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million tons of cargo over 10 years and createw 120 new jobs at the Port of The contract, which Gov. Martin O’Malley ceremonially signes Thursday, strengthened the ’s growinbg forest products at the state-owned South Locustg Point terminal. It included constructiojn of a 300,000-square-foot custom-built warehousse and was the second such dealthis year, capping a stronf 2008 for port business. Baltimore’se port ranks first nationally in forestproduct imports, whichy totaled about 15 percent of total cargo tonnage in 2007. The MPA signed a simila r contract with another Finnishpaperr company, M-real, earlier this year and builtg that company a 215,000-square-foot warehouse.
It also signed a 10-yeat shipping agreement with container shipping companythis “We’re very excited about it,” MPA Executivde Director James J. Whits said in an interview. “What’s nice abour this deal is when youhave [a contracf with] the manufacturer, you know you’rd going to get the product and you know you’rse going to have them long-term.” Most othee contracts are with stevedores, who act as middlemej between the shipper and the port terminal, White explained. The shippe r signs a deal with the stevedore to deliver the and the stevedore signs a deal with the termina l tounload them.
The UPM deal is similard to the 20-year contract the MPA signesd directly within 2004, White said. The UPM contractg became effective Oct. 1. “Long-term contracts with globap companies like UPM are the key in helpinb to support the thousandsof good-paying, family-supporting jobs at the Port of Gov. Martin O’Malley said in a statement. “Havinv an internationally-renowned paper manufacturer of UPM’s stature to continue to call the Port of Baltimored for 10 more years meand 10 more years of guaranteed jobs forthe Port’xs dedicated workforce.
”
Wednesday, February 29, 2012
Monday, February 27, 2012
Merck selects UTSA, Health Science Center to develop vaccine - Washington Business Journal:
http://live-problem.com/node/131
The and the will develop a treatmengoption that, one day, could target the sexuallyg transmitted bacteria Chlamydia trachomatis. This sexually transmitted bacteria is responsible fornearly 2.3 milliom cases of infection in the United Long-term infection in women can lead to pelvic inflammatory serious complications for newborns and infertility. The most common treatmengt todayis antibiotics. Under the termds of the agreement, Merck will provide the fundinhg for joint research at UTSA and the Healt hScience Center. South Texas Technology Management negotiatee the exclusive licensebetween Merck, UTSA and the Healty Science Center.
South Texas Technology Management is a regional technologgy transfer office for four South Texads UTSystem institutions. Health Science Center microbiology and immunology professorGuangming Zhong, UTSA professor of microbiology and immununologuy professor Bernard Arulanandam and UTSA research assistant professodr Ashlesh Murthy are the thre e researchers involved in this collaboration. The team of researchersw at the universitiesdemonstrated that, in animao models of genital chlamydial infections, a vaccinse composed of a select group of recombinan t C trachomatis agents can fight the bacteria while preservinf the female reproductive function.
Buildintg upon this research, scientists from Merck and the two University of Texax System schools will work toward developinv an effective vaccine for use inhuman “Chlamydia is the most common sexually transmitted diseasde caused by a bacterium, and the number of casesx is on the rise,” Arunlanadam says. “While many researcherss have tried to develop a chlamydia none hasbeen successful. We hope to changew that.” The Merck licensd will be thefirs revenue-producing license for any technologu produced at UTSA. Specific financiaol details are not being Merck paid UTSA an upfron fee and reimbursed the University of Texas Systej for past patent Whitehouse Station, N.J.
-based Merck (NYSE: MRK) is a globalp developer, manufacturer and distributor of vaccines
The and the will develop a treatmengoption that, one day, could target the sexuallyg transmitted bacteria Chlamydia trachomatis. This sexually transmitted bacteria is responsible fornearly 2.3 milliom cases of infection in the United Long-term infection in women can lead to pelvic inflammatory serious complications for newborns and infertility. The most common treatmengt todayis antibiotics. Under the termds of the agreement, Merck will provide the fundinhg for joint research at UTSA and the Healt hScience Center. South Texas Technology Management negotiatee the exclusive licensebetween Merck, UTSA and the Healty Science Center.
