Regional
(2009-10-22)
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FORT COLLINS, CO
(KUNC) -
Colorado State University President Tony Frank and University of Colorado at Boulder Chancellor Phil DiStefano teamed up today to communicate the role their institutions play bringing research dollars into the state. This budgetary year the schools brought in a combined $652 million dollars in research dollars and grants. Tony Frank says the money has a multiplier effect on the economy.
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"I think a simple rule of thumb is to look at those research dollars coming in multiply that by 10," he says. "That's the economic impact within our communities and the state of Colorado."
CSU's largest grant contributor this year came from the United States Department of Agriculture, while NASA wrote the largest check for CU.
Financial Woes
Research money may be fueling new projects and innovation, but both schools are dealing with declining state funding. Chancellor DiStefano says research dollars can't be used for general operating expenses.
"We can't use those dollars to pay for an English teacher or a math professor," he says. "Those dollars are restricted for the research that we do."
Both schools are using stimulus money to make up for the loss of state dollars, and will do so next year. But that source dries up in 2011. For now, Both Frank and DiStefano are focused on building their image as economic drivers for the state. It's a message aimed at private donors and undoubtedly the state legislature, which takes up the funding issue again in January.
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