Heinrich Introduces Bill To Spur Innovation, Boost Job Creation At Science Parks

Press Release

U.S. Representatives Martin Heinrich (NM-1) today introduced legislation to help construct and expand science parks. The Science Parks Research and Innovative New Technologies Act (SPRINT Act) would provide grants and loan guarantees for the development and construction of science parks to boost job creation and help spur innovation. Science parks seek to incubate businesses, encourage new startups, generate student interest in science and technology fields, and encourage relationships between universities and industry. Heinrich introduced the bill with Rep. Gabrielle Giffords (AZ-8).

"When world-class scientists and entrepreneurs put their minds together, anything is possible," said Rep. Heinrich. "Science parks leverage a region's existing competitive strengths and are a key component to becoming a nation of sustainable growth and quality jobs. Many of those jobs can be found at places like the Sandia Science & Technology Park in Albuquerque, which has 30 companies employing over 2,100 people in higher-skill, higher-wage jobs."

"This bill will spur innovation and help create the kind of high-paying, high-technology jobs we need to be competitive in the global economy," said Rep. Giffords. "Science parks are the best way to leverage the intellectual output of our universities so it can have a direct, positive impact on our economy and quality of life. Providing seed money to science parks represents a wise investment in our future."

The SPRINT Act would allow the Secretary of Commerce to award competitive grants up to $750,000 for the development of feasibility studies and plans for the construction of new or expansion of existing science parks. In total, $7.5 million would be authorized for these grants per year for a total of five years. Additionally, the bill would allow the Secretary of Commerce to guarantee up to 80 percent of loans for the construction of science parks. Finally, the bill would require the National Academy of Sciences to evaluate the program.

"Leveraging the enormous resources at our federal laboratories and universities to create jobs is a powerful economic development tool for our nation and science parks are the ideal places for that to happen," said Jackie Kerby Moore, executive director, Sandia Science & Technology Park. "We appreciate the leadership of Representatives Heinrich and Giffords in taking this legislation forward."

Science parks improve the economic base of a region and state. According to the Association of University Research Parks (AURP), science parks contribute over $31 billion to North America's economy annually. According to AURP, each research park job generates 2.57 jobs, which has already resulted in a total impact of more than 750,000 jobs nationwide.

"Research and science parks create the jobs of today and the jobs of the future through innovation," said Eileen Walker, chief executive officer, Association of University Research Parks. "Providing the place for universities and business to work together, and the support for technology startup companies to grow will help the U.S. to maintain its competitiveness in the 21st Century."

Senators Mark Pryor (D-AR) and Olympia Snowe (R-ME) have introduced a companion bill, S. 583, the Building a Stronger America Act, in the Senate.

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