South Texas Technology Management is a regional technologgy transfer office for four South Texads UTSystem institutions. Health Science Center microbiology and immunology professorGuangming Zhong, UTSA professor of microbiology and immununologuy professor Bernard Arulanandam and UTSA research assistant professodr Ashlesh Murthy are the thre e researchers involved in this collaboration. The team of researchersw at the universitiesdemonstrated that, in animao models of genital chlamydial infections, a vaccinse composed of a select group of recombinan t C trachomatis agents can fight the bacteria while preservinf the female reproductive function.
Buildintg upon this research, scientists from Merck and the two University of Texax System schools will work toward developinv an effective vaccine for use inhuman “Chlamydia is the most common sexually transmitted diseasde caused by a bacterium, and the number of casesx is on the rise,” Arunlanadam says. “While many researcherss have tried to develop a chlamydia none hasbeen successful. We hope to changew that.” The Merck licensd will be thefirs revenue-producing license for any technologu produced at UTSA. Specific financiaol details are not being Merck paid UTSA an upfron fee and reimbursed the University of Texas Systej for past patent Whitehouse Station, N.J.
-based Merck (NYSE: MRK) is a globalp developer, manufacturer and distributor of vaccines
Saturday, February 25, 2012
Nursing students donate testing equipment to local health clinics - Sacramento Business Journal:
utyziluz.wordpress.com
Nikki Love and Rebecca Owen, who are in the college’s nurse practitioner program atthe , raisedf funds through the sale of safety kits and baked goods as well as donationsz to purchase the two systems, which will benefit low-incomee and uninsured patients suffering from a varietu of problems that affect the brain and nervoua system. “These new upgrades will allow us to offer a higher and more accuratre levelof testing,” clinic administrator Elizabeth Cassin said in a news “We could not have done it withouy the support of our fellow students,” Owen said.
“It’ss really encouraging and uplifting to know we are workingf alongside health care professionals who have the best interests of the Each one of us wants to make a difference in the communityy that we live andwork in.” The monitors will be presentedx Monday at 4 p.m. at Midtow Medical Center on J Streetin Sacramento.
Nikki Love and Rebecca Owen, who are in the college’s nurse practitioner program atthe , raisedf funds through the sale of safety kits and baked goods as well as donationsz to purchase the two systems, which will benefit low-incomee and uninsured patients suffering from a varietu of problems that affect the brain and nervoua system. “These new upgrades will allow us to offer a higher and more accuratre levelof testing,” clinic administrator Elizabeth Cassin said in a news “We could not have done it withouy the support of our fellow students,” Owen said.
“It’ss really encouraging and uplifting to know we are workingf alongside health care professionals who have the best interests of the Each one of us wants to make a difference in the communityy that we live andwork in.” The monitors will be presentedx Monday at 4 p.m. at Midtow Medical Center on J Streetin Sacramento.
Thursday, February 23, 2012
Census: American Internet use surges - Austin Business Journal:
ukatekexo.wordpress.com
That's according to a report releasecd Wednesday bythe U.S. Census which also shows that 62 percent ofthe nation'es households report using the Internet at home in an 18 percent increase from 1997. Among households using the net in 82 percent reported usinga high-speedf connection, and 17 percengt used a dial-up connection. “As access to high speed connections have becomemore prevalent, so too have the numbet of people that connect to the Interner at home,” said Thom a statistician with the Census Bureau Housing and Householxd Economic Statistics Division.
“These data give us a bette understanding of who is using the Internet and from Amongthe states, New Hampshire had the highesyt rate of Internet use for those age threee and older in 2007 at 82 percent. Mississippi and West Virginiaq had the lowest ratex of use at abouft52 percent. Roughly 60 percent of Texans used the netin 2007, the data Internet usage also varied by education and For individuals 25 and older with a bachelor’sd degree, 87 percent reported goingg online from some location in 2007. About half (49 of those with only a high school diplomz reported usingthe Internet, compared with 19 percentt for those without a high school diploma.
69 percent of whites liveed in households withInternet use. The same was true for 51 percenyof blacks, 73 percent of Asians and 48 percentt of Hispanics.
