Morlok

Development
Group

Fall 1989
INTRODUCTION

Research parks. technoltigy transfer. innovation centers. Know ledge transfer.

“technopol is.’ linkages . and business incubators are all part of the latest emphasis in
economic development—the global race for economic growth through techntilogical
advantage. In England. Canada. Japan, Australia, We.st Germany. China, Ireland and the
United States, universitie s. federal, state and local governments and private ctirporations
have joined together in pu blic/private ventures to facilitate the trans ter of technology
t'rom academia to industry.
Stantord, Princeton. the University ot Utah, Duke, Norih Carolina State. MIT and
Rennselaer are just a few of the American universities that have played signil'icant roles in
the economic revitalization of their states through the establishment of research parks. They
all have also enjoyed the benefits of economic growth that resulted from their collaboration
with industry. The establishment of a research park is a long-term process that typically
requires a lengthy build-out period to achieve the proper mix oI tenants and to maintain a
consistently high level of' quality. Nonetheless. when properly conceived and executed.
these public/private ventures have been a major source of new products, new companies.
new jobs and new revenues during the last two decades.
This business plan. which builds on the report, lii vesiigaiion o| Lunâ Develoyittriit
O yyorIunitie.s, Pentt Stare Uiiiversio' Park Campus, outlines ’a strategy for the establishment
of a research park at Penn State and describes some of the benefits that will inure to the
University , the surrounding community and the commonwealth as a result of that initiative .
2
GOALS AND OBSECTIVES OF THE RESEARCH PARK

Penn State has embarked on a positive-sum program to assist in the economic revitalization
of the commonwealth and to broaden the resources available to the University through a
partnership with government and the public and private sectors. The de velopment of a
research parti at Penn State is one element of this program and a logical extension of the
University's historic pattern of participation in economic development.
In recognition of the public/private nature of the research park and in funheranée of the
University's commitment to a positive-sum approach, this business plan adheres to the
goals, objectives and conditions for development formulated by the Penn State Ecoijpmic
Development Advisory Committee of area business, education. student and government
leaders. Those goals, objectives and conditions are:
• Protect the Centre Re grem's pli›'sical arid naiui‘al ein›ironitient, est›eciall› irifle i-espiecI
to water . land. air, anJ open spiace.
• Ensui e compulibilirr and con)ormaii‹’e n'itIi local government land-ii.se fiiIuni1iit¿,
rezulai ions and zoninz, arid flue reLion s evolvine infra.'urucIure.
• Preserve those qualii ie s oJ I(fc c Mirrentl5 valued bx' area reside nts iJini » ilf ‹’oniinue
io atiru‹ t fuiure ‹'itizen.s supportive of the Centre Re yion comment .
• Provide inc'rrused emplovmem u‹ ross a full raii ge of opportunities cmml job .skill.s .
• Ensure ‹’ompat ihilit x ii›iili the yon1s and objecti ves of'siatr, re(ii›i ia1, ynâ lc ‹ ul
e‹ orit›niir' devrf opment itiiliaIive.\.
• lmyi oi'e I for oyyortunitie.s |'or yrii›ate set tor initiatii es llirotidli a /›r›sii/i ‹›-.suiii
ayyroar/i /r› last J Jeveloymriit Hint fosters rooperai ion air J Jist’‹ ura"‹ :’ uitfaii-
‹ omyetii ioii.
• Establish destin yuiilrlit1e.s’ and st‹iitdards Hut ensure ileai loitd Jr›› r l‹(:nut ii I aiiJ
ti.sc› will be aesIhetit'all x pleasin g anal compatible u'itli the e. i.stin y ‹airq›ii.s anâ
.surroiiii Jin y area.
• Pro vide itartc ill resourc'es for the Qtr ix›ers ip''s missions ih rrnigij etti'r ii 'e rime r,/ ii.i
pas.tive land o.rxe/s.
Penn State's Positive Sum
Program
Penn State ıx ill ıv'ork lo yı-‹ vide
r/JviJerv sert'i‹ es /o y r? veı-Jııııe,ır fu
ııssist in formu latin g «rr/iın pıl-e
ınentign ne ‹'essar x' yıtb lit p elin
ie’,s
«nd proEmrine tr?of’ .stete- ‹ 'onnıni‹ ’
, rowth, jobc ı‘eationı, ıuıinI e un ‹ıte
of an uae inf raısr ıı‹ tıt rea, ı ıd
adqe t
p reservation and restorati ‹›ıı o]’
t •ııvirı›ıımentnl q ualivt .
Penn Staten ill consiâ er t1le ot-Jet-1x
‹ ıı1d ‹ı‹ rej uIl\’p larmed use ‹› )'
Universi j' lands]or theı fevrloı-p
ıneın of re.sear‹h- ando] j‹ie p orks.
lwsıi ıess iı ırubaıorsa, ‹ x›ııf'erıeı‹
e ı enter. et t’. Sue’/‹ı l evrloyı ııld
nentsc o'
o‹’ ntribute sil ı'ti fc aııı/v ırJ //te ı«.t
ha.se r›} //tr cfÎ fe’t ted rr›/ıtmurifies nuh
c ı'eate jobs inu ın‹ uuıı-e I hıct will nr›
r ı'tıvolve inapprop riate ‹ oınp eıitişe
u'it/ı the peri vate see-Ior.
Penn State will further p ro vdie
and promoteu busines-s sıe ısıi ive
environme nt within thy Univer$ it
x• ı vhic'h]aciliıates acc eseaı y: f
su-y fıoır ive relıa ionships berween
the academic unJ the industrial
c o m-
ınuni/ies. Thisiı -ıt ludesı nonıi orıiı g
Penn State’.x contractual p olir
ies ı mJ patenı and licensiıı g
policies
.ın that faculy m emhersa etive in
such areas havr adequate fle.xibilit
und apy rp riate support and
a
eı ırou ragement.
Penn State coulJ undeır ake ventura
‹Ntdeq uryi investments to p romote
theap propriate kinJoJ development.
A c/ivıi ise would in‹’lude the supporı
oJ seed capital invesıments, i-n
t'ubator facilities, andv arious
kinds of research and Jeve/opment.
DESCRIPTION OF THE RESEARCH PARK

