As a subsidiary of the Virginia Tech Foundation, the Virginia Tech Corporate Research Center's mission is to expand a prestigious research park designed for private companies, while advancing Virginia Tech's teaching, research, and outreach missions. During the last year, the tenants at the CRC directly funded $ 1.2 million of sponsored research at the university.

Companies locate research divisions at the CRC for many reasons, including the opportunity to leverage the expertise, research strengths, and facilities of the university and to potentially reduce costs by using high-quality, very capable student labor. The CRC is also considered an attractive location because of the quality of work and home life that the Southwest Virginia region affords.

The CRC offers its tenant companies a comprehensive business assistance program, a modern telecommunications infrastructure, a financial assistance package, training opportunities, and many benefits that result from the CRC's affiliation with Virginia Tech.

Many individuals seek employment with companies at the CRC because of the emphasis on the quality of work life. The CRC offers numerous recreational opportunities, such as volleyball and basketball courts, hiking trails, and bike lanes and trails. Plans are currently underway to add a restaurant and a fitness center.

The CRC continued to expand during the past year. More than 85 separate organizations, 85 percent of which are private companies, now reside at the CRC, employing more than 1,250 people. With the completion of Research Building XII, the park currently has 12 buildings containing 380,000 square feet of office and laboratory space. Currently under development is the Center for Transportation Research Building, a 30,000-square-foot research facility.

The CRC showed its ability to attract companies from around the world when Pharming Healthcare Inc., a Dutch company, recently made a commitment to locate a $16-million protein research and purification facility at the CRC. Construction on this project is scheduled to begin in 2000.

The CRC was recognized for its outstanding achievements this year when it was named "Best Practice in Technology Transfer and Research Centers" by the National Council for Urban Economic Development. Research centers in eight states from Georgia to Pennsylvania were considered for the award.