U.S. Sens. Harry Reid and John Ensign have announced proposed legislation to spur research and economic development in Southern Nevada by encouraging the build-out of UNLV's 115-acre technology park.
Their bill (S. 2085) would allow the University of Nevada, Las Vegas to fully develop its research park by reinvesting resources from leases and other revenue sources generated at the park. By expanding its resources, the UNLV will be better able to carry out its research mission.
In 2002, 115 acres of McCarran International Airport land was conveyed under a provision of the Clark County Conservation of Public Land and Natural Resources Act of 2002 to the UNLV Research Foundation for the creation of the Harry Reid UNLV Research and Technology Park.
The property is located in the southwest part of the Las Vegas Valley near the I-215 beltway at the intersection of Sunset Road and Durango Drive.
"The University of Nevada, Las Vegas is at the center of a developing high-tech economy in Southern Nevada," Reid said. "This bill will help UNLV's research park stimulate research and jobs for Nevadans."
Noting that thousands of people are moving to Nevada every month, Reid said Southern Nevada must continue to expand its research capacity if it is to keep up with this growth.
"This bill will enable the UNLV Research Foundation to generate the necessary funding sources to pay for development of the research and technology park," said Ensign, a member of the Health, Education, Labor, and Pensions Committee.
"Once developed, the research park will greatly enhance UNLV's research capabilities and contribute significantly to economic development and diversification in Southern Nevada," UNLV President Carol C. Harter said. "In other parts of the country, research parks have become magnets for high-tech companies. The legislation introduced by Senators Reid and Ensign will make it possible for us to begin development of what I am confident will become an extremely valuable asset for Southern Nevada. We are very grateful for their leadership on this issue."
The statute that enabled UNLV to secure the property for the research park required that a significant amount of the proceeds of any lease, sale, or conveyance of any portion of the property go to purposes not related to science and technology development in Southern Nevada.
The new legislation proposed by Reid and Ensign would remove that restriction, thus enabling UNLV to fund infrastructure and other needs as the park is developed.
