Gov. Bob Wise joined West Virginia University officials today (Oct. 18) in breaking ground for a research park that school officials say will draw high technology businesses interested in locating near a major research university. The park, which will be constructed on the old WVU poultry farm just off Route 705, is expected to spur economic development in the region, including the creation of 240 new jobs in the first three years, officials said.

If we invest in research, companies and investors will come to West Virginia,Gov. Wise said.Theyll locate here because of access to cutting-edge researchers and state-of-the-art facilities like this one. Our prior investment in research proves this is a good economic development strategy.

The project builds on a national trend of tying research at major universities to economic development through research parks.

Today marks a significant milestone in the Universitys research and economic development enterprise,said WVU President David C. Hardesty Jr.By making it easier for companies to team with the University by way of a Research Park, WVU is taking another step forward in its mission to be a catalyst for economic development in this state and region.

The project will reflect the Universitys research strengths in the areas of biometrics, biotechnology, energy, advanced materials sciences, environmental sciences, information technologies and homeland security, among others, Hardesty said.

West Virginians will enjoy a stronger economy and increased job opportunities because of the construction of this research park and the growth of our research mission,Hardesty added.

The first phase of development on the 88-acre site includes major excavation work and grading, and is expected to take about 90 days, officials said.

Once that work is completed, roadway and utility corridor development, fine grading and construction of the first building will get under way.

The initial 60,000-square-foot structure�€expected to be completed in summer 2006�€will house the WVU Business Incubator and provide about 40,000 square feet of leasable space. It will generate approximately 240 new jobs over the next several years, officials said.

There are several companies who wish to rent space in the incubator and others who have indicated a possible interest in building in the park,said John Weete, vice president for research and economic development at WVU and president of the WVU Research Corp.We want to create a place for them to move into immediately and start doing their work in an atmosphere for them to prosper.

One such company is Protea Biosciences, Inc., a Morgantown biotechnology firm collaborating with WVU on researching innovative treatments for cancer and other diseases.

WVU s long-term goal for the park includes a 650,000-square-foot expansion over several years to accommodate a total of 2,600 jobs, Dr. Weete noted.

Around $9 million in funding from the WVU Research Corp. and a $3 million low-interest loan from the West Virginia Council for Community and Economic Development are enabling construction to begin. Officials say grants, revenue generated from leasing park space, and public-private collaborations involving the park will all help to fund future development.

Last month, the WVU Board of Governors approved the formal transfer of the property to the WVU Research Corp.�€a wholly-owned subsidiary of WVU �€for development of the research park.

WVU is designated as a Doctoral/Research UniversityExtensive by the Carnegie Foundation, placing it among the top 154 research universities in the nation.

Funding from external sources for all sponsored programs in fiscal year 2004 hit

the highest level in the Universitys history$140.3 million, Weete said. That total represents the sixth consecutive year WVU has seen an increase in external source funding.

In the past two years, 84 invention disclosures have been filed by faculty in the WVU Office of Technology Transfer and during that time WVU has had 29 provisional and 17 full U.S. patents, 12 license agreements and formed two start-up companies, he added.

The rapid growth of our research enterprise and technology transfer activities makes the WVU Research Park a very attractive site for high tech businesses and for new start-up companies,Weete said.