Somewhere, behind the tangle of vines and worn bricks of the 4-H Building, is a nearly $25 million central commons area for a major research campus -- but it was tough to see Wednesday through its foggy windows.
Not for University of Nebraska leaders.
"This is a front door to the Nebraska Innovation Campus, and what great potential there is for building and strengthening the innovation economy of Nebraska," said NU President James B. Milliken.
State and university leaders unveiled plans Wednesday to build and renovate four buildings at Innovation Campus, including the 4-H Building, representing about $80 million in public and private investments. Those plans mark the start of the first phase of development at the campus.
* $25 million from the state by way of the Legislature, which approved the investment as part of its two-year budget in May. Gov. Dave Heineman had requested the money.
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* $15 million the University of Nebraska-Lincoln plans to raise to match part of the state funding.
* $40 million that developer Woodbury Corp., managing partner of investors Nebraska Nova LLC, has promised as a match to the state's and university's investments.
The university plans to spend $10 million of the $25 million state investment on renovating the 4-H Building's east half. Woodbury expects to spend between $10 million and $15 million to renovate the 4-H Building's west half and construct a nearly 100,000-square-foot companion building next to the 4-H Building.
Set to be completed by April 2013, that companion building and the renovated 4-H Building will combine to complete a nearly 170,000-square-foot central commons area and anchor for Innovation Campus. The two buildings would provide space for university research, incubator businesses or translational research, convenience or retail, tenant offices and labs.
The 4-H Building was left at the site after the Nebraska State Fair moved to Grand Island and NU acquired the grounds for Innovation Campus in January 2010.
The university plans to spend $15 million of the state investment, as well as another $15 million that it hopes to raise from private philanthropy, on a new life sciences research center focused on food, fuel and water. When that match is completed, the university will construct a building valued at $30 million or more.
UNL Chancellor Harvey Perlman said he has heard from some potential donors, although he declined to offer names.
Zach Wiegert, manager of Nebraska Nova, also announced that if the university is successful in raising $15 million, his company would build an equal-sized life science building of nearly equal value that either would be part of the university's or adjacent to it.
"The result is four significant buildings that create the critical mass for the attraction of private-sector companies," Perlman said.
The announcement set in motion the Phase I construction plan, including site work and infrastructure development that is scheduled for completion in 2012.
"The state investment is doing what it was intended (to do)," Perlman said. "It is jump-starting Innovation Campus and leveraging state funds to produce private-sector investments. We are off to a good start, because the governor and the Legislature had confidence in this vision for Nebraska's future."
Innovation Campus will be a public-private sustainable research campus, designed to capitalize on research growth and the expertise of UNL faculty and to strengthen the economic potential of the state and university.
"This is one of the most ambitious and most significant projects on the horizon for Nebraska," Heineman said. "We want to grow and attract new technology-focused companies to our state. ... Accelerating the development of Innovation Campus is a critical part of our vision for Nebraska's future."
University consultants hired in 2009 estimated the economic impact of Innovation Campus could bring to the local and state economies annual new payroll of $267 million, including $149 million in direct annual payroll and $118 million in indirect payroll from new spin-off jobs. Planners are using a 25-year phased development approach.
Wiegert said the development corporation has had interest from future tenants.
"Because of the leadership and cooperation of the governor and the Legislature and the university, we are able today to move forward more quickly and to develop more space than we first thought possible," he said.