The Penn State Research Park will be a mixed-use, pedestrian-oriented campus located on
the site identified as the 322 Bypass Site (see Figure 1) in the report. in› esrigotion of
Land Development Opportunities al Penn State, Uiiiversin' Park Campus.

Selection of the Research

Park Site
The 130-acre site was selected out of
The final site planning will address
5, 200 acres owned by the University after
hydrogeology and the potential for
an extensive review of physical.
sinkhole development, the impact of
environ- mental, political, social and traffic on arterial streets, and rezoning of
economic issues. Major advantages of the site. In addition, overall land
the site include: planning for the College of Agriculture
• Adjocen‹’y to the 322 Bypass, will be considered.
which cam ace'ominodate all
vehicular irafJi ‹]roin the fully
developed research park and
provibes direct ac‹'e.ss to local
and reyic'na/ emplo›'ment boses.
• Uiililies, iiicludiny water, se wei , to.\
anlt electricin', readily available to
the site or that can be made
avariable throudli ordinary
extensions.
• Lo ’amen within ihe boundaries of the
Centrr Repion’s proposeJ expanded
Groo›th Area.
All emer(encx' servi‹'e.s within a two›-
little robin.x.
• Aâjarenr v in the Uni ersits'
without re.sIric’tin y growth of the
academir

• Ea.s’e of connect ion to puhlir tron.s-

yortatii›ii, in‹’ludin y CATA aitd
ih‹
Design of the Research Park
Design of the research park will em The Penn State research park also
phasize a network of landscaped and will include facilities typically associated
lighted pedestrian walkways and green- with a high quality research park, such
ways with common area amenities to as a conference facility and hotel, a
encourage interaction between academic technology center, business services,
and industry researchers. Common- interdisciplinary research centers
area amenities will include public art, established by the University, and other
heavily bermed roadways and complementary facilities.
parking lots, recreational facilities,
and a park with reflecting pools and
fountains.
Guidelines for the appearance and
maintenance of the park will be estab-
lished in order to ensure and perpetuate
a high quality environment.

Selection of Research Park

Tenants
Sites within the park will be leased to Figure 1
companies that enhance the research Research Park
park's stated goals and objectives. These Site
companies include those which comple-
ment the University's teaching, research
and service missions, and those which
would be attracted to Centre County
primarily because of the Penn State
research park. Selection of tenants will
primarily focus on consortia,
corporations, and institutions whose
research cor- responds with research . RCC
conducted at the University and on other
potential
tenants that could benefit from a location
adjacent to the University.
6
MARKETING PLAN

Because of their often cited success in rejuvenating local and state economies and
boost- ing the reputation and resource base of Universities. research parks, and in
particular University-affiliated research parks, have gained sis•ificantattention from
government. business and academic leaders. What is not well-known, however, is that
there are also many research parks that have failed. Two factors that repeatedly distinguish
the successes from the failures are the research strength of the sponsoring institution and
the lscation of theresearch park.

