Writer: Justin Bannister, 575-646-5981, firstname.lastname@example.org
Today, the New Mexico State University Board of Regents approved a merger between the NMSU Research Park Corporation and Arrowhead Center.
"This streamlines two of the university's important economic development programs," said Garrey Carruthers, NMSU College of Business dean and vice president for economic development.
Carruthers said the merger will allow the university to pursue public and private partnerships with companies interested in coming on campus to employ students, work with faculty and develop intellectual property.
As part of the agreement, the university will lease 170 acres of land at the Las Cruces campus as well as 27 acres adjacent to NMSU Carlsbad to Arrowhead Center for development.
Arrowhead Center is a non-profit corporation owned by NMSU specializing in economic development. Its mission is to promote the creation and expansion of small businesses in New Mexico.
"A lot of credit needs to go to the Board of Regents for their efforts, as well as to Kevin Boberg and others for their tireless work in this area," said Carruthers.
"This move really makes us enter work more efficiently while ensuring the campus grows in a way that takes advantage of its full potential," Regent Steve Anaya said.
Kevin Boberg, associate dean of the NMSU College of Business and CEO of Arrowhead Center said the agreement will help the university take advantage of a major asset, underdeveloped land between two major interstate highways.
"Building out the park will provide learning and earning opportunities for students," said Boberg.
"Faculty members will have the opportunity to work side by side with colleagues in industry. Residents will find new employment opportunities," he said.
Boberg said plans for the New Mexico Department of Transportation to modify Interstates 10 and 25, creating a new interchange at the park's front door, will allow the university to compete for major new research partners such as the military's Future Combat Systems, as well as the commercial space industry, digital media, and other economic development opportunities with substantial research and development components.
"We have that acreage, where the interstates connect, where the university should be showcasing economic development involving students, business and research," said Anaya.
The land in Carlsbad is already home to the Carlsbad Environmental Monitoring and Research Center.
"We have some future economic development opportunities there as well," said Boberg. He and others plan to travel to Carlsbad next month.
The Board of Regents also approved adding the university's senior vice president for planning, physical resources and university relations, currently Ben Woods, to a position of director on the Arrowhead Board. Woods oversees all university real estate transactions, and will play an important role in development plans.
© 2013 New Mexico State University Board of Regents
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