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Understanding Research, Science and Technology Parks: Global Best Practices, Report of a Symposium
tions, providing assistance in streamlining government approvals and systems for loans and loan guarantees. Fourth, parks usually provide tax incentives, generally waiving them completely during the early years when capital expenditures are high.
NEW LEGISLATION ON S&T PARKS
In many countries, the success of parks depends heavily on the participation and commitment of government at every level. To increase this commitment at the federal level in the United States, the senator introduced the Science Park Administration Act in 2004 to create mechanisms for more effective science parks. He reintroduced the bill in 2005, joined by Senator Bunning of Kentucky, and in the present Congress, Senator Pryor of Arkansas has taken the lead, with Senator Bingaman as co-sponsor.
“Many countries have been able to use the mechanism of S&T parks to greatly advance their technological capabilities,” concluded Senator Bingaman. “We have not given it nearly the emphasis of other countries. I would like to see the federal government provide more assistance to states that want to make research parks a priority.”