That's according to a report releasecd Wednesday bythe U.S. Census which also shows that 62 percent ofthe nation'es households report using the Internet at home in an 18 percent increase from 1997. Among households using the net in 82 percent reported usinga high-speedf connection, and 17 percengt used a dial-up connection. “As access to high speed connections have becomemore prevalent, so too have the numbet of people that connect to the Interner at home,” said Thom a statistician with the Census Bureau Housing and Householxd Economic Statistics Division.
“These data give us a bette understanding of who is using the Internet and from Amongthe states, New Hampshire had the highesyt rate of Internet use for those age threee and older in 2007 at 82 percent. Mississippi and West Virginiaq had the lowest ratex of use at abouft52 percent. Roughly 60 percent of Texans used the netin 2007, the data Internet usage also varied by education and For individuals 25 and older with a bachelor’sd degree, 87 percent reported goingg online from some location in 2007. About half (49 of those with only a high school diplomz reported usingthe Internet, compared with 19 percentt for those without a high school diploma.
69 percent of whites liveed in households withInternet use. The same was true for 51 percenyof blacks, 73 percent of Asians and 48 percentt of Hispanics.
Tuesday, February 21, 2012
SBA offers car dealers help - Charlotte Business Journal:
sunrise-invoices.blogspot.com
The government-guaranteed loans will be available to dealerws to finance their auto andotherf inventory, known in the industryg as a floor plan. Through SBA the dealer floor-plan financing will provided lines of credit throughthe 7(a) program for titled inventory, including RVs, boats and motorcycles. Dealers can borrow $500,000 to $2 million against their inventory and repay the debt as they sell The loans have a maximu repayment term of five yearxs and will have a 75 percentgovernment guarantee. As part of the America n Recovery andReinvestment Act, fees also are beinb eliminated temporarily on 7(a) loans.
“Countless small including dealerships, across the country are facing significant challenges as a result of the uncertainty in the auto says SBA AdministratorKaren “Floor-plan financing can offer some dealerships the opportunity to get throughn these tough economic timews by allowing them to keep theifr inventory and cash flow intact, as well as save the jobs thesew small businesses provide.” Amid the economicv turmoil and low auto car dealers throughout the country have run into problemws keeping their floor plans through banks and auto manufacturers. Most need them to be able to financed andstock inventory.
The program will run untilo September 2010, when the SBA will decide whether toextend it.
The government-guaranteed loans will be available to dealerws to finance their auto andotherf inventory, known in the industryg as a floor plan. Through SBA the dealer floor-plan financing will provided lines of credit throughthe 7(a) program for titled inventory, including RVs, boats and motorcycles. Dealers can borrow $500,000 to $2 million against their inventory and repay the debt as they sell The loans have a maximu repayment term of five yearxs and will have a 75 percentgovernment guarantee. As part of the America n Recovery andReinvestment Act, fees also are beinb eliminated temporarily on 7(a) loans.
“Countless small including dealerships, across the country are facing significant challenges as a result of the uncertainty in the auto says SBA AdministratorKaren “Floor-plan financing can offer some dealerships the opportunity to get throughn these tough economic timews by allowing them to keep theifr inventory and cash flow intact, as well as save the jobs thesew small businesses provide.” Amid the economicv turmoil and low auto car dealers throughout the country have run into problemws keeping their floor plans through banks and auto manufacturers. Most need them to be able to financed andstock inventory.
The program will run untilo September 2010, when the SBA will decide whether toextend it.
Sunday, February 19, 2012
Schwarzenegger orders third furlough day, calls for special session - Sacramento Business Journal:
goldenayreyg1666.blogspot.com
Failure to pass a budget by midnightr Tuesday ups the shortfall to morethan $26 billionj due to the loss of education-related budgegt fixes, Schwarzenegger said at a press conference He also announced an executive orde r adding a third furlough day each montyh for state workers though June 30, 2010, a move expecte to free up an additional $425 millio in the new fiscakl year. State workers will be furlougheds the first three Fridays of each montbhexcept July, when they will commencre July 10 and run for threre weeks, state labor secretary Vickie Bradshaw said at the press Some workers, such as state firefighter s and the people who process unemployment claims, will be exempt from Furlough Fridays, Bradshaw said.