Penn State's Research Strength

Penn State has a long history ofdis-
tinguished research. Its current ranking
by the National Science Foundation
(NSF) as third in the nation in industry-
sponsored research illustrates private
industry s high regard for Penn State
National Science Foundation's research. NSF also ranks Penn State as
Top Ten Listing for number one in the nation for research
Industry-Sponsored R&D expenditure growth and number 15 in the
nation for total R&D expenditures. Penn
. ăffT State also is currently ranked number one
z° Hniver.site' o[Penn.s›'lvaiiiu in research volume among Pennsyl vania
3. Penn State universities.
4. Geor gia lnsiiiule of Te‹’linoloț› An assessment of research programs
5. North Caroliiui State at Ralei gh conducted at the University revealed a
6. Texa.s A&M broad range of research activities attrac-
7. Carrie yi‹ Mell‹›ii tive to industry, including agriculture,
arts and architecture. sports research,
2. Cornell engineering, biotechnology. and
materials and other sciences. A more
extensive and detailed listing of these
and similar programs is included in the
companion report, Invr.sit gaiii›ii of Luiul
Development Opyorfuitiii . Penn Siai
Llniversi j' Park Campu:.
Location of the Research Park
Location has always been a primary
determinant of' real estate success. State
College. Pennsy lvania, the home of
Penn State, is strategic all y located at the
geographic center of Pennsylvania.
However. the level of success attained
by the research park will to some
extent be dependent on increasing
access to the region through
imprtivements in air- and ground-based
transportation.
Several initiatives toward achieving
that objective already have occurred since
the University first unveiled its interest in
promoting a Penn State research park.
Among those are signi ficani improve-
ments in regularly scheduled flight
service from Penn State’s University
Park Airport to major national commuter
hubs. Cooperative efforts by the Centre
Region governments. planning agencies
and the district transportation engineer
to advance major highway improve-
ments through the state's 12-Year Bridge
and Highway Program must also be seen
as a positive step toward improving
’access to the region.
The innovative use of telecom-
munications, including satellite and
teleconferencing facilities, can also
enhance the area's accessibility. Penn
State has established itself as a leader in
the country for employing telecommuni-
cations technology.
The high quality of life in the region
will be of enormous recruiting advantage
to the park. Surveys conducted by several
national research organizations. includ-
ing SRI. Battelle and ltte Urban Land
Institute. consistently list quality of life
among the most sip•nificant locational
factors considered bj corporate R&D
planners. As an indication ot the region’s
superior quality of life . an article in the
November 1988 issue of P.ex cholog
Toâa- ranked State College, PA. as the
least stressr I environment am‹›ng the
nation's Standard Metropolitan Statistical
Areas.
Three-Phase Marketing Plan
marketing of the research park will occur on a national basis and will intake aggressive use
of Penn State's active alumni organization. z'h ich is the second largest in the nat ion and
includes 15 heads oI Fortune 300 companies. A three-phase marketing plan has been
designed to take advantage of the research stren eth of' the Uni versity :ind the high quality
r›t life of the region while transportatitin imprtivements are underway. Tljis unique.
incremental approach to development begins u’ith a résource-building“ ’ phase.

