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Home > Articles By Month > Business Report February 2007
New Center Advances Virginia's Research Climate
SRI International's new research facility in Virginia will eventually create more than 100 new high-paying jobs and open the door to future R&D expansions in the state.
By Michelle Janowitz
Virginia
will be adding another facility to its R&D stable now that SRI International-an
independent, nonprofit research institute-has decided to establish
a new Center for Advanced Drug Research (called CADRE) in the Rockingham
Center for Research and Technology in Rockingham County, VA. It
is anticipated that by the end of the first 10 years of operation,
the project will create more than 100 new jobs with an average annual
salary of $85,000.
"SRI is growing strategically by locating near its clients and talented professionals," says Curtis Carlson, Ph.D., president and CEO, SRI. "The Shenandoah Valley offers SRI operational support, collaboration with academic institutions, proximity to the Washington, DC metropolitan area, and a high quality of life. A new center focused on advancing the state-of-the-art in drug research will enhance our efforts to improve the productivity of the pharmaceutical industry, help our nation respond to bio-threats, and develop life-saving treatments for neglected and orphan diseases."
The Virginia Economic Development Partnership worked with the Shenandoah Valley Partnership, Rockingham County, the city of Harrisonburg, and James Madison University to secure the project for Virginia; the Commonwealth appropriated $3 million in fiscal year 2006 to initiate the project. Governor Timothy Kaine will submit a funding request for $12 million of the remaining $19 million commitment to SRI for General Assembly approval in the 2008 budget.
CADRE will partner with James Madison University and other Virginia institutions in its research efforts. SRI also plans to eventually add other high-technology programs in areas such as homeland security, engineering, nanotechnology, energy, information technology, and education at this site.
Virginia Fast Facts
- Population (2005): 7,567,465
- Largest Cities (2005): Virginia Beach, 438,415; Norfolk, 231,954; Chesapeake, 218,968; Arlington, 195,965; Richmond, 193,777
- Targeted Industries: Food processing, chemicals, pharmaceuticals, plastics/polymers, IT, finance and insurance, biotechnology, nanotechnology, R&D, energy, automotive, aerospace, global logistics
- Key Incentives: Governor's Opportunity Fund, workforce services, Virginia Investment Partnership Grant fund
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