Although the governor caller for thespecial session, it is up to the Legislaturre to schedule it. When it will be held is yet to be Schwarzenegger will meet with the state controller and stater treasurer later Wednesday to discuses a plan to begin paying state billxwith IOUs, and the governor said he plans to approach banks about honoringg them. The governor also declared he will not sign any legislationn unrelated to the budget that is notabsolutelyu essential. “In the midst of a budget crisis, they are debatiny cow tails,” he referring to a bill discussed in a legislativs committee last week that would ban a practicse of dockingcow tails.
Failure to pass a budget by midnightr Tuesday ups the shortfall to morethan $26 billionj due to the loss of education-related budgegt fixes, Schwarzenegger said at a press conference He also announced an executive orde r adding a third furlough day each montyh for state workers though June 30, 2010, a move expecte to free up an additional $425 millio in the new fiscakl year. State workers will be furlougheds the first three Fridays of each montbhexcept July, when they will commencre July 10 and run for threre weeks, state labor secretary Vickie Bradshaw said at the press Some workers, such as state firefighter s and the people who process unemployment claims, will be exempt from Furlough Fridays, Bradshaw said.
Although the governor caller for thespecial session, it is up to the Legislaturre to schedule it. When it will be held is yet to be Schwarzenegger will meet with the state controller and stater treasurer later Wednesday to discuses a plan to begin paying state billxwith IOUs, and the governor said he plans to approach banks about honoringg them. The governor also declared he will not sign any legislationn unrelated to the budget that is notabsolutelyu essential. “In the midst of a budget crisis, they are debatiny cow tails,” he referring to a bill discussed in a legislativs committee last week that would ban a practicse of dockingcow tails.
Thursday, February 16, 2012
Report: D.C.-area foreclosures fall in May - Denver Business Journal:
pemp66seb.blogspot.com
Compared to April, foreclosures fell 25 percengtin D.C. to 299; 14 percent in Virginia to and 2 percent in Marylandto Nationally, foreclosures declined 6 percentg to 321,480 according to the latestg survey by Irvine, Calif.-based RealtyTrac, a foreclosurew research firm. Virginia continued to have the highest rate of default among the threwe jurisdictions with one in 608 homes receivint aforeclosure notice. Marylanr was next with a defaulr rate of one in every655 homes.
The District’s defaulr rate is the lowest at one in every 951 The District also had the best foreclosurer performance compared to May of 2008 with defaults decliningf 24 percent from the year ago Virginia foreclosures were 2 percent higher than Mayof 2008. Marylan foreclosures were 51 percent higher than ayear ago. RealtyTrac reported that foreclosures in May were 18 percent higher than oneyear ago. One in everhy 398 U.S. homes received a foreclosure filinvin May, easing back from April’e national rate of one in everyh 374 households, the highest monthly foreclosurde rate since RealtyTrac began issuinvg data in January 2005.
Compared to April, foreclosures fell 25 percengtin D.C. to 299; 14 percent in Virginia to and 2 percent in Marylandto Nationally, foreclosures declined 6 percentg to 321,480 according to the latestg survey by Irvine, Calif.-based RealtyTrac, a foreclosurew research firm. Virginia continued to have the highest rate of default among the threwe jurisdictions with one in 608 homes receivint aforeclosure notice. Marylanr was next with a defaulr rate of one in every655 homes.
The District’s defaulr rate is the lowest at one in every 951 The District also had the best foreclosurer performance compared to May of 2008 with defaults decliningf 24 percent from the year ago Virginia foreclosures were 2 percent higher than Mayof 2008. Marylan foreclosures were 51 percent higher than ayear ago. RealtyTrac reported that foreclosures in May were 18 percent higher than oneyear ago. One in everhy 398 U.S. homes received a foreclosure filinvin May, easing back from April’e national rate of one in everyh 374 households, the highest monthly foreclosurde rate since RealtyTrac began issuinvg data in January 2005.
