SD research parks develop regional presence

BY DWAINE CHAPEL

Developing strong partnerships provides key opportunities to economic growth Economic development professionals work on local and regional collaborations. In September, economic development leaders from the University of South Dakota Research Park and the Research Park at South Dakota State University held a joint board of directors meeting in Sioux Falls, S D The spirit of the meeting was to develop a strong relationship between the two parks, the two universities and the South Dakota Board of Regents It was a key first step in developing a strong regional partnership

The team shared with the joint board that during the 2015 South Dakota Legislative session, the first Research Park Day at the Legislature will be held on Feb 5 This event will provide the opportunity to further discuss the importance of research parks as economic development tools It will highlight the importance of the Board of Regents as a driving force behind the continued success of developing a long-term research, science and technology base The research parks will become a place for innovation to be developed and commercialized.

The organizations provided the joint boards with an overview of the research parks’ purpose, histor y, investments and current successes The general purpose and vision for both parks is to create a unique environment to stimulate economic g row th by connec ting universit y resources, research and talent with private industr y Background relating to the development of each park and its current position in time was delivered The discussion outlined the cost of park development to date by the Research Park at SDSU The USD Research Park, being established on 80 acres adjacent to the University Center Sioux Falls campus, is in the final stages of its master plan development

"It makes great sense for our communities and parks to collaborate on these initiatives,” says Rich Naser, USD Research Park president “We have a shared vision to foster innovation to create new high-skill, high-wage opportunities for the current and future generations in our state ”

The USD Research Park has aligned itself w ith the South Dakota Technolog y Business Center, a Sioux Falls technology business incubator, to jumpstart park operations and tackle these key activities. For 10 years the SDTBC has helped companies launch and g row in Sioux Fal ls through programs like its business accelerator and by providing specialized space, flexible lease terms and technology services. The relationship between the USD Research Park and the SDTBC will enhance both organizations’ ability to support innovation-driven economic development in the region

The USD Research Park has built strong local partnerships with the city, Forward Sioux Falls and the university. Both parks also have a strong collaborative relationship with the Board of Regents

The Research Park at SDSU discussed the importance of the local partnership that it has with SDSU, SDSU Foundation, the city, county, state officials, and the local economic development corporation. The park has worked hard in its development of the Innovation Center This community incubator is a similar model to the SDTBC. The Innovation Center has also been an essential tool used to recruit mature businesses into the park It provides space for these PB

Dwaine Chapel Executive Director Research Park at SDSU