USC to open economic development office in July

COLUMBIA, S.C. (AP) — The University of South Carolina will join other public colleges in the state when it opens an economic development office in July.

The State newspaper reported (http://bit.ly/Z7EzKF) that USC’s Office of Economic Engagement will broaden the school’s reach beyond academics. Other South Carolina public colleges with economic development offices include Clemson University and the College of Charleston.

School officials say the office will, among other things, manage USC’s Innovista research district, which debuted in 2005 with promises of four buildings filled with the latest technology and medical research along with businesses with highly paid workers.

But problems with developers and the economic downturn prevented progress on the private side of Innovista’s public-private partnership, and it became a sore spot with legislators who issued $70 million in bonds for the project.

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Information from: The State, http://www.thestate.com