FOR IMMEDIATE RELEASE March 15, 2011
For more information please contact: SCRA Micki Howard 843.760.3329 office 843.697.9226 mobile micki.howard@scra.org
SCRA Completes Legislative Mandates Certificate of Occupancy Received for Duke Energy Innovation Center
Charleston, SC – March 15, 2011 – SCRA today announced the completion of all 34 legislative mandates as outlined in The SC Innovation Centers Act of 2005 and The SC Industry Partners Act of 2006. SCRA recently received the Certificate of Occupancy Approval for the third Innovation Center, built in partnership with Duke Energy and Clemson University, in Anderson, SC. The Advanced Materials Division of ATI, an SCRA affiliate, moved into the facility on Thursday, March 10.
SCRA was chartered by the State over 27 years ago as a non-stock, tax-exempt corporation. At its establishment, the State capitalized SCRA with approximately $500,000 and 1,400 acres of undeveloped land in order to develop a technology-based Knowledge Economy in South Carolina. Since that time, SCRA has generated its own revenues, contributed over $13 billion to the state’s economy and helped create over 15,000 technology-related jobs in South Carolina.
The SC Innovation Centers and Industry Partners Acts required SCRA and its affiliates to take a leadership role in South Carolina’s Knowledge Economy development, by funding and deploying seed capital in support services for Knowledge Economy startups and by providing 3 facilities to house and equip those startups. Today, the branded identity of those SCRA initiatives, SC Launch, has been recognized regionally, nationally and internationally for leadership in entrepreneurial support and technology-based economic development.
Since its inception by SCRA in 2006, and with initial funding of $12 million in SCRA earnings, SC Launch has supported and funded 188 companies in SC, helped draw 11 landing parties to the state, provided business services to 230 early stage companies in SC through a powerful Resource Network and helped position emerging South Carolina companies to secure more than $104 million in follow-on funding from angel, venture and other private capital sources.
The creation of three new SCRA-funded Innovation Centers augments the SC Launch program’s efforts by providing homes for early-stage companies. SCRA opened its Charleston Innovation Center in December, 2009 and the Columbia Innovation Center in August, 2010.
“In fulfilling these mandates, we have performed our duty to South Carolina on a business-like footing, and we have performed at high levels of visibility and achievement,” said SCRA CEO Bill Mahoney. “With the opening of the third Innovation Center, SCRA successfully completes the required deliverables and continues to execute all ongoing program requirements as defined by law. SCRA has accomplished the tasks handed to us from our Legislature, and we will continue to develop and support programs and companies that accomplish our mission to offer economic benefits for South Carolina and further our Knowledge Economy.”
About SCRA http://www.scra.org
SCRA is a global leader in applied research and commercialization services with its headquarters in South Carolina. SCRA has a dual mission:
In support of both missions, SCRA builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced, high-tech manufacturing shops.