Research Park, University of Illinois at Urbana-Champaign

Research Park at University of Illinois at Urbana-Champaign

Aerial View of the University of Illinois Research Park
Research Park at University of Illinois at Urbana-Champaign
60 Hazelwood Drive Champaign, Illinois, USA 61820
Information
Established	1999
Area	663,000 sq-ft
Companies	100+
Structures	14
Employees	1,500+
Student Interns	500+
Website	Official Site
University of Illinois at Urbana-Champaign

Research Park at the University of Illinois at Urbana-Champaign is a research park located in the southwest part of the University of Illinois at Urbana-Champaign campus in Champaign, Illinois. Research Park is a technology hub for startup companies and corporate research and development operations. Within Research Park there are more than 100 companies employing more than 1,700 people including students and full-time technology professionals.

Multinational and publicly traded corporations in the Research Park include: ADM, Abbott Laboratories, AbbVie, AB InBev, Ameren, Capital One, Caterpillar, CEB, Deere & Company, Dow AgroSciences, Dow Chemical, Grainger, Littelfuse, Raytheon, Riverbed, State Farm, and Yahoo.

Research Park is also home to over 50 startup companies that are commercializing technology. EnterpriseWorks, the Research Park’s 43,000-square-foot business incubator for early-stage tech firms, is operated by the University of Illinois to help launch successful startup companies.

Research Park gained the approval of the Board of Trustees in November 1999 and established its governance with the University of Illinois Research Park Limited Liability Company in March 2000. The Research Park opened its first building in 2001 and grew into a 200-acre technology hub for corporate research and development operations.

In 2003, the State of Illinois provided funding to build the EnterpriseWorks Incubator, a 43,000 square-foot business technology incubator for early-stage tech firms, and the first tenants moved in during early 2004. In May 2000, the University entered into a partnership with Fox/Atkins who now leases the land from the University and constructs customized buildings for Research Park's tenants. The company is responsible for transforming the land from fish ponds, agricultural fields, and livestock barns.

The next phase of development in the new master developer agreement is to add 160 acres of additional land east of the main Research Park area. The total operation in Research Park annually contributes $4.1 million in tax revenues to the state of Illinois. The total construction over 10 years contributed $7.2 million in state tax revenue.

The EnterpriseWorks Incubator provides a bridge between the research of the University and the commercialization of technology by university faculty, researchers, and students. The award-winning incubator provides free counseling services to technology entrepreneurs and facilities such as laboratories, offices, conference rooms, kitchen, and co-working space. The Entrepreneur-In-Residence program is a free service provided by Research Park which consists of 7 experience tech entrepreneurs who provide monthly consulting to new startup ventures and prospective entrepreneurs. Research Park and the EnterpriseWorks Incubator hold educational, training, social, and networking events to facilitate a community feel while providing a place where the newest startups have the opportunity to develop relationships with established national and international corporations.