UM System Cuts Commitment to Enterprise Investment Program

6 years 5 months 2 weeks ago Thursday, June 30 2011 Jun 30, 2011 Thursday, June 30, 2011 2:34:00 PM CDT June 30, 2011 in News
By: Brian Johnson
loading

COLUMBIA - Residents reacted Thursday to the announcement that the UM system is cutting back on its Enterprise Investment Program prior to making any actual investments. Interim President Stephen Owens announced Wednesday he would reduce the fund next year by $2.18 million dollars. He made the decision in response to the governor's announcement of an additional $4.4 million dollar cut to the UM System's budget next year.

"The pain we are going to feel is not being felt yet because this is a new program," said Michael Brooks, the president of Regional Economic Development Inc., a local nonprofit that helps bring jobs and entrepreneurs to Columbia. "The program was one that we are viewing with great anticipation."

The funding to the program for the fiscal year ending Thursday remained the same at $5 million to invest. Jennifer Hollingshead, the director of marketing and public relations for the UM System, said the fund is expected to announce this year's recipients soon. She did not specify what "soon" means. The Enterprise Investment Program timeline web page says a second round decision for the applicants will be made by "June 31st," even though June has just 30 days

"It looks like we are slightly behind," said Hollingshead. "I think we are close."

"The likely effect of this cut will be felt in the form of fewer new businesses and new jobs created as a result of the program," said Owens in his e-mail announcing the cut.

"This is a bad message as we think about the impact to that research," said Brooks. "We really need as we go forward to find ways to support bringing those technologies out of the laboratories and into the market place."

More News

Grid
List
COLUMBIA - Power was restored to 1,922 Columbia customers, according to Columbia Water & Light. The outage affected customers... More >>
6 hours ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 10:35:00 PM CST December 17, 2017 in News
CAPE GIRARDEAU (AP) — A Cape Girardeau man will likely spend the rest of his life in prison for shooting... More >>
8 hours ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 8:00:30 PM CST December 17, 2017 in News
COLUMBIA - Three years after picking up a disc for the first time, Cynthia Riccotti is thriving in her quest... More >>
10 hours ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 6:25:00 PM CST December 17, 2017 in News
TIPTON - A family is trying to recover after losing everything in a house fire, and with help from the... More >>
11 hours ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 5:20:00 PM CST December 17, 2017 in News
BOONE COUNTY - A boil advisory is in affect for Water Supply District No. 10 in Boone County. According... More >>
11 hours ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 5:18:00 PM CST December 17, 2017 in News
CAMDEN COUNTY - A Kansas City woman has been arrested in connection with a fatal car crash in Camden County... More >>
11 hours ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 4:48:00 PM CST December 17, 2017 in News
KANSAS CITY (AP) — Area educators are opening up the topic of teen suicide for discussion after seeing deaths rise... More >>
12 hours ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 4:07:00 PM CST December 17, 2017 in News
JEFFERSON CITY - The first ever "Christmas Countdown" Sunday is giving Jefferson City an opportunity for some last minute Christmas... More >>
19 hours ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 9:21:00 AM CST December 17, 2017 in News
COLUMBIA (AP) — Police say they have arrested a man charged in an August quadruple homicide that occurred in... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 11:15:00 PM CST December 16, 2017 in News
NEW BLOOMFIELD - A two-vehicle car wreck Saturday left one dead and two others injured, according to the Missouri State... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 8:15:00 PM CST December 16, 2017 in News
COLUMBIA - An event in Columbia today addressed the prevalence of gun violence and misuse of firearms by offering gift... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 8:04:00 PM CST December 16, 2017 in News
COLUMBIA – A six-year-old held a hot chocolate stand Saturday outside of a Hy-Vee in Jefferson City to help two... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 6:51:00 PM CST December 16, 2017 in News
COLUMBIA - The Wyss Medical Foundation donated $2 million to the Missouri Orthapaedic Institute for the work of lead orthopaedic... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 5:05:00 PM CST December 16, 2017 in News
COLUMBIA - On Friday, the Columbia Police Department inducted eight new recruits, the largest class of officers in years. ... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 4:03:00 PM CST December 16, 2017 in News
COLUMBIA – A new roundabout may be coming to Columbia on one intersection that may cause drivers trouble. The... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 3:55:00 PM CST December 16, 2017 in News
JACKSONVILLE - An estimated 400 people attended a wreath laying ceremony Saturday at the Jacksonville State Veterans Cemetery. It... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 3:31:00 PM CST December 16, 2017 in News
COLUMBIA – Graduation day is long awaited by many and Amy Kiso Bledsoe is no exception. Bledsoe was... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 2:47:00 PM CST December 16, 2017 in News
ST. LOUIS (AP) — As Missouri struggles with the epidemic of opioid abuse, no place in the state has been... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 1:10:14 PM CST December 16, 2017 in News
Columbia, MO
Broken Clouds 45°
5am 44°
6am 43°
7am 41°
8am 41°

Select a station to view its upcoming schedule:

Coming Up Next

4:30a
KOMU 8 News Today
5:00a
KOMU 8 News Today
6:00a
KOMU 8 News Today
4:30a
Paid Program
5:00a
Paid Program
5:30a
Paid Program

Tonight's Schedule

7:00p
The Voice
9:01p
Ellen's Game of Games
7:00p
Popstar's Best of 2017
8:00p
The Hollywood Walk of Fame Honors 2017
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld