The Forum - 09/17/02
Research park generates $81.9M in economic help
New construction in North Dakota State University’s research park is creating major economic ripples, and could help reverse the exodus of area college graduates, state and local dignitaries said Monday.
A study by NDSU professor Larry Leistritz estimates the economic impact of construction in the school’s Research & Technology Park at $81.9 million.
The figure includes $54.8 million stemming from Research II, which will house the Center for Nanoscale Science and Engineering.
Lawmakers joined university officials Monday to break ground for Research II and dedicate the $6.2 million Research I building.
"If we’re going to build a future that keeps people here, but brings others back … it’s about creating opportunities, and that’s what this research park does,” Gov. John Hoeven said.
NDSU President Joseph Chapman said the research park “brings an opportunity to North Dakota that, frankly, just did not exist before.”
Research II will be valued at $26 million to $28 million when completed in spring 2004. Footings will be installed before winter, said Phil Boudjouk, NDSU vice president for research, creative activities and technology transfer.
Foss Associates of Fargo is the project’s general contractor.
Leistritz’s study measured the impact of Research I construction at $14.9 million. The facility currently employs about 80 staff and researchers, and focuses mainly on coatings and materials.
Phoenix International Corp., the park’s main tenant, employs 165 workers and had an estimated construction impact of $12.2 million.
“On a scale of big deals and small matters, this is a really big deal – a big deal for NDSU and for North Dakota,” said Sen. Byron Dorgan, D-N.D.
In addition to the construction impact, the park will generate $9.3 million in tax revenue, the study said.
That figure was based on NDSU’s goal of having a $100 million annual research budget.
Mike Nowatzki, mnowatzki@forumcomm.com, (701) 241-5504
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