Governor wants to improve state's economic, research edge
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Economic times are tough, but Gov. Brad Henry wants legislators to find a funding source to pump money into a fund to stimulate research projects, which eventually would stimulate the state’s economy.
Despite legislators facing a budget shortfall estimated at $600 million for the 2010 fiscal year compared with this fiscal year, the governor is holding a state Capitol news conference today to challenge legislators to find a permanent funding source for the state’s research endowment fund. He’ll make a suggestion where money can be tapped for the fund.
The endowment generates money to help fund cutting-edge research projects across the state. It was recommended by the Economic Development Generating Excellence task force that Henry appointed in 2003 – the last time the state experienced an economic slowdown.
The EDGE panel of public and private sector leaders recommended the establishment of a $1 billion endowment to help boost research projects in Oklahoma. So far, legislators have deposited $150 million in the fund.
- Michael McNutt, Capitol Bureau
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