Resource-Building Phase
During ‘ resource-building, ’ the
University wiI1 institute programs and
policies that tacit itate the transfer of
technology from academia to industry
through the newly formed Office of
Technology Transter. This of fice has
nItenâ reviewed and is revising the
University ’s patent policies. contaict
of interest rules and corporate officer
policies so they are ctinsistent with other
universities endaged in entrepreneurial
relationships with industry. Coordination
with the academic and local
community will also continue during
this phase. and a .survey to determine
corporate interest in the research park
is underway.
Critical-Mass Building Phase
The second phase of development is
the “critical-mass building’ ’ phase.
While re tional infrastructure
improvements continue. the
University will establish evidence of
activity on the research park site by
leading of I development with
Iacilities that are synergistic with industry
and already programmed for develop-
ment by Penn State. These facilities
will include a conference facility and
hotel, University-sponsored
interdisciplinary research centers, and a
technology center that will include a
business incubator
and University offices. Locating these
facilities in the park during its early years
will distinguish the park from its peers
and increase its visibility and market-
ability to industry.
During this phase. the research park
will be marketed on a national basis in
a highIy targeted tashitin to ctimpanies
that would be Iikely to benet it from a
location in the Centre County reuion
next to Penn State. A major focus
during this phase will be to market to
companies already located in the State
and M id Atlantic region, in recognition
that these tenants rcpresent the most
Iikely market while the park is
building a critical mass.
An added foCus will be placed on
marketing to start-up and early-stage
ventures. Given proper enppon. these
homegrown companies can be expected
to remain in the Centre Recion and
contribute to its growth as a vital pan of
the know ledge-based economy. Faculty
and local industry entrepreneurs have
already generated spin-otf companies tw‹›
and three generations deep in Centre
County.
Name-Building Phase
Once a critical mass at facilities is
constructed and regional infrastructure
improvements are in place or substan-
tially underway, the research park will
be aggressively marketed to nationally
and internationally renowned research
corporations. This “name-building”
phase is the third phase of the marketing
program, Attracting a nationally or inter-
nationally recognized name to the park
will further enhance its name recognition
and help attract other prominent
tenants to the research park.
8
IMPLEMENTATION PLAN

Construction of the research park will parallel the three phases of the marketing plan (see
Table 1). The parceling of the 130-acre site is designed so that each phase represents a
complète project in both np9earance and financial viabilité. Construction of infrastructure
will be limited to roads and utilities necessary to support buildings constructed in each
phase. This approach gives the University the flexibilité to respond to adverse econornic
conditions by discontinuing development of the park at thë end of any phase or partial
phase.

The Initial Phase

The first construction phase, Phase A,
coincides With the ‘‘critical mass
building” period of the marketing plan.
Phase A is scheduled to begin in 1991
and has two subphases. Phase A-1 (see
Figure 2) includes 378,000 square feet of
pro grammed University facilities, a
hotel, technology center and the
infrastructure necessary to support them
(see Table 2). Occupancy of Phase A-1
buildings is ex-
Figure 2
Phase A-1
pected to occur in late 1992 or early 1993 .
Phase A-2 (see Figure 3) includes the
construction of infrastructure necessary
to support 228,000 square feet of com-
mercial R&D space. Commencement of
Phase A-2 infrastructure will not occur
without a commitment trom a feud
tenant to occupy the initial building and
an indication of favorable market
demand
to utilize the balance of infrastructure.
Table 1
Table 2
Marketing
Buildout:
and
Phase A
Construction Phasing

89 90 91 92 93 94 95 96 97 98 99 00
Marketing Phases
Resource Building
Critical Mass
Name Building

Construction Phases

Phase A
Phase B
Phase
C

Figure 3
Phase A-2
Phase A-1 Gross SF Acres
PSU Conference Facility (C) 112,000 8.09
PSU R&D Laboratory (L) 100,000 7.23
Subtotal 212,000 15.32

Technology Center (T) 66,000 4.77

Subtotal 278,000 20.09

Hotel (H) 100,000 7.23

Total 378,000 27.32

Phase A-2
Commercial R&D Laboratories 228,000 19.55
(R&D)
Grand Total 606,000 46.87
10
Subsequent Phases
Subsequent phases are predominantly
comprised of commercial R&D tenants,
with some expansion of University
facilities arid business services. Phase
B (see Figure 4), which coincides with
the “name-building” period of the
marketing plan, is expected to begin in
1996, but could begin earlier if a
nationally or internationally prominent
tenant is found. This phase includes two
subphases with a total build-out of
328,000 square feet.
Figure 4
Phase B
Annual Absorption
The total buildout of the research park
through the year 2000 is projected to be
1,500,000 square feet on 130 acres, for an
average absorption rate of 150,000 square
feet per year (see Table 3). Absorption
of commercial R&D space in the park
through the year 2000 is projected to
ap- proximate the national average of
80,000 square feet per year.
Phase C (see Figure 5) is scheduled
to begin in 1998 and has three subphases
with a total buildout of 570,000 square
feet.
Table 3
Construction Start Schedule
Building Gross Square Feet:
All Phases
Phase A Phase B Rhase C
A-1 ”A-2 B•1 B-2 C-1 C-2 C-3
Project Component 1991 1892 | 1993 | 1994 | 1995 1996 1997 1998 1999 2000 Total
PSU Conference Facility (C) 112,000 0 0 0 0 0 0 56,000 0 0 168,000
PSU R&D Laboratory (L) 100,000 0 0 0 0 40,000 40,000 40,000 0 0 220,000
Technology Center (T) 66,000 0 0 0 0 30,000 0 0 0 0 96,000
Hotel (H) 100,000 0 0 0 0 0 0 100,000 0 0 200,000
Commercial R&D Laboratories 0 57,000 57,000 0 114,000 99,000 99,000 86,000 50,000 213,000 775,000
(R&D)
Retail (R) 0 0 0 0 0 10,000 10,000 15,000 10,000 0 45,000
Total Square Feet 378,000 57,000 57,000 0 JJ 4,000 179,000 149,000 297,000 60,000 213,000 1,504,000
Tota! SF per Phase 606,000 328,000 570,000

