• 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!

University Initiatives Benefit from North Carolina Surplus

July 16, 2008
  • Forward logo
  • LinkedIn logo

North Carolina legislators approved last week the fiscal year 2008-09 budget adjustment, providing additional funds for several TBED initiatives within the higher education system. Earlier this year, Gov. Mike Easley unveiled recommendations to use surplus funds to expand university projects aimed at supporting TBED (see the May 14, 2008 issue of the Digest).
 
Additional operating funds within the University of North Carolina (UNC) System appropriated in the budget agreement include:

  • $3 million for the new Joint Graduate School of Nanoscience and Nanoengineering at North Carolina A&T and UNC-Greensboro Millennium Campus;
  • $2 million for the bioengineering program at the North Carolina State University College of Engineering; and,
  • $1.5 million to fund new tuition waivers aimed at recruiting and retaining top tier graduate students in mathematics and science.

The approved budget also provides additional funds to continue university programs initiated over the last two fiscal years, including $3 million for the Faculty Recruiting and Retention Fund and $1 million for the Research Competitiveness Fund. The latter invests in research projects critical to the economic competitiveness of the state, such as biofuels and nanotechnology.
 
Within the K-12 system, lawmakers approved $1.5 million in additional funds for the North Carolina 1:1 Learning Project, a pilot program in eight high schools that provides laptop computers for teachers and students. The project received a nonrecurring appropriation of $3 million last fiscal year. The approved budget also provides $10 million ($4 million above the governor’s recommendation) to implement broadband in the public school system.
 
Funding for initiatives aimed at building a nationally ranked bioengineering program – a major priority of the administration – is also prominent in the budget agreement. The North Carolina Biotechnology Center will receive $4 million in FY 2008-09, including $2.5 million for building expansion and $1.5 million to expand the loan program for pre-venture start-up companies. Community colleges will receive $1 million for operating expenses related to community college programs focusing on biotechnology at the North Carolina Research Campus in Kannapolis. These funds are in addition to the $2.3 million in the base budget for this program.
 
Within the Department of Commerce, lawmakers appropriated $3.5 million to provide grants for Small Business Innovation Research and Small Business Technology Transfer assistance ($1.3 million less than last fiscal year). The department also will receive $1 million in additional funds for the NC Green Business Fund, which provides grants to private businesses with fewer than 100 employees to encourage the growth of a green economy in the state. The first 13 awards for the Green Business Fund were announced late last month by Lt. Gov. Bev Perdue.

The FY 2008-09 approved budget is available at: http://www.ncga.state.nc.us/Sessions/2007/Bills/House/PDF/H2436v8.pdf

North Carolina