CRC Expansion Continues

The Virginia Tech Corporate Research Center (CRC), a subsidiary of the Virginia Tech Foundation, continued its steady growth during the year. More than 105 research and development businesses and research centers are now located at the park. The total employment level of the park now exceeds 1,500 people.

The mission of the CRC is to create a prestigious research park while advancing Virginia Tech's teaching, research, and outreach missions. During the past year, several student groups worked with companies at the park as part of their studies at Virginia Tech. CRC tenant companies sponsored almost $1 million in research at the university during the year. Faculty members regularly have opportunities to consult with companies at the park, enabling them to remain on the cutting edge of new technology.

With the completion of the Virginia Tech Transportation Institute Building, the park grew to 13 buildings containing more than 400,000 square feet of modern office and lab space. During the year, the CRC board authorized the planning and design of Research Buildings XIV and XV. The two new buildings, scheduled for completion in the fall of 2001, will expand the CRC to over 500,000 square feet of space available to support research and entrepreneurship in the Virginia Tech community.

With more room to expand, the CRC promises to provide the infrastructure for continued growth of high-tech, high-quality companies and jobs in the region. This growth will also support the university's research initiatives as it seeks to become ranked among the top 30 research institutions in America.