Iowa City Press Citizen, IA
06-01-06
Vilsack signs bill with cash for UI
Funds for faculty, business recruitment
By Rachel Gallegos
Iowa City Press-Citizen
CORALVILLE -- Part of a bill signed Wednesday will provide $20 million to the
state's universities for endowment chair recruitment and to create partnerships
with the private sector, Gov. Tom Vilsack announced at the University of Iowa's
Oakdale Research Park.
After signing the bill in Ottumwa, Vilsack traveled to Coralville to make the
announcement at the Center for Biocatalysis and Bioprocessing.
"This facility represents the future of Iowa," Vilsack said.
The $20 million from the Infrastructure Fund will be divided so $5 million will go
toward university recruitment of entrepreneurial endowed chairs, $7 million for
infrastructure and $8 million for project grants.
The last two funding items combined are geared toward making Iowa a leader in
economic development, especially in the fields of bioscience, information
technology and advanced manufacturing.
"This is a down payment to a brighter and better future in Iowa," Vilsack said.
The eight-member Technology and Commercialization Resources Organization,
composed of four regents and four members of the Iowa Department of
Economic Development, will decide which partnership projects will receive grant
funding.
"We made it even so nobody controls it. They have to be working together,"
Vilsack said.
The money will help small startup businesses, especially those in biotechnology
and information technology, said Rep. Swati Dandekar, D-Marion.
The idea of giving state funding to projects that combine private business with
university research was first tested with a pilot program last year.
During the pilot program, five projects were funded, but the board focused on
three, said Ted Crosbie, Iowa's chief technology officer and a member of the
board.
One of the projects funded last year was the Human Nutrition Wellness
Research Center on the Iowa State University campus. The center tests food
ingredients, something Crosbie said could help lure companies nationwide to use
this Iowa-based service.
The money provided by the state was designed to leverage the project. Projects
must be self-funded after the initial grant and must receive an equal match to the
initial grant by individual partners.
Another goal of the funding was to foster cooperation among universities,
Crosbie said.
Researchers at the Center for Biocatalysis and Bioprocessing gave Vilsack a
white lab coat, which he wore during the event.
"They obviously didn't look at my science background," he joked.
The funding goes into effect July 1.
The overall bill, totaling $271 million, also provides funding for a variety of other
issues including public safety and water quality, Vilsack said.
Vilsack also spent time Wednesday at the Englert Theatre as the keynote
speaker for a community luncheon that brought youth together with community
leaders.