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Southern Illinois Research Park at SIUC receives Delta Regional Authority grant
Carrie Roderick
Daily Egyptian
SIUC officials hope to one day see 75 businesses at the Southern Illinois Research Park.
And the goal will be aided with grant money, such as the recent $50,000 Delta Regional Authority grant from Rep. Jerry Costello, D-Belleville. The will be used to help SIUC expand its research park in the spring of 2003.
With the grant dollars, there is now almost $1 million in equity available for a bond issue that will be used to pay for planned the 40,000-square-foot complex.
When all the construction is completed, Lenzi anticipates 13 buildings with a total of 300,000 square feet, including the 55,000 already occupied by the Dunn-Richmond building. The park will create 1,200 knowledge-based jobs and a $40 million payroll, Lenzi said. As many as 75 businesses are projected to be at the park.
Raymond Lenzi, associate chancellor for Economic Development and research park executive director, said the $4.2 million- to $4.3 million-bond issue should be finalized in the spring of 2003. Lenzi said the bonds will be repaid with revenues from leases on the building.
The Delta Authority is responsible for developing plans and economic development programs. There are 16 Southern Illinois counties in the Delta.
Lenzi said the Southern Illinois Research Park will be developed contiguous to the Dunn-Richmond Economic Development Center, which will be the park's anchor.
"The research park will provide for the creation and expansion of more high-tech jobs for SIU students and faculty," Lenzi said. "It'll bring the payroll and spin-off equal to total the positive economic impact that will be about 200 percent of the payroll itself."
