University of Iowa Research Park Budget Narrative

State Appropriation $78,515

Established by the University in 1989, the Park is building a nucleus of businesses in Iowa that are drawn by the strengths of the University. The labor shed for over 1,800 employees of laboratories and companies affiliated with the Park, the BioVentures Center and the Technology Innovation Center. This is in keeping with the UI's strategic plan for engagement with external constituencies and participation in Iowa's economic growth. Current corporate tenants on the park include LMS North, a Siemens Business, The Stanley Group, General Dynamics, Integrated DNA Technologies, Inc. Bioinformatics and Research Divisions, Ruffalo Noel-Levitz, The Brighton Group, Leepfrog Technologies, Exemplar, ConnectFive, VIDA Diagnostics, Behavioral Diagnostics, LLC, Build To Suite, Inc. and MediRevv. A total of 42 companies are currently located on the Park.

The State-funded laboratory of the Center for Biocatalysis and Bioprocessing (CBB) is located on the Park as are human health and medicine laboratories and the National Advanced Driving Simulator, a major, fully operational co-venture with the U.S. Department of Transportation. Also a state-of-the art, 16,000 sq. ft. Hydraulics Wave Basin facility is located on the Park. The College of Public Health also maintains a research presence on the Park. The analytical method development and drug stability testing unit of the University of Iowa Pharmaceuticals facility, a unit of the College of Pharmacy, is also at the Research Park, as well as the State’s Hygienic Laboratory.  The Regional STEM Education Center is a joint collaboration between the University of Iowa, Kirkwood community college and School Districts from around the region. The new center will link the STEM assets of K-12, Community College and UI to strengthen K-12 science and math education opened in the fall 2015.

MediRevv is a healthcare revenue cycle management (RCM) company specializing in helping hospitals, health systems, academic medical centers and physician groups improve their cash flow and grow their revenue. Renowned for its highly educated workforce, MediRevv currently employs approximately 300 employees.  MediRevv originally built their first building (18,000 sf) on the UI Research Park in the fall of 2012, they expanded to a 2nd building (26,000 sf) in 2014.

FY 2018 funding will partially support the essential operating expenses for the Research Park. The balance of the Research Park’s support comes from Park income. Expenses include a variety of professional services (e.g., engineering, landscape architecture and legal), marketing, signage and support for University staff engaged in the project, operation of the Park office, and preparation and maintenance of common areas within the park. For FY 2018, the current level of funding will not support fully the delivery of essential services and Park amenities. Additional funding must be identified for the Park to maintain and enhance the services and amenities delivered to affiliates and enable future growth.