Dr. John Schaerer, Special Assistant to the Chancellor, has received
notification that his $496,750 Congressional appropriaton to fund a regional
technology institute is effective as of July 1, 2003.  This award will be
administered through the U.S. Small Business Association (SBA).

Dr. Schaerer is working in collaboration with city, industry, and business
development leaders, to establish the Riverbend Technology Institute, which
will lead UTC’s response to the growing technology needs of the public and
private sectors.  The Institute's goal is to support and promote IT
industries in the Tennessee Valley; its objectives will include broadening
support for homegrown IT industries, enlarging recruitment of IT industries
into the region, augmenting training and leadership development for IT
leaders, and increasing public policy guidance and workforce development.

Dr. Schaerer and other institute planners have designed activities to
support these objectives including student internship placements with
technology-based companies, customized technology training, technology
leadership forums, training courses and seminars, and advanced technology
programs.

Congratulations to Dr. Schaerer!  The Riverbend Technology Institute is a
vital addition to the Tennessee Valley, and it will ensure that growing
technology needs in the region are met.