More news about Illinois and its troubles. Faculty members at the University of Illinois at Urbana-Champaign are questioning the expansion of a university research park, even as the state struggles with a big deficit and mounting deferred-maintenance problems at its universities.
Late last year, reports The News-Gazette, in Champaign-Urbana, faculty members wrote to the interim chancellor, Robert Easter, the interim president, Stanley Ikenberry, and the Board of Trustees, asking for a “transparent and full accounting” of economic-development efforts, including details about the research park. The faculty members doubt that the research park is carrying its weight.
The newspaper had done an analysis of the costs of the park, which include $19-million on construction, $1-million a year for operations, and another $1-million to rent office space. “The research park does generate lease income, fees, and other revenue, but about half of the expenses this year were covered by university or state funding, according to UI documents,” the newspaper reports.
Advocates for the park say that it has brought in $20-million in research grants and other revenue, and that it has been an outlet for economic development, research, and student work.
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2 Responses to Faculty Members Question Costs of Research Park at U. of Illinois
crunchycon - June 22, 2010 at 4:18 pm
It has brought the likes of motorola and yahoo! to the park and created many, many jobs in this community, over and above the other benefits. On the other hand, I don’t know the numbers. The research park should be pulling its own financial weight. Let’s see the numbers.
jthelin - June 22, 2010 at 8:53 pm
I think a number of studies over several years have indicated that most university research parks do NOT act well as economic engines for the region or state. This month at the University of Kentucky the President and the Board of Trustees allocated a $6 million bail out to UK’s Coldstream Research Park — even though after 15 years of not showing that it brings in income. Now, of course, the Director told the Board and President that “he was confident that next year the research park would show it has generated revenues.” Next year, next yea. How ironic — a university sets up a project whose purpose is to generate revenues, but it loses money and does not generate revenues. Meanwhile, academic departments are held accountable for their tuition revenues, etc.