Total impact of contribution with anticipated matching TRIP funds is nearly $40 million, largest research investment in Texas Tech’s history.
Texas Tech University
officials announced today (Jan. 23) a $19.3 million contribution from Bayer CropScience to benefit research programs and projects in the College of Agricultural Sciences and Natural Resources.
The $19.3 million contribution has been submitted for an equal amount of state matching funds from the Texas Research Incentive Program (TRIP), which would increase the total impact to $38.6 million and be the largest cash investment for research in the history of Texas Tech University.
“Today’s announcement continues a productive and valuable research collaboration between Texas Tech University and Bayer CropScience,” said Texas Tech University System Chancellor Kent Hance, who has been working on this contribution with Scott Cooksey, interim vice chancellor for Institutional Advancement, for three years. “Along with anticipated matching funds from the Texas Research Incentive Program, the impact of this contribution will reach nearly $40 million and benefit not only our research enterprise, faculty and students, but also our region.”
The funds will support significant research developments in the Department of Plant and Soil Science (PSS), including an endowed chair in PSS, a fellowship endowment for graduate students and new research facilities and space in PSS.
“We are so pleased at the opportunity to continue to build our relationship with Texas Tech University,” said Mike Gilbert, vice president for Global Breeding and Trait Development, Bayer CropScience. “It will take multiple companies and institutions to address all the challenges agriculture will face in the future. Bayer CropScience is committed to research and development through collaborations such as this, and Texas Tech shares these same commitments. We look forward to a long and rewarding relationship that will impact agriculture in ways we can’t even imagine today.”
Bayer’s total contributions to Texas Tech since 1998 equal $27.6 million. The full impact of Bayer contributions to Texas Tech including matching funds is $54.85 million, when leveraged with TRIP and Regents’ Professorship matching funds totaling $27.25 million.
Previous contributions from Bayer include $2.5 million toward the PSS building for research space in 2009, which was matched with $2.5 million in TRIP funds; and another $5 million toward PSS research funds, also matched with $5 million in TRIP.
“Partnerships between Texas Tech University and corporations like Bayer CropScience are essential as we advance our research enterprise and continue our forward momentum as one of the nation’s leading research institutions,” said Texas Tech University President M. Duane Nellis. “We are truly grateful to Bayer CropScience and its leadership for their confidence and vision in Texas Tech University and look forward to collaborating on cutting-edge and impactful research.”
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CONTACT: Scott Cooksey,
interim vice chancellor of Institutional Advancement, Texas Tech University System
CONTACT: Leslie Cranford,
Bayer CropScience Twitter Page: http://twitter.com/bayer4cropsus
Find more information at www.bayercropscience.us.
Bayer CropScience Media Hotline, 1-877-879-6162,
Head of Communications & Bayer CropScience NA Coordinator
Tel: (919) 549-2030
Rhea + Kaiser
Tel: (630) 955-2601
About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. Bayer CropScience, the subgroup of Bayer AG responsible for the agricultural business, has annual sales of EUR 8,383 million (2012) and is one of the world’s leading innovative crop science companies in the areas of seeds, crop protection and non-agricultural pest control. The company offers an outstanding range of products including high value seeds, innovative crop protection solutions based on chemical and biological modes of action as well as an extensive service backup for modern, sustainable agriculture. In the area of non-agricultural applications, Bayer CropScience has a broad portfolio of products and services to control pests from home and garden to forestry applications. The company has a global workforce of 20,800 (Dec 31, 2012) and is represented in more than 120 countries. This and further news is available at: www.press.bayercropscience.com.