Alabama Gov. Bob Riley delivered the keynote address during ground- breaking ceremonies Nov. 17 to officially launch the building effort of a new research park at Auburn University.
Riley said the research park will be a catalyst in the state of Alabama’s drive to build an internationally competitive economic model based on technology and knowledge-based industry.AU’s Office of Technology Transfer will be a tenant in the park which is slated to open in late 2006 - early 2007. The first phase of construction will contain two buildings, a 70,000 square-foot and a 60,000 square-foot facility. One of the buildings will house a business incubator for start-up companies formed to commercialize Auburn research developments and technologies.
"This is a true public and private partnership," said AU Vice President for Research Michael Moriarty. "This park is a highway to the future, not only for the university, but for the city, county and state."
The state of Alabama is providing $10 million to support the project. Speaking in support of the project Gov. Riley said, "If you look at states today that have had an economic renaissance, it’s because of their research universities." On behalf of the city of Auburn -- which is investing $5 million into the project -- Auburn Mayor Bill Ham said, "Our government understands the economic development engine Auburn University can be."
The park will occupy a 156-acre site located at the intersection of South College Street and Shug Jordan Parkway.
"The research park will help establish Auburn University as a widely recognized research institution," AU Interim President Ed Richardson added. "Moreover, the research park will help broaden Auburn’s sources of potential revenues while also strengthening the research industry within the state and region."
The University Financing Foundation (TUFF) of Atlanta is the private developer financing the project.