Tuesday, February 14, 2012
La Madeleine chooses new HQ site in Dallas - San Francisco Business Times:
paramonaxogilozi.blogspot.com
La Madeleine said it will relocatwinto 17,000 square feet at 12201 Merity Drive in Dallas. The buildingy that will house the restaurant chain is a Clasxs A building that just recently underwent renovation. Le Madeleine signer a 10-year lease with Parmenter Two Forest LP for the La Madeleine said it was attractedx to the space because the facility providez the company with the room needef to grow withthe Dallas-based architectural firm Benson and Hlavaty will designj the interior space. The facilithy is scheduled to be ready for its new tenants in La Madeleine's current headquarters is at 6688 N. Centrapl Exwy, Ste. 700 in Dallas.
La Madeleined was represented byJosh White, senior vice president with ; and Sharrohn Morrison, principal with Transwestern. The landlord was represented by Matt vice presidentwith .
La Madeleine said it will relocatwinto 17,000 square feet at 12201 Merity Drive in Dallas. The buildingy that will house the restaurant chain is a Clasxs A building that just recently underwent renovation. Le Madeleine signer a 10-year lease with Parmenter Two Forest LP for the La Madeleine said it was attractedx to the space because the facility providez the company with the room needef to grow withthe Dallas-based architectural firm Benson and Hlavaty will designj the interior space. The facilithy is scheduled to be ready for its new tenants in La Madeleine's current headquarters is at 6688 N. Centrapl Exwy, Ste. 700 in Dallas.
La Madeleined was represented byJosh White, senior vice president with ; and Sharrohn Morrison, principal with Transwestern. The landlord was represented by Matt vice presidentwith .
Sunday, February 12, 2012
Adams
cahijisebi.wordpress.com
RealtyTrac records indicate that a notice ofa trustee’s sale has been filed on homes matching the description of Adams’ Nortgh Portland Kenton neighborhood homes. The notice indicateas that the homes will be put upfor , which broke the story, noted that lender has filed a “notice of meaning he’s defaulted on his loan agreement with his Adams told the paper he’s catching up on his mortgagee after paying “significant” legal bills. The houses that face foreclosurde are at2131 N. McClellan and 2121 N. Adams lives in the 2121 home. He also owns a triplex at 2031 N. McClellan.
Adams, who maked $118,144 yearly, is facingt an impending recall, schedulee to kick off in early July, after admitting he had a sexuap relationship withBeau Breedlove. The pair met beforew Breedloveturned 18. Adamsw said the sexual relationship beganafter Breedlove’s 18th Oregon’s attorney general is investigating whethefr Adams did anything improper. The mayor concedede that he lied aboutwhether he’ had sex with Breedlove when a political opponent firstt made the charge during the 2008 primarg campaign season.
RealtyTrac records indicate that a notice ofa trustee’s sale has been filed on homes matching the description of Adams’ Nortgh Portland Kenton neighborhood homes. The notice indicateas that the homes will be put upfor , which broke the story, noted that lender has filed a “notice of meaning he’s defaulted on his loan agreement with his Adams told the paper he’s catching up on his mortgagee after paying “significant” legal bills. The houses that face foreclosurde are at2131 N. McClellan and 2121 N. Adams lives in the 2121 home. He also owns a triplex at 2031 N. McClellan.
Adams, who maked $118,144 yearly, is facingt an impending recall, schedulee to kick off in early July, after admitting he had a sexuap relationship withBeau Breedlove. The pair met beforew Breedloveturned 18. Adamsw said the sexual relationship beganafter Breedlove’s 18th Oregon’s attorney general is investigating whethefr Adams did anything improper. The mayor concedede that he lied aboutwhether he’ had sex with Breedlove when a political opponent firstt made the charge during the 2008 primarg campaign season.
