Science Park

Science Park Development Corporation (SPDC) is a nonprofit entity established in 1981 by the State of Connecticut, City of New Haven, Yale University, and the owner of the land at the time—the Olin Corporation. SPDC mobilizes resources to redevelop an 80 acre, formerly vacant, industrial complex adjacent to the Yale Science Hill campus into a research park and home for high-tech companies.

In the mid-1990s, President Levin met with State officials, and the State promised $14 million for the renovation of several buildings while Yale agreed to fund up to $500,000 of operating deficits. The City deferred taxes and Olin donated additional land. Buildings were renovated and occupied and the Park now has net operating income of over $1 million annually. Science Park currently employs more than 2,000 people in 23 companies, ranging from start-up ventures to mature enterprises.