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Continued: CoEE

The South Carolina General Assembly created the CoEE program in 2002 to revitalize the state economy and create higher-paying jobs. The program invests S.C. Education Lottery revenue in advanced research centers to help South Carolina become a leader in a variety of innovative fields such as biomedicine, energy science and automotive engineering. Lottery funds are granted to the state’s three senior research institutions (the University of South Carolina, Clemson University and Medical University of South Carolina) on a competitive basis. To access the awarded lottery funds, institutions must match the state funds dollar-for-dollar from non-state sources.

“These results confirm the visionary wisdom of the General Assembly in creating the CoEE program,” said CoEE Review Board Chair Pamela P. Lackey. “This unique initiative is having a significant, measurable impact on our state’s economy and on our citizens. Without the CoEE program, South Carolina would surely have missed out on hundreds of millions in investment and thousands of high-skill, high-paying jobs.”

"The fact that the CoEE program has generated $363 million in outside investments and helped the private sector create thousands of new, high-paying jobs in South Carolina is outstanding news," said S.C. House Speaker Bobby Harrell, who helped draft the original CoEE legislation. "I believe we are witnessing just the beginning of what investing in science, research and technology can accomplish. This proves that the CoEE Program is fulfilling the goals for which it was created – to attract outside investment dollars, spur private-sector job creation and help secure our economic future."


About the CoEE Program
The CoEE Program was created by the South Carolina legislature in 2002 and is funded through South Carolina Education Lottery proceeds. The legislation authorizes the state's three public research institutions, the University of South Carolina, Clemson University and the Medical University of South Carolina, to use state funds to create Centers of Economic Excellence in research areas that will advance South Carolina's economy. Each Center of Economic Excellence is awarded from $2 million to $5 million in state lottery funds, which must be matched on a dollar-for-dollar basis with non-state investment. To date, 49 Centers of Economic Excellence have been created and 35 CoEE Endowed Chairs have been appointed to lead the centers. A comprehensive evaluation of the CoEE Program by a Washington, D.C.-based think tank, the Washington Advisory Group, has called South Carolina’s CoEE Program “the best of its kind in the nation.” For more information, visit www.sccoee.org.

By Office of Media Relations

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Posted: 12/15/10 @ 8:20 AM | Updated: 12/21/10 @ 1:15 PM | Permalink

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