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Caption: Map of UIUC (2001) (Economic Development)
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Leveraging State Investments One of the fundamental principles of the Governor’s VentureTECH program is that State funds should be provided primarily to projects and programs that will in turn leverage the availability of private, corporate, federal or other non-state investments. As described more completely below, development of the south campus at UIUC will produce remarkable leveraging opportunities including: • A nearly 1:1 match of state investments in new agriculture and technology transferrelated facilities, which combined reach nearly $400 million. $35 million annually in new research grants and contracts, once the agricultural facilities are in operation. Creation of 5,000 new jobs in high-technology related areas with the initial phase of the south campus research park. Opportunities to secure additional private funds for projects such as a new hotel/ conference center proposed by the research park developer, a possible new championship golf course, and a possible new home for the U of I Alumni Association. on page 13 will provide a number of ancillary benefits. Improved technology transfer opportunities will help the University of Illinois continue to recruit and retain top-quality faculty, staff and students, including those with strong entrepreneurial interests. In turn, those successful recruitments will sustain the State’s competitive advantage in agriculture, biotechnology and information technology areas, and will further strengthen the U of I’s abilities to secure private, corporate and federal research and development funding. New opportunities for cooperative ventures with Illinois agribusiness sector will emerge, and the U of I’s relationship with that sector of the Illinois economy will be strengthened. Leveraging opportunities are also significant for the VentureTECH investments in the north and central parts of the UIUC campus. Once the Siebel, PGI and Microelectronics facilities are completed and fully operational, federal or corporate research and development grants and contracts are expected to expand by $25 million per year. Significant private capital investment ($32M) has also been secured for one new facility, and the prospects for comparable private investments for other technology-related facilities are very strong. • • • Beyond these direct leveraging opportunities, investments in the programs and projects described Rendering of Proposed Alumni Association Building ? Infrastructure for Economic Development | page 12
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