The Arizona Board of Regents has approved the formation of Research Park Development Corp., a University of Arizona-run nonprofit that will oversee Arizona Biosciences Park and portions of the Science and Technology Park in Tucson.
Arizona Biosciences Park is a new development that will be located at South Kino Parkway and East 36th Street . It will include a 65-acre campus with high-tech research labs, offices, a hotel, and a conference center. The Critical Path Institute is expected to anchor the park.
The newly established corporation will also oversee the planned expansion of UA’s Science and Technology Park at 9000 S. Rita Road.
Molly Gilbert, park spokeswoman, told the Arizona Daily Star that when UA first bought the property from IBM Corp for $98 million in 1994, only two companies with 1,200 employees worked at the site. Today, 30 companies employ more than 7,000 people, and the park will now expand to include a hotel and conference center, a golf course, more office space and labs, and roads on 1,000 acres of the park.
For more information:
“Regents vote today on UA science park,” Arizona Daily Star, 03/10/2006
“Regents expand UA role in tech and biosciences,” Arizona Daily Star, 03/11/2006