West Virginia University officials broke ground Monday for a research park aimed at luring high-tech businesses and hundreds of jobs to north-central West Virginia.
The park, to be built on a former university farm along state Route 705 near Morgantown, is expected to create at least 240 jobs in the first three years.
"If we invest in research, companies and investors will come to West Virginia,'' Gov. Bob Wise said. ``Our prior investment in research proves this is a good economic development strategy.''
A $3 million low-interest loan from the West Virginia Council for Community and Economic Development is part of the funding package.
WVU President David Hardesty said the project is part of a trend of linking research schools with job creation. WVU has strengths in biometrics, biotechnology, energy, advanced materials, environmental sciences, information technology and homeland security, he said.
It will take about three months to complete excavation and grading on the first 88-acre section of the park, school officials said. The first 60,000-square-foot building should be finished by summer 2006 and will house the WVU Business Incubator as well as 40,000 square feet of space for lease.
John Weete, WVU's vice president for research and economic development, said several potential tenants have already expressed interest. They include Protea Biosciences Inc., a biotechnology firm collaborating with WVU on treatments for cancer and other diseases.
"We want to create a place for them to move into immediately and start doing their work in an atmosphere for them to prosper,'' Weete said.
