Research Park RoundUp: An Expanding Role in the Next Economy

Historically viewed as an important contributor to job creation in emerging fields and a revenue generator for cities and states, science and technology parks serve an essential role in driving high-tech economies. A recent article in BusinessWeek predicts that as nations emerge from the global recession, science parks are likely to play an even larger role in the process of ensuring that local economies remain competitive. And with increasing international competition, many established parks are undergoing transformations, adding square footage and distinct features in order to stand out among the crowd.

The article also provides several examples of "high-tech meccas" being constructed across the world with the goal of creating a new type of community. With an investment of ?180 million ($256 million USD), Spain's 22@Barcelona project aims to transform 115 blocks of old industrial areas into an innovation district catering to knowledge-based companies, universities and research institutes. The project is viewed by developers as a compact city where innovative companies co-exist with research, training and tech transfer centers. Facilities also include housing and green spaces. Another example is Singapore's $10 billion mega-development project called One North, which integrates new research complexes and living laboratories for biotechnology, advanced materials, and medical services, according to the article.

On a much smaller scale than the above-mentioned examples, the following overview is a synopsis of select announcements from research parks across the world, including groundbreakings and development plans to support vibrant regional economies based on science, technology and innovation.

University of Tennessee Board of Trustees approved last month the master plan for a 77-acre state-of-the-art research park called Cherokee Farm. The site will house technology and research-oriented centers focusing on renewable energy, supercomputing, materials science, biomedical science, and climate and environmental challenges. Construction is expected to begin in August to accommodate the Joint Institute for Advanced Materials, which will house the Tennessee Solar Institute. Approved last month by the legislature, the Institute is part of the $62 million Volunteer State Solar Initiative (see the July 1, 2009 issue of the Digest).

Planning is underway for a new Virginia Nanotechnology Park following initial approval by Virginia's First Regional Industrial Facility Authority, reports The Roanoke Times. The Authority earmarked $20,000 toward the $20 million facility envisioned as a multi-tenant building for lease to energy, environmental and medical companies using nanotechnology, the article states. The project hinges on funding from state and federal government grants and private institutions.

Additional development space totaling 140,000 sq m recently was approved for technology businesses located at Ansty Park, a 100-acre R&D park in the Coventry and Warwickshire region of England slated to open later this year. Telecommunications leader Ericsson will be the first occupant in the park, housing its new R&D center with up to 850 staff. When complete, the project is expected to create up to 7,000 high-tech jobs.

The City of Whitewater, WI and the Whitewater Community Development Authority reached a location agreement for the new 125-acre Whitewater University Technology Park and agreed to house a planned University of Wisconsin (UW) Innovation Center and acquire additional land for the project. The Technology Park Board is applying for a $3.4 million federal Economic Development Administration grant toward the $10 million technology park, according to a press release. With an estimated cost of $5 million, the UW Innovation Center is designed to foster the development of new businesses based on UW-Whitewater research.

The U.S. Economic Development Administration announced in May a $2 million grant for a proposed technology park in downtown Pensacola, FL, reports the Pensacola News Journal. The money will be used to fund the public infrastructure portion of the project that when complete, will house between 300,000 and 500,000 sq. ft. of technology office space, according to the article. Construction is expected to begin later this year.

A partnership was announced earlier this year to develop an Alternative Energy Industrial Park in Osceola County, Florida to include an R&D campus housing a technology incubator, distribution center, and an academic village and training center. Construction on the 500-acre park is expected to begin in 2012. The Alternative Energy Industrial Park at Destiny is designed to attract companies that are seeking to develop and manufacture new, clean technologies. The park creates a sustainable business model with a self-funding R&D platform for emerging technologies, according to developers.

The nation's first macro green eco-technology park housing University of Iowa graduates will be constructed in Iowa City, according to developer ECO-4 Partners, reports the Des Moines Register. Moss Green Technology Park will be marketed as using cutting-edge green technology, including porous pavement that absorbs rainfall, green sewers made from fiberglass, buildings with green roofs, solar panels, energy efficient lighting and systems for reusing gray-water runoff, according to the article. Construction on the 170-acre park is expected to begin this fall.

Buffalo Township in Butler County, PA will house a new 50-acre business park for technology-based companies, reports the Pittsburgh Post-Gazette. A Carnegie Mellon University business incubator will accompany the business park, providing additional support for entrepreneurs starting high-tech companies. Funding for the $5 million business park is provided through a federal grant and tax-increment financing, the article states.

Expansion to the University Corporate Research Park at Michigan State University (MSU) is underway following a $1.8 million grant from the U.S. Economic Development Administration, reports the Lansing State Journal. The expansion will open the vacant south end of the 115-acre park, which will likely target startup companies based on MSU research as well as new tech companies. Additionally, the new construction will link the park with MBI International, a nonprofit business incubator with lab space for startup companies, according to the article.

Building plans for a new technology park near West Notts College in Mansfield, UK were unveiled earlier this year. When complete, the technology park will house up to 630 workers with an incubation centre providing 34 office units of various sizes, a "hot desking" area, and eight studio/workshops, reports the Nottingham Evening Post. The nine-acre scheme is driven by Sherwood Growth Zone Partnership and is expected to cost $30 million.