Leaders from the Utah Science Technology and Research Initiative (USTAR) told state lawmakers Tuesday the project is up and running, and leaders are exploring areas of opportunity at Utah universities.

USTAR was created to bolster Utah's economy with high-paying jobs.

The model calls for universities — Utah State University and the University of Utah — to construct facilities and recruit high-end researchers whose technologies would be commercialized.

It will also provide funding for research teams and the creation of a technology outreach program for strategic locations in the state.

According to leaders, USTAR is expected to eventually lead to the creation of 422 companies with 123,406 jobs paying $9 billion annually and leading to $5 billion in new state tax revenue.

In July, the nine-member committee, which was nominated as an advisory board and charged with dividing up more than $200 million in research funds for Utah universities, met for the first time.

Thus far, USTAR leaders have held talks with the presidents of the two universities and have started identifying areas where the technology outreach centers should be located.

Requests for proposals for those facilities will be going out very soon, said Ted McAleer, USTAR's executive director.

McAleer said USTAR leaders have spent time with university innovation teams.

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