Developing A Bio-Tech Research Park: New Partners and Shared Visions

Wednesday, March 5th, 2025

ABSTRACT
The paper reports on the real estate development of the multi-tenant bio-tech research park vision
developed by the former President of the Georgia Institute of Technology, Dr. Wayne G. Clough, that
has become a reality known as Technology Enterprise Park located in Atlanta, Georgia USA.

INTRODUCTION/OBJECTIVE
Dr. Wayne Clough, the former President of the Georgia Institute of Technology (Georgia Tech),
Atlanta, Georgia, USA, had a vision of developing and providing a multi-tenant bio-tech research park
in Atlanta, Georgia adjacent to the Georgia Tech campus that would assist entrepreneurial biotechnology
company leaders to stay in Georgia versus their moving to other parts of the USA for biotechnology
research talent and venture capital funds. This vision also would provide the opportunity
for Georgia Tech students, graduates and academics to work for these companies and help grow
economic development in Georgia and the southeast toward becoming a major biotech research
center in the U.S.
Because of the long time frame it takes to get approval from the State of Georgia and the Board of
Regents which controls all Georgia Tech real estate and capital projects, Dr. Clough knew that
approval and funding for this Park would not be a priority for the State of Georgia. So in late 2003, Dr.
Clough approached the Board of Directors of Georgia Advanced Technology Ventures (GATV), a notfor-
profit real estate development company and an affiliated development organization to Georgia
Tech, with the vision and the request to develop this park (see Figure 1). Based on his presentation,
the GATV Board voted to share his vision and set about the task of making the vision a reality.

Read the Full Paper Here: Developing A Bio-Tech Research Park: New Partners and Shared Visions