SRI's Center for Advanced Drug Research, called CADRE, will partner with James Madison University and other Virginia institutions in its research efforts. SRI also plans to add other high-technology programs in areas such as homeland security, engineering, nanotechnology, energy, information technology and education at this site. By the end of the first ten years of operation, the project will create more than 100 new jobs with an average annual compensation of $85,000.
"The establishment of SRI International's Center for Advanced Drug Research in the Shenandoah Valley is an enormous win for Virginia," said Governor Kaine. "This announcement represents a significant step toward supporting technology, research and development to diversify Virginia's economy, a goal of my economic development strategic plan. It also provides a significant opportunity to leverage the world-class research currently being conducted in Virginia's universities. As a nonprofit organization, SRI needs financial assistance to start up its research efforts in the Shenandoah Valley. I applaud the House and Senate leadership for their enthusiastic support of this innovative project for Virginia."
The mission of SRI International, which was founded in 1946 as Stanford Research Institute, is discovery and the application of science and technology for knowledge, commerce, prosperity and peace. SRI conducts R&D funded by government agencies, commercial businesses, private foundations, and other organizations. SRI also brings its innovations to the marketplace by licensing its intellectual property and by creating new ventures. Among its many innovations, SRI has a legacy of important work in the biosciences that includes research for the National Cancer Institute and a malaria treatment that has saved millions of lives. SRI, based in Menlo Park, California, has a facility in Arlington, Virginia, and in other locations throughout the United States and Asia.
"SRI is growing strategically by locating near its clients and talented professionals," said Curtis Carlson, Ph.D., president and CEO of SRI International. "The Shenandoah Valley offers SRI operational support, collaboration with academic institutions, proximity to the Washington, D.C. metropolitan area, and a high quality of life. A new center focused on advancing the state-of-the-art in drug research will enhance our efforts to improve the productivity of the pharmaceutical industry, help our nation respond to bio-threats, and develop life-saving treatments for neglected and orphan diseases."
