West Virginia University Research Park
West Virginia University has opened the WVU Research Park to capitalize on its rapid emergence as a research university focused on driving knowledge-based economic development and advancing technology transfer and commercialization of its inventions.
Major research universities are economic engines that serve as magnets for high technology industries anxious to take advantage of the intellectual capital, facilities and culture associated with these institutions. Research parks developed around universities, in turn, provide significant stimulus to local and state economies.
The WVU Research Park located on Route 705, one-half mile from the impressive Robert C. Byrd Health Sciences Center in Morgantown, will build upon that vision by creating a unique environment to nurture collaborations and partnerships and cluster cutting-edge technology employers. The result will be economic progress built upon the shared strengths of higher education, government, the private sector and non-profit enterprises.
The first phase of development is complete featuring prepared building sites, roads and utility infrastructure. Architectural design is complete for the research park’s first building – a 66,000 sq. ft. structure that will include a 20,000 sq. ft. business incubator.
WVU Research Corporation envisions a Research Park that will:
- Aid in attracting high technology companies seeking to collaborate with a major research university
- Provide a location for businesses that will license WVU technologies and
- Serve as a location for spin-off companies based on technologies developed by WVU faculty and students.
The 10-year vision for the Park calls for a two-phase development of 88 acres of University property into single and multi-tenant buildings with more than 750,000 square feet of office and laboratory space surrounded by beautifully-landscaped grounds.
Upon completion, the park is projected to employ nearly 2,600 persons working at jobs paying an average of more than $50,000 a year – a jobs engine that will mean substantial economic impact on the West Virginia economy.
The WVU Research Park will further diversify the existing economic fabric of West Virginia and serve as a platform to promote technology-based economic development throughout the state.