COLLEGE PARK, Md. - Changes in federal policy can increase the effectiveness of a key national asset in job creation: university-based research parks and technology incubators, according to U.S. Senate testimony today by Brian Darmody, president of the Association of University Research Parks and a University of Maryland associate vice president.
"We can harness our existing research and development infrastructure to create new jobs, new opportunities, and new companies with administrative reforms and relatively modest federal direct investments," Darmody told the Senate Committee on Commerce, Science and Transportation.
In prepared testimony, Darmody recommended a series of actions, including loans, tax-free financing and more flexible government procedures for commercializing technology developed with federal support.
A complete transcript of his prepared remarks follows below.
Darmody and the University of Maryland have taken a leadership role in developing Maryland's largest research park and technology incubators, creating significant economic impact.