The Whitewater University Technology Park received a $4.7 million grant from the federal Economic Development Administration to help fund the Innovation Center and park improvements.
The Innovation Center is designed to foster the development of new business-based research conducted by University of Wisconsin-Whitewater faculty and staff and their business partners and is expected to create several hundred jobs in the future.
"The Whitewater University Technology Park will be a great addition to the City of Whitewater and the UW-Whitewater campus," Chancellor Richard Telfer said. "This joint project will give our faculty and staff and students yet another way to expand the reach of the campus into the region. The research and development that will take place at the Whitewater University Technology Park will have a positive impact on the future economic growth of southeastern Wisconsin. UW-Whitewater is pleased to be a key player in this project."
The total cost of developing the Whitewater University Technology Park is about $10 million. The remainder of the funding will come from the Whitewater Community Development Authority (CDA), revenue bonding and other sources. The Innovation Center building will be owned by the CDA with UW-Whitewater providing the intellectual capital.
The federal grant allows the Technology Park Board to begin construction of the Innovation Center later this year.
"Once the Whitewater University Technology Park is operational I believe we will see new businesses begin to develop quickly. I expect that, in 10 or 15 years, we will look at what has been accomplished by this partnership and simply be amazed," Telfer said.
The Whitewater University Technology Park will be located on 125 acres bordered by Corporate Drive, Howard Road, Bluff Road and Moraine View Park on the city’s east side.
Telfer said the technology park will be built "green" to complement existing wetlands and parklands on the site.
The current Whitewater Business Park was developed in 1986 and is one of the largest office and industrial parks in southern Wisconsin. It covers 540 acres with room for expansion, and the 20 businesses now located in the park employ about 2,300 persons.
For more information go to www.whitewatertechpark.org.