The University of Illinois Board of Trustees transferred oversight of the University of Illinois Research Park from the U. of I. System to the University of Illinois at Urbana-Champaign.
Trustees approved the Research Park in 1999 and authorized the University of Illinois Research Park LLC in 2000 as the formal entity to develop and operate research parks in support of the university’s economic development mission. On the endorsement of President Tim Killeen and Urbana campus Chancellor Robert Jones, the limited liability company’s Board of Managers voted in October to recommend that the Board of Trustees change the legal entity’s scope to focus solely on the Research Park in Urbana-Champaign.
