Gov. Brad Henry is asking state lawmakers to develop a permanent funding source for a planned $1 billion endowment to help fund research projects in Oklahoma.
Henry last week urged the Legislature to dedicate a revenue stream for the Economic Development Generating Excellence, or EDGE, fund. The Legislature voted to create the endowment in 2004, but only $150 million has been deposited so far. Interest from the fund is used to pay for research projects that attract capital and high paying jobs to the state.
Henry previously has suggested setting aside a portion of state investment earnings, gross production receipts or reserve fund interest earnings. Under his latest plan, designated funding would not begin flowing to the endowment until the state’s budget crisis is over.
You might like:
- Mary’s Gone Crackers Expands, Relocates HQ To Nevada
- SNAPSHOTS: 60 Seconds… with Dennis Davin, Secretary, PA DCED
- Industry Focus: Aerospace Sector Is Flying High Again
- Data Cowboys
- Leading FDI Experts Analyze Global Trends At LiveXchange
- Chicago Celebrates Technology Startup Hub Expansion, 700 New Tech Jobs
- Mitsubishi Heavy Industries HQ Moving To Texas
- Kansas City Launches “Smart City” Initiative
- Shopping Bag Manufacturer Creating 100 Jobs In Georgia
- Automotive Parts Supplier Expanding In Indiana
- Advanced Manufacturing Industry: Dynamic Advancements
- Michigan Hot Dog Maker To Expand, Hire 140 Workers
- Two-Way Street
- Salesforce To Grow Regional HQ, Add 800 Jobs In Indiana
- Foreign Direct Investment: On the Rebound?
- SATA Group Building New Plant In Texas
- Insitu To Open Commercial UAS Facility At MSU