A University of Illinois official working on a planned public-private research laboratory in Chicago says it could serve as a job creator for the region and a magnet to draw and keep the best and brightest in Illinois.
Larry Schook is vice president for research at the planned UI Labs. He told university trustees at a meeting Thursday about plans for the public-private lab that would link the university, the city of Chicago, the state government and, ideally, major companies.
The research institute would have a budget of up to $100 million in five years. The money would have to come from grants, donors and outside organizations involved in the research.
Trustees did not vote on the plan Thursday but will eventually have to sign off on the university's role.