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Sometimes it takes money to make money.
Utah lawmakers seemed to grasp that principle in 2006 when they took a calculated risk and partially funded USTAR - the Utah Science, Technology and Research Initiative.
They appropriated $15 million to recruit star academic talent, $4 million for a state-wide technology outreach program, and $160 million for state of the art research facilities at the University of Utah and Utah State University.
The idea was to place Utah at the cutting edge of the next generation of high tech innovations - to target high-potential research projects, and develop and nurture Utah's burgeoning knowledge economy in order to create homegrown companies that will provide high-paying jobs.
So far, so good!
Eleven new research teams now are working at the two universities. 15 so-called "All Star" innovators have been hired. They've brought with them millions of dollars in research funding to Utah. Already, new companies have been formed and patents applied for.
USTAR is beginning to pay dividends.
The initial investment, though, fell short of what was envisioned, as lawmakers took a more modest approach to see how it would work. In KSL's view, it is working well. Based on the initiative's success, we urge lawmakers to take the plunge and more fully fund USTAR.
