News Releases for September 2005
September 28, 2005
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Hoeven Announces Funding In Place For NDSU Tech Incubator Center Of Excellence
Governor Secures Final Funding Piece From The U.S. Economic Development Administration
FARGO, N.D. - Gov. John Hoeven today announced that funding is in place for the Technology Incubator Center of Excellence, which will be called the Center for Enterprise Technology, which will be located in the North Dakota State University Research and Technology Park.
“This is an important day for NDSU and for North Dakota,” Hoeven said. “The Technology Incubator is a true Centers of Excellence project - a partnership between state and local governments, as well as the private sector and the University System, to create new products, new businesses and better paying jobs for North Dakotans.”
The $5.4 million Phase I project will house businesses doing research and development, offering students an opportunity to participate in cutting-edge research and providing higher paying jobs for the community. Companies already committed to working in the incubator include Pedigree Technologies, Appareo Systems and Feed Management Systems.
Hoeven worked closely with state, federal and private sector partners to help secure funding for the incubator project. Last session, he worked closely with the North Dakota Legislature to establish and fund the Centers of Excellence program, a $50 million program, which can be leveraged to $150 million with matching funding. He also worked with Centers of Excellence Commission Chairman Mark Nisbet to secure private sector funding for the incubator project.
Today, Hoeven announced that he has secured the final piece of funding necessary to move the project forward, a $1.75 million grant from the U.S. Department of Commerce's Economic Development Agency (EDA). The federal grant is the largest the agency has ever awarded North Dakota.
Total Phase I project costs are projected to be $5.4 million, as follows:
Governor's Centers of Excellence Program $1,250,000 Economic Development Administration $1,750,000 Private Funding/Other $2,400,000 Total $5,400,000
Also included in the total is a $200,000 grant from the city of Fargo and $100,000 from the NDSU Research Foundation. The $2.4 million has been committed from private pledges and gifts from private companies. The project has also received commitments of more than $500,000 for the incubator's initial operations from the cities of Fargo and West Fargo and the Fargo/Cass County Economic Development Co.
“North Dakota State University is committed to improving the social and economic well-being of the people of this region,” said NDSU President Joseph A. Chapman. “University research programs provide opportunities for students to grow into their professional fields with opportunities not otherwise available, and the NDSU Research and Technology Park is already showing how research triggers jobs creation in North Dakota. I wish to personally thank the State Board of Higher Education, our state's elected leadership, NDSU researchers and faculty, our private sector business partners, and Governor John Hoeven. It is clear that North Dakota benefits from the powerful partnerships we create.”
“This grant award from the U.S. Dept of Commerce clearly demonstrates that NDSU and the research park are clearly identifying and focusing on the future by creating an environment for entrepreneurship and innovation to flourish in North Dakota,” said Tony Grindberg, research park director. “The $1.75 million grant will allow construction to begin on Phase I of the project that will house tomorrow's entrepreneurs.” Grindberg is also a state senator, instrumental in passing the Governor's Centers of Excellence initiative.
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