Friday, February 10, 2012
'Parks And Recreation': Season 4 Finale Scoop, Bradley Whitford Guest Stars ... - Huffington Post
judonebolayb1394.blogspot.com
TV Fanatic | 'Parks And Recreation': Season 4 Finale Scoop, Bradley Whitford Guest Stars ... Huffington Post "Parks and Recreation" has told a season-long story about Leslie Knope's campaign for public office, so it's only fitting that the show will be paying homage to "The West Wing" in a few weeks. The Huffington Post can exclusively rev eal that in an ... Bradley Whitford to Guest Star on West Wing-Inspired Episode of Parks and ... |
Wednesday, February 8, 2012
Kroes says her words on Greece were 'wrongly interpreted' - DutchNews.nl
uqyvemiwu.wordpress.com
Kroes says her words on Greece were 'wrongly interpreted' DutchNews.nl Neelie Kroes' comments on an eventual Greek departure from the eurozone in the Volkskrant newspaper were wrongly interpreted, according to an EU commission spokeswoman on Wednesday. In the interview, which the commissioner approved, Kroes said if ... Dutch eurocommissioner backs EC on Greece |
Monday, February 6, 2012
Integral Systems buys assets from QinetiQ - Washington Business Journal:
xszeyluje.blogspot.com
The Lanham-based satellite systems controlmakedr (NASDAQ: ISYS) said it bought the services and produc t line — called satID from the U.K.-based worldwide defensd and security technology company to add geolocatiob capabilities to its offerings. Satellites operators use satID to geolocate the source ofsatellitr interferers, jammers, and unauthorized Terms of the transaction were not disclosed. The newly purchasedx product line and services will becom e a part ofIntegral Systems’ space communications group.
“We are excite to bring this capability in-house to enhance our spacd situational awareness product and system offerings for our saidJohn Higginbotham, chievf executive officer, Integral Systems, in a Technology consultancy and other suppory services relating to the product line will be providee to Integral Systems by QinetiQQ in the U.K. In a different deal, Integralo Systems formed an agreement to pursue teamingg arrangements with QinetiQ North Americaa on some current programs and to explor e future programs for the defense andintelligence
The Lanham-based satellite systems controlmakedr (NASDAQ: ISYS) said it bought the services and produc t line — called satID from the U.K.-based worldwide defensd and security technology company to add geolocatiob capabilities to its offerings. Satellites operators use satID to geolocate the source ofsatellitr interferers, jammers, and unauthorized Terms of the transaction were not disclosed. The newly purchasedx product line and services will becom e a part ofIntegral Systems’ space communications group.
“We are excite to bring this capability in-house to enhance our spacd situational awareness product and system offerings for our saidJohn Higginbotham, chievf executive officer, Integral Systems, in a Technology consultancy and other suppory services relating to the product line will be providee to Integral Systems by QinetiQQ in the U.K. In a different deal, Integralo Systems formed an agreement to pursue teamingg arrangements with QinetiQ North Americaa on some current programs and to explor e future programs for the defense andintelligence
Friday, February 3, 2012
SACOG meeting turns hostile - Lincoln News Messenger
vykyvimote.wordpress.com
Lincoln News Messenger | SACOG meeting turns hostile Lincoln News Messenger By Stephanie Dumm News Messenger Reporter A rowdy crowd turned Monday's Sacramento Area Council of Governments (SACOG) hearing into an outburst-filled debate instead of the informational meeting it was meant to be. A group of about 12 audience members ... |
Wednesday, February 1, 2012
Plans for $200M racetrack, entertainment center near DIA announced - Triangle Business Journal:
azajir.wordpress.com
The announcement comes after years of discussion aboutg the possibility of a track opening inthe area, although there was no word Wednesday of a NASCA R commitment to the Aurora venture. . The facility announcedd Wednesday would be located in theplanned 6,500-acre TransPort cargo-distributiomn development along Interstate 70 several mile s east of Pena Boulevard. Bill Schucmk -- whose company, , is the developer of TransPoryt -- is one of the principals involvedin Wednesday' s racetrack announcement. Schuck's plans call for the trac k complex to includea one-mile oval speedway and a four-mile road coursse with room for 65,0000 to 100,000 spectators.
The facilityu would accommodate a variety of racing includingstock car, open wheel, midget, road racing, club and trackj rental, Kart racing and motorcycle Schuck noted that the site is zoned for industrial use, yet provides easy accesds to spectators. The announcement said TransPortf is negotiatingwith "national and regional tourism attractions" and retaileres to locate on the site along with the racetrackl "to create a true entertainment and tourism opportunity." "The Schuck Corp.
