Research Park Corp. adopts budget
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The Research Park Corp., which operates the Louisiana Technology Park on Florida Boulevard and is a part-owner of the next-door Bon Carré Business Center, adopted a 2010 budget today that’s about 4 percent bigger than projected 2009 year-end numbers.
In 2010, the research park’s $1.765 million budget will be 3.6 percent more than estimates of $1.703 million for 2009’s final budget. The state-chartered entity’s chief funding source — slightly more than 1 percent of the city-parish lodging tax — is forecast to fall from $1.34 million in 2009 to $1.14 million next year, a drop of about 15 percent.
That’s a conservative estimate based on declining lodging revenues in recent months, said Stephen Loy, interim president of the state-chartered nonprofit corporation. The research park’s key function is operating a more than 230,000-square-foot technology incubator that includes 14 tenants and more than 100 workers, along with funding $907,000 in annual computer data services for the technology park and the business center.
Research Park projects receiving $270,000 again this year in dividends from its ownership stake in Bon Carré. It owns slightly less than a quarter of the 1 million-square-foot business center controlled by Commercial Properties Realty Trust, the for-profit affiliate of the Baton Rouge Area Foundation.
The budget also includes $200,000 for a potential chief executive officer, a position that hasn’t been filled since it was held by former CEO and current board director Eddie Ashworth. That leadership position could be filled early next year, depending on the outcome of a regional innovation study commissioned by the Baton Rouge Area Chamber, which is examining how incubators and research parks in the region might collaborate better.
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