SPI Insights

A partnership between the University of South Carolina, IBM and Fluor Corp. will result in the development of a technology research center on the USC campus. The center is hoped to help attract additional companies to the area as an “information destination,” according to USC President Harris Pastides.

The proposal is geared toward helping businesses save money while building workforce skills for technology jobs. The $144 million Innovista research campus has a goal of partnering university research with businesses. The city of Columbia is investing $350,000 toward the costs for two Innovista parking decks backed with bonds, issued by the city and Richland County. The city is expected to earn $150,000 in property tax revenue from the facility.

USC leaders have been working with IBM and Fluor and city of Columbia officials. A private developer is building a $25 million, five-story office tower on university property next to one of Innovista’s academic halls. IBM and Fluor will be tenants. USC will receive $72,600 a year in rent from the office building and 15 percent of its profit.

IBM will oversee USC’s computer systems as part of a 10-year, $70-million contract that starts in January. The company will also offer internships for USC students and research opportunities for faculty.

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