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Daily Archive for March 08 2010

More FAQs About the Tech Park

This is the second in a series of FAQs to address issues related to The Dow Chemical Company’s donation of property at the South Charleston Technology Park to the State of West Virginia:

Click here to view the first part of the FAQ.

16.  What happens now that the Higher Education Policy Commission has accepted Dow’s donation?

The Higher Education Policy Commission and its partners will continue implementation of a $500,000 federal grant to study research park models and develop plans for the South Charleston property.  Initial mapping of the property has been completed.   Now that the state has formally accepted the donation, remaining grant funds will be available to continue planning activity related to marketing and fiscal and facilities management.

The Governor will appoint a transition team to oversee this process and ensure that every opportunity to realize the potential of the park is pursued.  The Charleston Area Alliance expects to be at the table during this process.

17.  When will new business tenants move to the tech park?

In the two years since Dow announced its desire to donate the property, global energy-sector corporations and other businesses have expressed interest in utilizing existing facilities or constructing new buildings on the site.  However, because the ownership status of the property was uncertain, these businesses were unable to move forward with meaningful plans to locate at the park.  

Since the Governor announced a week ago that the state would take ownership of buildings and land located at the tech park, venture capital firms and other businesses have begun to inquire about the property again.  

In light of nation’s growing need for energy innovation and the park’s location and rare pilot plants, the site was and is very attractive to corporations and start-ups looking for facilities where they can commercialize research and bring solutions to national and global challenges to the marketplace.  The Alliance will continue working with the Chemical Alliance Zone, Advantage Valley and federal, state and local partners to promote the property to site consultants and others looking for an opportune location to launch or expand a research and technology-related business. (more…)

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