Senate would give Perry $100 million for new fund
May 26, 2005
Senate would give Perry $100 million for new fund
Written by Associated Press, Associated Press
AUSTIN - Gov. Rick Perry would get up to $100 million over the next two years for his proposed technology fund under a spending bill approved Wednesday night by the Senate.
Perry has asked lawmakers for $300 million for the fund, which would be used to spur collaboration between businesses and universities.
In 2003, lawmakers agreed to Perry's proposal to create the $295 million Texas Enterprise Fund, which the governor has used to help seal business deals with companies bringing jobs to Texas.
Washington Mutual financial services, which recently announced plans to bring 4,200 jobs to San Antonio, would get $15 million from the enterprise fund if the deal goes through.
Perry's office has allocated about $235 million from the $295 million enterprise fund since it was created in 2003 to attract job development to Texas.
The new emerging technology fund would make Texas more competitive with other states such as California, New York or Florida, Perry has said.
The Senate bill called for the technology fund to be paid from extra money the state collects in its so-called "Rainy Day" fund. Senate Finance Committee Chairman Steve Ogden, R-Bryan, said early projections show that is likely to happen next year.
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