2007 Session

Budget Amendments - HB1650 (Member Request)

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Chief Patron: Hamilton
Hampton Roads Technology Council

Item 481 #319h

Item 481 #319h

First Year - FY2007 Second Year - FY2008
Nonstate Agencies
State Grants to Nonstate Entities-Nonstate Agencies FY2007 $0 FY2008 $400,000 GF

Page 515, line 5, strike "$7,510,000" and insert "$7,910,000".
Page 521, after line 61, insert:
"Hampton Roads Technology Council         $0     $400,000".

(This amendment provides $400,000 the second year from general fund for two small business incubators, $200,000 each, located in the Hampton Roads region. The City of Hampton and James City County have joined with the Hampton Roads Technology Council (HRTC) to operate technology incubators in order to promote and support pre-existing private sector industry growth. Moreover, the incubators are uniquely positioned in the HR region to support tech transfer and commercialization efforts from the regions university and federal research facilities.