Salt Lake Chamber President and CEO Lane Beattie reaffirmed the Chamber’s support for the Utah Science Technology and Research initiative (USTAR) at a news conference at the State Capitol today.

“Business leaders understand the difference between spending and investing,” said Beattie. “Money allocated for USTAR is an investment and it is a great investment. This initiative covers three top Chamber priorities – education, jobs and economic development – and positions Utah has a leader in the knowledge economy.”

This year, the Chamber has called on the Legislature to restore the $6 million of USTAR investment cut over the past three years, and to increase USTAR’s ongoing research allocation by $10 million. More than 40 prominent Utah business leaders have signed on to an effort to restore and increase USTAR funding, which has received 28 percent in funding cuts since fiscal year 2007.

Collaboration between higher education, entrepreneurs and industry have resulted in new start-up companies and job creation across the state. Now is a time of great opportunity as USTAR has excellent momentum, is gaining national reputation. Both Idaho and Nevada are modeling programs after USTAR.

Business leaders also understand when to buy and while other states’ programs are being underfunded, this is a “buyers” market for world-class research talent.

Following the news conference, USTAR researchers and partners showcased their successes in a dynamic display in the Capitol Rotunda. Eight USTAR research teams and six commercialization projects demonstrated the state’s most exciting emerging technologies, all of which are or have been supported by USTAR funding.