Colorado State University president Larry Penley wants the state to help research universities come up with the matching money for federal grants.
Penley said Thursday that he would ask the legislature to set up a fund that state universities could dip into when they apply for grants that require matching money from the school.
The incentive for the state is that research at CSU and the University of Colorado drives the state’s economy by creating jobs and new businesses, Penley said.
“Research is a huge engine for economic development,” he said.
Lawmakers said the idea has merit but coming up with the money could be a challenge.
“My mind is whirling on where we can get the funds,” said Sen. Bob Bacon, D-Fort Collins. “It’s worth exploring.”
The senator said money for such a fund might have to come from the funds tagged for the state’s two major research universities so smaller colleges that wouldn’t take advantage of it are not punished.
Sen. Steve Johnson, R-Fort Collins, said the legislature’s priority is keeping tuition low and increasing the state stipend for students. But, he said, putting money into research also would have long-lasting benefits.
“If you talk to major business leaders in information technology or biotechnology, one of the things those companies look for when they locate to a state is how strong are the research universities,” Johnson said.
CU has researched the same idea but never asked the legislature to set up a fund because in “the past couple of years, there just haven’t been the funds to even consider something like this,” said university spokeswoman Michele McKinney. Several other states, including New York, have a similar fund, she said.
Penley did not specify an amount for the fund.
The CSU president also told the university’s board of governors that he will ask the legislature to fund the Colorado Water Resources Research Institute. The institute, one of four agencies the land-grant university operates for the state, is the only one that doesn’t receive direct state funding, Penley said.
Penley also will ask the legislature to increase funding for the three other agencies operated by CSU – the Cooperative Extension, the Colorado State Forest Service and the Agricultural Experiment Station.
Penley conceded it will be tough to sell his ideas to lawmakers.
“These require money,” he said.
Staff writer Jennifer Brown can be reached at 303-820-1593 or jenbrown@denverpost.com.
