'Business accelerator' building to be constructed in Stillwater
BYLINE: Jim Stafford, Business Writer
DATELINE: STILLWATER
STILLWATER - Construction on a 24,000-square-foot "business accelerator" building will begin later this year at the Oklahoma Technology and Research Park in far west Stillwater, officials said Thursday.
The project was approved by the Oklahoma Technology and Research Park board of directors earlier this week, with opening of the multi-tenant building scheduled for spring 2008.
The 160-acre research park is owned in a consortium comprising Oklahoma State University, the city of Stillwater and the Meridian Technology Center.
Research Park board members also voted to name the building the Michael S. Morgan Business Accelerator Building, in recognition of Morgan's long-time support of the research park and his work on funding for the project. Morgan, a Stillwater Democrat, has been a member of the Oklahoma State Senate since 1996.
"The Morgan Accelerator Building will be ready for occupancy in May of 2008, which synchs up ideally with our timeline for development in the Park," said Andrea Kelly, Oklahoma Technology and Research Park board chairwoman. "We have always known that a project of this magnitude would be a long-term endeavor. The results are beginning to show and will only continue from here."
Research park infrastructure development completed between 1998 and 2003 included flood control and site preparation of 132 acres designated for future buildings, two road developments, lighting of roadways, and utility installation for the site.
The Park is home to Nomadics Inc. and the Venture I building, which houses five OSU research laboratories and two private research companies, ERIL Research and Lucas Newman Science and Technologies.
Additional OSU labs are slated to move to Venture I in April.
Occupying a total of 160 acres at the intersection of State Highway 51 and Sangre Road, the research park site is master-planned for 1 million square feet of lab, office and support space for high tech companies, OSU research activities, and supporting amenities.
Tenant companies are eventually expected to employ more than 2,000 people from the Stillwater area. The Park features a cluster, campus-style plan to facilitate interaction.
Additional information is available on the Oklahoma Technology and Research Park Web site at www.oktechpark.com.