CLEMSON - Clemson University would provide discounted rent for auto-industry startup companies in a new office building it may build at the International Center for Automotive Research, according to federal documents.
The 60,000-square-foot building would have office and lab space available at below-market rents for "qualified" firms developing new technologies, according to the university's successful application for $3 million in federal money.
Plans for the building came to light in mid-September when the U.S. Economic Development Administration announced the $3 million grant award.
The building is expected to cost more than $11 million, with the Clemson University Real Estate Foundation providing the $8 million not covered by the federal grant. According to the grant application, the foundation plans to get a mortgage on the property for the balance of the construction costs and equipment.
Clemson spokeswoman Sandy Woodward said the university was reviewing the steps it needs to take to accept the $3 million. "Until we complete that process, we do not have anything further to add," she said.
Bob Geolas, ICAR's executive director, has said the research park must still address financing and timing issues and get the blessing of various authorities, including Clemson's board of trustees.