Acres under Construction 27.32 7.30 4.08 0.00 8.17 23.09 17.15 20.33 4.30 1B.26 130.00
Total Acres per Phase 46.B7 40.24 42.89
|

Figure S
Phase C
l?
BUSINESS STRUCTURE

Penn State will make land available as it is needed for the development of each phase
through long-term land leases to developers selected by the University. At the expiration of
the leases, the land and all improvements will revert to the University.
The management of the research park will be carried out by a corporation wholly owned
by the Corporation for Penn State, known as Research Park Management Corporation
(RPMCo).. RPMCo will establish guidelines to ensure that the research park complements .
the mission of the University and enhances the interests of the local community. including
the local Industrial Development Corporation and the state. RPMCo will coordinate
all marketing activities and will have ultimate responsibility for all development
activities undertaken within the park.
RPMCo will retain Morlok Development Group under a services agreement to perform
the daily development activities to be undertaken with respect to the research park. Under
the control of RPMCo, Morton Development Group will obtain permitting for the
entire tract, will consult with RPMCo in the marketing of the park and will provide
assistance in obtaining the financing necessary for construction of the park.
Once permitting is obtained, Penn State will lease parcels to developers to install
infrastructure and construct buildings.
Phase A-1 Activities Future Activities
Phase A-1 of the park will be leased to If development proceeds beyond
Morlok Development Group, who will Phase A-1, subsequent phases may be
develop the conference facility and leased by Penn State to either Morlok
interdisciplinary research center for the
Development Group or other private
University on a turnkey basis. Upon
developers to finance, build and
completion, both facilities will be
manage build-to-suit R&D offices and
transferred to Penn State for its use and
University buildings on terms to be
occupancy.
negotiated at that time. All such
Also during Phase A-I, Morlok
development will conform to the
Development Group and Penn State
guidelines established by RPMCo.
will form an entity to develop the hotel,
which will be financed substantially by
private investors and managed by a
nationally recognized hotel operator.
The size of the hotel has initially been
set at 150 rooms, which will
accommodate approximately one-third
of the room nights expected
to be generated by the University's ex-
panded conference facility. The balance
ot the room nights will be accommodated
by the Nittany Lion Inn and area private-
sector hotels.
For the Technology Center, which
includes the business incubator,
Morlok Development Group will obtain
constmc- tion financing and develop
the building.
It is anticipated that the
University and/or other public
sources will pur- chase the
building.
14
FINANCIAL DATA

