Proposed Fund Could Result In Millions For Texas Economy - KCBD NewsChannel 11 Lubbock

3/5/05

Proposed Fund Could Result In Millions For Texas Economy

Texas Governor Rick Perry was in Lubbock Saturday. He visited the Texas Tech Health Science Center and the Engineering Technology Nano Tech Center. The purpose of his trip was to help promote his $300 million Emerging Technology Fund.

He says the fund will allow top researchers from across the country to collaborate with Texas institutions of higher learning. It will give these researchers the money they need to get their inventions to consumers sooner. At the same time, it will set Texas apart from other states and provide thousands of jobs to Texans.

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"This technology is going to occur and the wealth is going to develop somewhere and I think it needs to be in Texas," says Governor Perry.

Governor Rick Perry wants Texans to recognize the benefits of his proposed $300 million emerging technology fund.

"The Emerging Technology Fund will allow us to create some new partnerships between private sectors and entities and universities across the state," says Governor Perry.

If awarded, the money will allow researchers such as the ones at the Nano Tech Center at Texas Tech to continue to foster technology innovation. Perry says each technological innovation stands to benefit the Texas economy drastically.

"It's something that we may think is as simple as a better light emitting diode that because of the Nano Tech that is being conducted right here at Texas Tech University. We find a way to commercialize that and first and foremost make life better somewhere and make a researcher very wealthy and to bring money back to this university and to Texas," says Governor Perry.

If the fund is approved Governor Perry says it would be illogical to distribute the money equally among geographical regions.

"I think once you start saying X number of dollars have to go to this geographical area of the state or this geographical area of the state you get away from the science and we need to let business drive those decisions for the fund," says Governor Perry.

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State Senator Robert Duncan agrees with the governor and says this region should have no problem having projects funded.

"I will tell you this institute over the history have been very competitive in those types of things I have a lot of confidence that this fund will be a big benefit for this region of the state but also for Texas," says Senator Duncan.

Over the next decade emerging technologies will generate $3 trillion in revenue worldwide.

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