryptocurrencies to be used as donations for political campaigns. The move reverses its earlier decision to ban digital currencies.

Texas-based Ryan, which sells tax services and software, is beefing up its government business while also making a bigger play for the Canadian market. The deal follows a similar acquisition in late 2021.

As affordable cyber insurance becomes more elusive, experts are reminding governments that insurance is only one piece of the puzzle and urging them to focus first on investing in cyber defenses.

The majority of the federal funds, around $11.2 billion, will go to the Defense Department, while $2.9 billion will go to the Cybersecurity and Infrastructure Security Agency to bolster U.S. cyber defenses.

Industry experts point out several concerns regarding the use of digital currencies for campaign donations. The issues of transparency, market volatility and a lack of regulations are among the key concerns.

Local government agencies like Houston METRO look to make wise use of funding coming from the Infrastructure Investment and Jobs Act to strengthen existing assets while innovating for the future.