U.S. REP. GABRIELLE GIFFORDS INTRODUCES LEGISLATION TO ASSIST SCIENCE PARKS

Bill could benefit two Tucson facilities

WASHINGTON – U.S. Rep. Gabrielle Giffords today introduced legislation that would provide a strong boost to state and local economies by encouraging the construction and expansion of science parks.
 
“This bill will spur innovation and help create the kind of high-paying, high-technology jobs we need to be competitive in the global economy,” said Giffords, a member of the House Science and Technology Committee. “Seed money provided to science parks today represents a wise investment in our future.”

Giffords introduced the bill with Rep. Martin Heinrich of New Mexico.

“When world-class scientists and entrepreneurs put their minds together, anything is possible,” Heinrich said. “Science parks leverage a region’s existing competitive strengths and are a key component to becoming a nation of sustainable growth and quality jobs.”
 
The Science Parks Research and Innovative New Technologies Act could benefit the University of Arizona Science and Technology Park as well as the Arizona Bioscience Park, which is under development.
 
The SPRINT Act authorizes the Department of Commerce to establish a $7.5 million competitive grants program for feasibility studies for the development and construction of new science parks and the expansion of existing ones.

It also provides construction loan guarantees of up to 80 percent, with a maximum loan of $50 million per project.

“Science parks are the best way to harness the intellectual output of our universities and use it to have a direct, positive impact on our economy and quality of life,” Giffords said.

The legislation was warmly welcomed by the head of the UA research parks as well as the CEO of a Tucson-based association of research parks.

“I am pleased to hear that Rep. Giffords introduced this bill,” said Bruce Wright, CEO of the UA Science and Technology Park and of Arizona Bioscience Park as well as president of the Arizona Center for Innovation.

“I have worked on this legislation for several years in my various capacities with the Association of University Research Parks.” Wright added. “This would be extremely helpful as we move forward with the expansion of the UA Tech park and begin developing the Bio Park.

The UA Science and Technology Park on Tucson’s southeast side is home to 41 technology companies and business organizations and more than 7,000 employees who earn an average of $71,000 annually. The park contributes $2.5 billion annually to the Pima County economy.
 
UA’s new Arizona Bioscience Park is under development at Interstate 10 and South Kino Boulevard. It will provide a separate facility designed especially for companies working in biosciences, biotechnology, life sciences and pharmaceuticals.
 
Eileen Walker, CEO of the Association of University Research Parks, agreed with Wright’s support of the bill.
 
“Innovation is critical to the future of the United States,” Walker said. “Jobs and the new industries of the future are being created today in research parks – and are the way to ensure that the U.S. remains competitive in the global marketplace."
 
Science parks are innovation incubators that function through the sharing of ideas. They consist of companies, universities, and national or state laboratories in close proximity that cooperate and compete to develop technology. They often provide the launching pads for startup companies that are “spun off” from universities.

Science parks employ more than 300,000 people in North America, and every job in a science park generates an average of 2.57 jobs in the economy. The parks annually contribute more than $31 billion to North America’s economy.

The House bill is a companion to S. 583, the Building a Stronger America Act, which was introduced in the Senate by Sen. Mark Pryor of Arkansas. The bill has approved by the Senate Committee on Commerce, Science and Transportation and awaits action by the full Senate.