Benefits of Investment
Investing in a Center of Economic Excellence (CoEE) has compelling benefits for companies, foundations, and organizations.
When private-sector funds are invested in a CoEE, matching state funds in essence double the impact of the investment.
For companies, investing in a CoEE is an opportunity to form a strategic partnership with a research university and one or more world-class faculty members. CoEEs attract research stars whose work can produce scientific breakthroughs and ultimately benefit industry and create jobs. The result is a joint venture that will pay dividends both now and in the future. |
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Potential returns on investing in the CoEE Program:
Cost savings
Save money on research and development.
Companies investing in a CoEE will be able to conduct research at a lower cost and with higher quality than would be possible using internal resources and personnel. Companies will also have access to the brainpower at South Carolina’s research universities and will benefit from the universities’ technology infrastructure.
Innovation
Tap into university research to improve products and processes.
With fierce competition in today’s global market, the only way to stay competitive is through constant innovation. An investment in a CoEE has the high potential for improving a company’s products or helping to establish a new product faster and more efficiently.
Workforce development
Invest for the future.
Companies need talent to guarantee long-term success. Investing in a CoEE helps a company build its future talent pipeline.
When companies invest in a CoEE, they enable South Carolina’s research universities to recruit top-level faculty. These world-class scientists in turn make it easy for the universities to attract the best and brightest students. These students can work for a nearby CoEE investor as part of their academic training. And following graduation, many of these students can be recruited to work for CoEE investors.
Corporate citizenship
Help strengthen the South Carolina economy.
The CoEE Program helps companies achieve success, but the Program also helps build a stronger, more competitive South Carolina. By investing in a CoEE, companies “give back” to the state, its research universities, and its citizens.
By making a CoEE investment, companies are supporting education in South Carolina and helping our research universities become top-tier institutions. In addition, they enhance the state’s quality of life by funding life-saving, life-improving research. Finally, they raise South Carolina’s standard of living by supporting business development and economic development.
Potential tax advantages
Groups that invest in a CoEE may be able to take advantage of certain federal and state tax deductions. Please consult with your tax and legal advisors to determine if a CoEE investment can reduce your tax liability.
Investors in CoEE will be keeping excellent company. Current investors include BMW, Timken, Michelin, Smith & Nephew, Bank of America, Fluor, BASF, the Duke Endowment, Health Sciences South Carolina, the BlueCross BlueShield of South Carolina Foundation, and the J. E. Sirrine Textile Foundation.
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