To boost Minnesota’s economy and provide space for the University’s expanding technologies, discussions have begun concerning a new technology park and business incubator.
The park, designed by the University and Minnesota Community Development Agency, would create a place for University research scientists and technology companies to conglomerate.
University President Mark Yudof mentioned the project Wednesday in his speech at the Summit on Minnesota’s Economy.
The proposed 13-acre site would be built adjacent to University property on the East Bank, offering developing technology companies easy access to University researchers.
“University inventions are generally not developed far enough to be a product,” said Michael Moore, University director of patents and technology marketing. “And so companies that start and then develop their own technology need places to do that in proximity to the University and the University people are advantageous to them.”
“It is a positive step, there’s no question about it,” he said.
Moore, who is not involved in the project, said the proposed plan is in early developmental stages.
The technology park, which may cost between $25 million and $37 million, will be paid for by both private and taxpayer dollars. Yet, more than 200 new jobs could be created from the developing technology companies.

— The Associated Press contributed to this report.

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