University of Connecticut Research and Technology Park, Storrs, CT

 

University of Connecticut Research and Technology Park, Storrs, CT.  The University of Connecticut-Storrs sought an experienced consulting firm to lead the feasibility analysis and develop an implementation strategy for a research park project to be located on UConn land, east of town.  Mr. George directed the work of his firm to assess the research park market, review the financial costs and benefits and craft the implementation strategy.  Key components of the work included:

–          Identification of the institutional and total technology resources

–          Calculate the likely annual and total space absorption in the Park

–          Recommend a strategy to fully involve the university and other institutions as anchors for the strategy

–          Best Practice analysis of eleven (11) comparable research parks

–          Conduct a detailed economic and fiscal impact analysis and prepare a step by step strategy carry out feasibility analysis of a momentum building park technology park project

–          Analysis of the funding needs and potential sources to cover the funding gap

–          Recommendations for the optimum organizational approach to carry out the effort

 

Recommendations included creating a non-profit entity to manage the research park effort and allow for a flexible development scenario and a development scenario that will allow for the Entity to develop building product, lease sites to private developers or the universities to building non-academic research buildings.  Over 30 comparable university parks were identified and researched.  Market forecasts were prepared and organizational and implementation strategies were recommended. The strategy is moving well with the implementing organization in place and the University is committed to developing the first building of the research park.