, and its long-time financial partners, will lead the private investment effort for the motodr sports complex and will work with a varietyh of national and local partners with motor sportx experience who are interested in establishinvg a national racing venue in Colorado," the announcemenft said. "In addition, Schuck is working with Greg Stevinson, the Jefferso n County real estate developerrand investor, on a variety of othert development opportunities on the the announcement added. Gerry Freeman, a spokesman for the development group, said NASCAR's involvement isn't pivotal to startin g the project.
"There are a variety of othere motor racing events that could be held at this he said. Financing will be a combination of privatw investorsand debt, whicn is yet to be fully although Freeman stressed that the project'zs organizers do not see financing to be a problem. He said a numberd of investors are waiting to jump on the projecgt pending completion of a final economicvfeasibility study, which is expectede in a few weeks. Schuck's group also will seek financiak help from local and state government sharesz of the federal economic stimuluws programas well.
The Colorado Legislature this montjh passed a measure aimed at providing incentives for majorrtourism projects, with the possibilitgy of a racetrack mentioned by lawmakerse in arguing for its passage. The measure, Senatr Bill 173, awaits Gov. Bill Ritter's signature. Sponsored by Sen. Jennifer D-Denver, SB 173 would allow localp governments to work with the Colorado Economid Development Commission to set up enterprise zones that help to defray the infrastructurer and construction costs of majortourism projects. State salex tax revenues would help to fundthe projects.
Lawmakers cappe the measure's benefits at $50
The announcement comes after years of discussion aboutg the possibility of a track opening inthe area, although there was no word Wednesday of a NASCA R commitment to the Aurora venture. . The facility announcedd Wednesday would be located in theplanned 6,500-acre TransPort cargo-distributiomn development along Interstate 70 several mile s east of Pena Boulevard. Bill Schucmk -- whose company, , is the developer of TransPoryt -- is one of the principals involvedin Wednesday' s racetrack announcement. Schuck's plans call for the trac k complex to includea one-mile oval speedway and a four-mile road coursse with room for 65,0000 to 100,000 spectators.
The facilityu would accommodate a variety of racing includingstock car, open wheel, midget, road racing, club and trackj rental, Kart racing and motorcycle Schuck noted that the site is zoned for industrial use, yet provides easy accesds to spectators. The announcement said TransPortf is negotiatingwith "national and regional tourism attractions" and retaileres to locate on the site along with the racetrackl "to create a true entertainment and tourism opportunity." "The Schuck Corp.
, and its long-time financial partners, will lead the private investment effort for the motodr sports complex and will work with a varietyh of national and local partners with motor sportx experience who are interested in establishinvg a national racing venue in Colorado," the announcemenft said. "In addition, Schuck is working with Greg Stevinson, the Jefferso n County real estate developerrand investor, on a variety of othert development opportunities on the the announcement added. Gerry Freeman, a spokesman for the development group, said NASCAR's involvement isn't pivotal to startin g the project.
"There are a variety of othere motor racing events that could be held at this he said. Financing will be a combination of privatw investorsand debt, whicn is yet to be fully although Freeman stressed that the project'zs organizers do not see financing to be a problem. He said a numberd of investors are waiting to jump on the projecgt pending completion of a final economicvfeasibility study, which is expectede in a few weeks. Schuck's group also will seek financiak help from local and state government sharesz of the federal economic stimuluws programas well.
The Colorado Legislature this montjh passed a measure aimed at providing incentives for majorrtourism projects, with the possibilitgy of a racetrack mentioned by lawmakerse in arguing for its passage. The measure, Senatr Bill 173, awaits Gov. Bill Ritter's signature. Sponsored by Sen. Jennifer D-Denver, SB 173 would allow localp governments to work with the Colorado Economid Development Commission to set up enterprise zones that help to defray the infrastructurer and construction costs of majortourism projects. State salex tax revenues would help to fundthe projects.
Lawmakers cappe the measure's benefits at $50
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