Financing
Financing for Phase A- 1 of the research park is expected to come from se›'eraI different
sources. Construction period financing generally will be obtained through conventional
lenders. Permanent financing options will vary according to the ultimate end user of the
building. Special purpose funding from the state will be solicited to finance or secure early
infrastructure debt and off-site improvements. such as roads and utilities. For University
facilities. permanent financing is expected to be secured through tax-free bonds issued by
the University or an affiliated entity. The University has identified revenue sources which
will service the debt over the life of the bond issue while not diverting funds from University
programs,
The Technology Center will look to several financing sources. including the Pennsylvania
Industrial Development Authority, the Commonwealth’s Ben Franklin Partnership Fund s
Small Business Incubator Program, and low interest loan.s and grants from the local
community.
Financing for the hotel may be organized through a limited partnership syndication
of equity which could include alumni and local investors and debt from conventional
financing. Penn State will enable financing of the hotel through a minimum guarantee of
room ni•hts from the conference center. In return. the hotel developer u'ill pay a conference
center fee to Penn State for the room night guarantee.
Permanent financing for subsequent phases will be obtained by capitalizing ongoing land
lease payments from tenants to retire construction period debt.
Project Costs
Project costs include all direct and indirect University faci lit ies will be
coasts necessary to construct infrastruc- constructed at cost on a turnkey approac h .
ture and buildings, as well as intere.st tin with prot'its to Morlok Development Group
construction period debt. Direct ctist.s limited to normal development tees.
include all “hard costs' ’ of construction Nonuni versity tenants will pay Penn State
such as labor, materials, overhead and a land rent equal to 10 percent of the tair
expenses. Indirect costs include all “sol't market value ot its raw land. The hotel is
ctists, such as insurance, professional pr‹ajccted to prtivide a market rate return
and financing fees. project administra- Its in ves tors.
tion. surveys, appraisals. permits and
marketing. An allowance is also in-
cluded f‹›r propeny taxes on the t‹›r-prutJt Table 4
p‹›rtion cf the project. Project Cost:
Fur Phase A- I , prcjec t costs are Phase A
estimated to be $60. 45 million. which Icost in millions)
includes $36. 54 million for Penn State s
conference facility and interdisciplinary
research center Isee Table 4). Phase A-2 infra Bldg Tota!
Phase A-1 Cost Cost Cost
project costs equal $59. 70 million, tc*ze
PSU Conference 0.95 18.00 18.95
total of $ 120. 15 million at the end of Facijify PSU RED 0.85 16.74 17.59
Phase A. Costs for Phases B and C are Laboratory
$82.33 million and $ 158. 45 million Subtotal $1.B0 $34.74 $36.54
respectiveIy. Project costs for Phases A Technology Center 0.56 5.61 6.17
through C equal $360.93 million (see Subtota) $2.36 $40.35 $42.7\
Table 5).
Hotel 1.33 16.41 17.74
Tta $3.69 556.76 $60.45
Cash Flows
Phase A-2
A comprehensive financial model was
Commercial R&D Laboratories 3.01 56.69 59.70
constructed to test the financial feasibility
of the research park. This model only Grand Total 56.70 , 8113.45, $120.15
includes texenues from land rent: it does
not show any revenues from buildings.
The model estimates land-lease payments Table 5
to the University, project costs. Pro,ject Cost:
financial and interest expenses, and All Phases
escalation. (cost in millions)
Revenues from land rent were established
on a cost basis and checked against
area comparables. The proforma
predicts positive cash flows at the
completion of PhaseA- 1, and positive
cash flows at the conclusion of the
subsequent three major phases.
 Phase A Phase B Phase G Total
Infrastructure 6.70 4,45 5.17 16.32
Buildings 113.45 7788 153.28 344.61
Total $120.15 $82.33 $1ss.<s s3so.gz
1.6
CONCLUSIONS

This Business Plan is the abridped version of an extensive study of the financial
feasibility of developing a research park at Penn State. The study was conducted by a team
comprised of principals from Morlok Development Group and senior University
administrators.
The teams' conclusion is that a Penn State research park is not only financially viable,
but is highly desirable because of the opportunity it presents for furthering the teaching,
research and service missions of the University, and for invigorating the economic health
of the Centre Region and the state. Although all the benefits ot the research park will take
time to be realized, they are expected to be substantial over the long term.

Benefits of the Research Benefits of the Research Park

Park to the University
to Industry
• Increased corporate{uiidin$ of
• Ac'cess io graJuoi e .students as
f›oIential em(iloyees.
c-orporation.s more attuned to flu
• Ae ‹ ess to f'a‹ ultx experti:’e in lien oj
teaching, research and service
‹xpianded innernal staff
missions of ilie Llnivrrsi .
‹’oniinitinent›.
• Inlernshiys f'or . indents and lull-time
job.s]or graduciies.
• Increased oppoi-initiate.s f'oi-
spousal emplo ymeiii.
• Enhan‹-e ‹ ultural Ji versits' throu
Ali inc-reased iniii or-in am
iiiternyIi‹›iiul representation iii the
• De yree yrograme for ernplo yer.s.
i›'orkf'or‹’e.
• Ac‹’ess to libraries and inf'orniai ioii
• Enhance J re‹ iiiliiiy ef|orIs (‹n
.vv.îfeJn.s, c“ontinuitiy educniroll
IiifiIi-
oyyortunitie.s’, i'ultural aclivitie: .
uit‹f /itc’iilt›' c-or.so llynts.
• Presii țr fi oin u.si oc’iati‹›ii with
a ivorlâ-‹’las.s uiiivrr.tit›'.

Benefits of the Research Park to

the Community and to the State