U.S. Senators Lamar Alexander (R-Tenn.) and Bob Corker (R-Tenn.) today announced that the FY2010 Financial Services Appropriations bill, which was approved by the Senate Appropriations Committee today, includes funding for an economic development initiative in Tennessee. Having been approved by the Senate Appropriations Committee, the bill must now be considered by the full Senate.
"I'm glad to see this funding coming to the Oak Ridge Corridor to help bring in new businesses and create more Tennessee jobs," said Alexander, a member of the Senate Appropriations Committee. "This new research and development center will help keep Tennessee and the country on the forefront of global competitiveness."
"The Pellissippi Research Centre will leverage the outstanding resources at UT and ORNL to attract private investment and generate economic growth in the community," Corker said. "This initiative reinforces the leading role Tennessee is playing in advanced scientific research that is helping to create the jobs of the 21st century so we can maintain America's competitive edge."
Tennessee funding in the bill includes:
$750,000 for the Pellissippi Research Centre on the Oak Ridge Corridor. The purpose of the Pellissippi Centre is to establish a research and development (R&D) campus strategically located between the University of Tennessee and Oak Ridge National Lab (ORNL), which is a federal facility whose mandate from the U.S. Dept of Energy is to advance scientific discovery for the benefit of the American economy. The Pellissippi Centre will enable private sector development of new products and services based on basic scientific research at ORNL and UT.