A BILL TO BE ENTITLED
AN ACT TO AUTHORIZE FUNDING for a PROPOSAL AND ECONOMIC NEEDS ASSESSMENT to establish a North Carolina STATE UNIVERSITY PLANT SCIENCES RESEARCH AND INNOVATION INITIATIVE, AS RECOMMENDED BY THE AGRICULTURE AND FORESTRY AWARENESS STUDY COMMISSION.
Whereas, the United States Department of Agriculture has determined that each dollar invested in agricultural research returns about $19 worth of benefits to the nation's economy; and
Whereas, 40,000 new jobs in the agriculture sector are created annually in North Carolina; and
Whereas, each $1 million generated in the State's agribusiness sector creates 14 new jobs in the State; and
Whereas, a $27 billion increase in the State's agribusiness sector by 2020 will create 378,000 jobs and $62 billion in spending; and
Whereas, North Carolina's Research Triangle Park is a global hub of agriculture and bioscience research that is home to many of the world's leading plant science companies and first‑rate research institutions; and
Whereas, North Carolina is the third most diverse agricultural state in the country; and
Whereas, North Carolina State University has the strongest plant breeding and plant science programs in the world; and
Whereas, North Carolina can become the world leader in plant sciences by bringing together the resources of academia, industry, regulatory agencies, and scientists in the Research Triangle; Now, therefore,
The General Assembly of North Carolina enacts:
SECTION 1.  There is appropriated from the General Fund to North Carolina State University the sum of two hundred fifty thousand dollars ($250,000) for the 2014‑2015 fiscal year. The University shall use the funds to develop a formal proposal and economic needs assessment for establishment of a public/private partnership between the University, other academic institutions, private companies in the agribusiness and bioscience sectors, and State regulatory agencies, to be known as the "Plant Sciences Research and Innovation Initiative."
SECTION 2.  North Carolina State University shall submit a copy of the proposal and report to the Agriculture and Forestry Awareness Study Commission on the results of the economic needs assessment by January 1, 2015.
SECTION 3.  This act is effective when it becomes law.