The idea came from the Valley Prosperity Partnership. The money would come from the earnings from the state’s Legacy Fund.
The Partnership had originally proposed $100 million for those grants. But the main sponsor -- Sen. Ron Sorvaag (R-Fargo) said with all the demands on those Legacy Fund proceeds, $45 million seemed more do-able.
"So, this will be a significant and predictable investment in the future of North Dakota," Sorvaag said at a Capitol news conference. "This will help bring us to the 21st Century, and it will provide opprtunities for a skilled workforce."
NDSU president Dean Bresciani said North Dakota has two top research universities, but does not provide dollars directed toward research. He told reporters when the Partnership approached him about this idea, he was excited.
"I saw the potential forn the state's two research universities to contribute far more to the state's economy than they have ever had the capacity to do," Bresciani said. "What they've accomplished is commendable, if not outstanding. But what we could contribute to the state of North Dakota is nothing short of exciting."
The bill is now pending in the Senate Appropriations Committee.