FOR IMMEDIATE RELEASE
December 14, 2006

Kevin Hall
www.governor.virginia.gov
(804) 225-4260


Christian Munson
CRT/t for SRI International
(804) 212-4949
Christie Miller
VEDP
(804) 545-5805
GOVERNOR KAINE ANNOUNCES MAJOR RESEARCH INSTITUTE FOR VIRGINIA
-SRI International will transform state’s research and development efforts -


RICHMOND - Governor Timothy M. Kaine today announced that SRI International, an independent, nonprofit research institute, will establish its new Center for Advanced Drug Research in the Rockingham Center for Research and Technology in Rockingham County.

SRI’s Center for Advanced Drug Research, called CADRE, will partner with James Madison University and other Virginia institutions in its research efforts. SRI also plans to add other high-technology programs in areas such as homeland security, engineering, nanotechnology, energy, information technology and education at this site. By the end of the first ten years of operation, the project will create more than 100 new jobs with an average annual compensation of $85,000.

“The establishment of SRI International’s Center for Advanced Drug Research in the Shenandoah Valley is an enormous win for Virginia,” said Governor Kaine. “This announcement represents a significant step toward supporting technology, research and development to diversify Virginia’s economy, a goal of my economic development strategic plan. It also provides a significant opportunity to leverage the world-class research currently being conducted in Virginia's universities. As a nonprofit organization, SRI needs financial assistance to start up its research efforts in the Shenandoah Valley. I applaud the House and Senate leadership for their enthusiastic support of this innovative project for Virginia.”

The mission of SRI International, which was founded in 1946 as Stanford Research Institute, is discovery and the application of science and technology for knowledge, commerce, prosperity and peace. SRI conducts R&D funded by government agencies, commercial businesses, private foundations, and other organizations. SRI also brings its innovations to the marketplace by licensing its intellectual property and by creating new ventures. Among its many innovations, SRI has a legacy of important work in the biosciences that includes research for the National Cancer Institute and a malaria treatment that has saved millions of lives. SRI, based in Menlo Park, California, has a facility in Arlington, Virginia, and in other locations throughout the United States and Asia.

“SRI is growing strategically by locating near its clients and talented professionals,” said Curtis Carlson, Ph.D., president and CEO of SRI International. “The Shenandoah Valley offers SRI operational support, collaboration with academic institutions, proximity to the Washington, D.C. metropolitan area, and a high quality of life. A new center focused on advancing the state-of-the-art in drug research will enhance our efforts to improve the productivity of the pharmaceutical industry, help our nation respond to bio-threats, and develop life-saving treatments for neglected and orphan diseases.”

The Virginia Economic Development Partnership worked with the Shenandoah Valley Partnership, Rockingham County, the City of Harrisonburg and James Madison University to prepare the state’s proposal to secure the project for Virginia. The Commonwealth appropriated $3 million in fiscal year 2006 to initiate the project. Governor Kaine will submit a funding request for $12 million of the remaining $19 million commitment to SRI for General Assembly approval in the fiscal year 2008 budget.

“Governor Kaine and the Virginia Economic Development Partnership worked together with members of the General Assembly’s money committees to develop a strategy to bring this important project to Virginia,” said Jeffrey M. Anderson, VEDP Executive Director. “The Shenandoah Valley’s diversity, labor force and infrastructure are a good fit for SRI and we’re excited about the opportunities this project offers the entire Commonwealth.”

“The Center for Advanced Drug Research is exactly the kind of economic development we are seeking in Virginia,” said Senator John Chichester. “SRI’s decision to expand in Virginia is a strong affirmation of the talents of our workforce, the quality of our colleges and universities and the competitiveness of Virginia as a location for research and development.”

“Fostering an environment in Virginia that’s even more conducive to research is important because R&D expands the base of human knowledge, which is arguably the most important form of capital in the Information Age,” said House of Delegates Speaker William J. Howell. “Having a world-leading company like SRI International choose to expand in Virginia is a great win for us and yet another vote of confidence in our forward-looking efforts to spread more research, technology and job opportunities throughout our Commonwealth. Legislative leaders look forward to continue working with Administration officials and our valued SRI partners during the 2007 Session to develop an incentives package that is performance driven and fiscally prudent.”

“It’s a tremendous asset for the Commonwealth to have such an outstanding research facility locate here in Virginia,” said Delegate Vincent F. Callahan Jr., Chairman of the House Appropriations Committee. “SRI’s presence will attract research funding that will benefit our public universities as well as Virginia’s public and private research and technology efforts.”

“I’m pleased to support this ground-breaking project,” said Senator Emmett W. Hanger, Jr. “The collaboration leading up to this announcement has been impressive and the continuing partnership that will result between SRI and Virginia’s institutions of higher education is sure to transform our economy and elevate Virginia’s standing in the research and development field.”

“Projects of this magnitude don’t come along every day,” said Delegate M. Kirkland Cox. “This announcement will provide unprecedented economic benefit statewide and I’m proud to be a part of it. I look forward to SRI’s future success in Virginia.”

“Winning this project is important for the Shenandoah Valley and for the Commonwealth as a whole,” said Delegate R. Steven Landes. “Research and development is a crucial part of Virginia’s livelihood and I look forward to working in a bipartisan manner with Governor Kaine to ensure this project receives the General Assembly’s full support.”

“Rockingham County is pleased to partner with the Commonwealth, JMU and the City to bring SRI to Virginia and the Shenandoah Valley. SRI is a premier research institute, which will serve as the cornerstone in the County’s Center for Research and Technology on North Valley Pike,” said Board Chair Michael A. Breeden. “SRI-Shenandoah Valley will provide opportunities for top quality research positions for the Valley and the Commonwealth. Attracting SRI, with its 60-year history of successfully collaborating to create solutions that solve important world problems, will allow Virginia and the Valley to be a leader in research and development on the East Coast.”

“SRI locating in the Harrisonburg/Rockingham County metro area reaffirms what we already know, that this is a great place to work and live,” said Harrisonburg Mayor Rodney Eagle. “The City of Harrisonburg has worked hard to foster a friendly community for technology firms. The addition of SRI to this growing business sector affords new opportunities for our bright young university graduates to live and work in this region. This is a tremendous compliment to and opportunity for Harrisonburg/Rockingham, James Madison University, the Shenandoah Valley and Virginia.”

"This is a big win for Rockingham County, Harrisonburg, the Shenandoah Valley and the entire Commonwealth," said James Madison University President Dr. Linwood H. Rose. "Plus, Madison faculty and students - as well as faculty and students at other Virginia universities - will have the opportunity to participate in the world-class research of SRI."

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

© 2016 All rights reserved.