• Join your peers at SSTI's 2024 Annual Conference!

    Join us December 10-12 in Arizona to connect with and learn from your peers working around the country to strengthen their regional innovation economies. Visit ssticonference.org for more information and to register today.

  • Become an SSTI Member

    As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies.  Learn more about membership...

  • Subscribe to the SSTI Weekly Digest

    Each week, the SSTI Weekly Digest delivers the latest breaking news and expert analysis of critical issues affecting the tech-based economic development community. Subscribe today!

Research Park News

April 26, 2004

Alexandria, La.

An Alexandria native is looking to give his city its first research park, according to the Daily Town Talk. Originally proposed in November 2002, developer Jeff Richardson's plan would combine city resources as well as those of Louisiana State University and Southern University. The plan's first phase would cost $1.1 million annually, employing 15 workers, as part of a U.S. Navy project. The second phase would average about $1.5 million annually and add 10-12 positions.

Farmingdale, N.Y.

Following several years of anticipation, supporters of the Broad Hollow Bioscience Park expansion at Farmingdale State University can finally breathe a sigh of relief. The park will add a second building to its campus, starting this August, with the $17.2 million it received from the State University Construction Fund earlier this month, Newsday recently reported. Approval for financing of the 50,000-square-foot addition was in the works since the first building opened in 2000. Of the 20 acres available, only six are presently used by the park. A third building that would act as an accelerator for companies may be in future plans, supporters say.

Jacksonville, Fla.

A Jacksonville research park that ultimately was unsuccessful in attracting high-tech companies was purchased by the University of North Florida for $14 million, a sale pending on state approval, the Florida Times-Union reported last month. The First Coast Technology Park's 248 acres were first donated to the city's Research and Development Authority in 1987; however, the park only attracted the likes of a call center, a construction company, a security services facility and other non-high-tech companies.

The authority, which had been charged with overseeing the park, was not not certain about new use of the land at the time the Florida Times-Union story was published. A Jacksonville economic development official had indicated that research and development activities remained important to the city. Another official had said land situated near the university could serve as possible grounds for a research park elsewhere.

Madison, Wis.

To lure high-tech jobs to the city, the Madison City Council has approved plans to build a second university research park, the Capital Times recently reported. City council members stated during their April 20 meeting that the park would generate money from property taxes. The park and new housing also approved by the council would be located on property west of the Beltline and south of Mineral Point Road.

Memphis, Tenn.

If approved by the state's General Assembly, $10 million included in Gov. Phil Bredesen's new budget will go toward the University of Tennessee Baptist Research Park, according to the Commercial Appeal. The Memphis-based newspaper stated the funding, combined with funds from other sources, would be used to demolish an old hospital to free land for the proposed $300 million to $350 million research park. With the $10 million obligation to the Memphis Biotech Foundation, city council members approved a three-year commitment of $5 million required for the state funding. Demolition would begin within the first half of 2004 and continue for 12-18 months.