The Missouri S&T’s Innovation Park holds the promise of hundreds of new jobs and millions of dollars in revenue for Rolla’s economy, but it will likely take a decade to get there.
That is what university officials are predicting as the initial building of the park is under construction.
“We have always estimated it would take 12-15 years to fully develop the park. Looking across the state and nation at similar university research parks, that is not unreasonable,” said Keith Strassner, director of Technology Transfer & Economic Development, in an e-mail.
Citing the growth of the Research Triangle Park in North Carolina, which was founded in 1959 and now has more than 130 research and development facilities housed there, S&T is looking at the future economic impact.
Expectations for the park have not been left in the modest category. Two years ago, the former Rolla Regional Economic Commission Director Elizabeth Bax predicted the park could produce 1,200 jobs and generate $1 billion in revenue.
Those figures, though, are based on a 2007 report from the Missouri Department of Economic Development and factor all the construction needed, according to Strassner.
A fully constructed park, Strassner estimated, could produce 650 to 700 permanent jobs.
With 700 jobs, the park could come close to filling the hole left by the closing of Briggs & Stratton Rolla Plant, which had more than 800 jobs at its peak.
