Governor Tom Vilsack’s $50 million plan to fund biotechnology interests could have a hefty impact on Iowa State.

In a press conference Monday, Vilsack announced the creation of a life sciences initiative that would bolster entrepreneurial options for biotech industries, encourage farmers to produce crops aimed at pharmaceutical development and provide public investment for start-up companies.

President Gregory Geoffroy attended the press conference and was part of the “exchange of ideas that helped give the governor some ideas on his plan,” said Barb Boose of the Iowa Regents office.

“It will have a tremendous impact on Iowa State,” Geoffroy said. “Much of the proposal is for infrastructure, and a number of facilities have a good chance of being placed in our research park.” Among those facilities are a protein-extraction facility and a business incubator facility.

If placed at Iowa State, these would be administered by the Office of Biotechnology, a cross-departmental office which includes faculty from the colleges of Agriculture, Engineering, Family and Consumer Sciences, and Veterinary Medicine.

“What Iowa needs most right now is to strengthen the economy, and we’re strong in the life sciences, so it’s important for the state to make key investments,” Geoffroy said.

The plan needs to be passed by the Iowa Legislature before any of the money can be allocated.

Vilsack’s plan breaks down as follows:

* $4 million: Outreach program to accelerate new business creation, new business incubator support functions, including operational expenses and personnel.

* $14 million: Construction of and equipment for new business incubator support facilities and research and development support for innovative genetic transformation, including incubator facilities, transgenic animal facilities, and transgenic plant facilities.

* $15 million: Construction of and equipment for new business incubator facilities and research and development for human pharmaceutical development.

* $17 million: Construction of protein extraction facilities and services.