State Endowment Generates Nearly $7 Million For Research

Wednesday, September 12th 2007, 3:35 pm
By: News On 6

OKLAHOMA CITY (AP) -- A tax-supported research endowment that is intended to diversify Oklahoma's economy has generated nearly $7 million for research projects. But members of the fund's policy board urged caution Wednesday before deciding where the money should be spent.

The Economic Development Generating Excellence endowment was created last year following the recommendation of a task force that proposed a $1 billion endowment that would generate interest earnings for research projects in Oklahoma.

The endowment was initially funded with $150 million.

Governor Brad Henry has urged lawmakers to fully fund the endowment.