, Publisher
11-01-2009
On a cloudy, gloomy morning, the future for Louisiana Tech and the Ruston area became brighter than ever.
Louisiana Tech University broke ground Thursday on the first building of its new Enterprise Campus, a public-private technology research park that school officials and area legislators hope will spur economic development for the state and region.
Enterprise Campus will serve as a home for high-tech companies looking to commercialize the intellectual and research strengths of Tech faculty and students. It will also house government entities that wish to partner with the university in research, education and training, and other business development activities.
The potential impact the Enterprise Campus could bring to our region is remarkable.
Tech estimates that within the first 10 years of construction, the Enterprise Campus will generate 1,100 direct and indirect jobs and $185 million per year in economic output.
The park was originally planned to be 200,000-square-feet built over 10 years on 30 acres north and south of West Arizona Avenue. But university officials said Thursday they now envision expanding the park to one million square feet on 50 acres over a 25-year period.
Research Parks are known for impacting their surrounding communities.
There are more than 170 research parks in North America, most of them associated with universities and modeled after Research Triangle Park in North Carolina, according to the Association of University Research Parks. The association said that for every job at a research park, an average of 750 per park, 2.5 jobs are generated in the broader economy.
There’s plenty of reason to believe the Enterprise Campus will be a resounding success. Tech already has a strong faculty and student base and has enhanced its engineering and nanotechnology programs in recent years to gain widespread notice. Tech also has a strong business school and is located in a growing and progressive community with a solid public school system. The fact it’s ideally situated near Interstate 20 is another plus.
Faculty researchers will be able to find markets for their new innovations, and Enterprise Campus companies will be able to find skilled and prepared workers among students and graduates. Jobs will be created, and the Ruston area should grow and share in the long-term benefits.
It’s a win-win situation for all.
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