The Register-Herald, Beckley, West Virginia

Local News

February 21, 2008

‘Bucks for brains’ gets panel approval

By Mannix Porterfield

CHARLESTON — Given a hearty recommendation by Marshall University President Stephen Kopp, a Senate panel Thursday endorsed the so-called “bucks for brains” idea of investing $50 million in a dual university research plan intended to create jobs.

The idea is to combine the expertise of both Marshall and West Virginia universities to undertake research that will lead to patents, in turn inspiring firms to produce and provide well-paying jobs in the state.

Kopp even suggested SB287 might resolve a conflict with the PROMISE Scholarship by opening up new avenues of employment and attract those scholars who have moved out of state.

“I think it’s so critical that we begin to work into the future and make investments in the future that will create new jobs,” Kopp told the Senate Finance Committee.

“It’s going to stimulate research.”

Already, he said, the bio-technology and bio-medical industry is one that is worth $7.2 billion in West Virginia, offering jobs that pay more than $20,000 above the average income.

“The important part of this bill is it’s an investment that is a perpetual investment in the future of the state,” he said.

“None of the trust fund dollars will be expended as part of this plan. They will be invested in the process from investments along with private gifts that are matched by the trust fund, and that is what fuels growth of this research base.”

Kopp referred to a new corporation being formed as an outgrowth of a patent that occurred at Marshall, which harnesses a micro-organism to manufacture products commercially viable and already in the marketplace.

The difference is that the compound can be provided in whatever amounts are needed by specific industries, he said.

“This is the first of what we think is going to be a series of these discoveries in advancing patents,” he said.

“By licensing patents, we create businesses that employ people in high-paying jobs. A lot of work going on at WVU that parallels this concept of breakthrough discoveries is leading to patents, leading to licenses, leading to new business development.”

Senate Economic Development Chairman Brooks McCabe, D-Kanawha, hailed the bill as perhaps the single most important one in this legislative session.

Sen. Vic Sprouse, R-Kanawha, wondered, however, if a different nickname could be found, other than “bucks for brains.”

“Is that the best name we could come up with?” he asked. “Please, let’s find a different name.”

Majority Leader Truman Chafin, D-Mingo, had a quick suggestion: “Democrats for Dollars.”

“That’s only for southern West Virginia,” Sprouse returned.

— E-mail: mannix@register-herald.com

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