Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, September 18, 1993 TAG: 9309180244
SECTION: VIRGINIA PAGE: C-4 EDITION: METRO
SOURCE: Associated Press
DATELINE: RICHMOND LENGTH: Medium
"I think it's essential that Virginia participate in the biotechnology economic development that is taking place in the United States and worldwide," said Eugene Trani, president of Virginia Commonwealth University.
Virginia has three of the top 100 research universities in the country - Virginia Commonwealth, Virginia Tech and the University of Virginia. Research projects at the three schools bring in an estimated $300 million a year.
The universities also are involved in three of Virginia's five biotechnology research parks.
Gordon Davies, director of the State Council of Higher Education, conceded to the committee members that biotech research parks don't create a lot of jobs, "but they create a lot of wealth."
The Virginia Tech Corporate Research Center began operations in 1984 and employs about 600 workers.
"Nonetheless, the work being done there has commercial value to the commonwealth and can stimulate the economy," Davies said, "but not in the smokestack way of creating jobs."
The first building of UVa's research park is to open soon. The Health Sciences Foundation Administration Building was built on a parcel being developed as the University of Virginia Fontaine Avenue Research Park.
Virginia Commonwealth is at the forefront of developing the Virginia Biotechnology Research Park on 20 acres of downtown Richmond.
At its completion, estimated in June 1996, the research park would occupy 1.5 million to 2 million square feet, generate $250 million in capital investment and employ about 3,000 scientists and technicians, Trani said.
Groundbreaking is set for March, and Trani hopes the research park would become economically self-sufficient in three to four years.
Organizers are working to attract federal laboratories, as well as small, start-up companies and larger enterprises, such as a Swiss drug testing firm.
Other biotech research parks in Virginia include the George Washington University Center in Loudoun County. The city of Norfolk and the Medical College of Hampton Roads also are involved in a joint venture to build the Hampton Roads Biomedical Research Park in Norfolk.
There are about 130 university-related research parks in the United States.
by CNB