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March 12th, 2007
Five years ago, the General Assembly created a program designed to attract to South Carolina the world's most talented researchers — those who are, in fact, working to create the superstar technologies of tomorrow. This visionary initiative, the Centers of Economic Excellence Program (also known as endowed chairs) leverages state and private funds along with university-based research to drive economic growth.
To date, the program has brought 13 world-class scientists or "endowed chairs" to our state's universities. It has also established 30 Research Centers of Economic Excellence in areas such as nanotechnology, health sciences, future fuels, energy alternatives, automotive engineering and advanced fibers. These centers house research in targeted industries with the greatest promise to create high-skill, high-paying jobs. State funds for the program come from S.C. lottery proceeds and must be matched dollar-for-dollar with non-state monies from corporations, foundations or private donors. This model has created a magnet for private-sector investment in South Carolina.
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