Governor Breaks Ground For New High-Tech Park At University of Illinois
FOR IMMEDIATE RELEASE
March 2, 2000
CHAMPAIGN -- Governor George H. Ryan today joined state and local officials to break ground for a new Motorola facility that will anchor a new research and technology park to be located on the south end of the University of Illinois' Urbana-Champaign campus.
Illinois VentureTECH, the governor's proposed five-year $1.9 billion technology initiative, will fund portions of the new development.
"This new research park will have an enormous impact on the economy of this state as new ideas become new products, new services and new jobs," Ryan said. "We must invest in the future if we want to keep pace in the new high-tech global economy.
"Illinois VentureTECH, in partnership with companies like Motorola, will ensure that this university and this state remain leaders in the high-tech revolution."
The University of Illinois research and technology park will serve as a base for companies specializing in the creation and development of high-technology innovations. The park will target tenants working in the areas of engineering, information technology and biotechnology.
Anchoring the research and technology park will be Motorola's new 72,000 square-foot research and development center. The new $9 million facility will house approximately 220 high-tech jobs.
"Motorola has long been one of Illinois' most loyal corporate citizens," Ryan added. "I want to thank them for their renewed commitment to the people of Illinois and for recognizing the benefits of partnering with the state's flagship university."
Plans are also in place for construction of an $8 million technology incubator to be funded through the governor's VentureTECH initiative. The incubator will foster technology innovations and help high-tech start-up firms develop their ideas.
The research and technology park is a public/private venture designed to attract technology-based businesses interested in accessing the many resources of the University of Illinois and working closely with other high-tech firms. Corporate tenants will occupy privately-financed office and laboratory space developed on publicly owned land.
The Motorola facility will be located on the southwest corner of St. Mary's Road and First Street in Champaign.