This week, the Nebraska Legislature’s Agriculture Committee moved a bill important to Lincoln and the state’s future to the full Legislature for consideration. LB1116 calls for the Nebraska State Fair to move from State Fair Park, allowing the University of Nebraska-Lincoln to use this property for an exciting new public/private partnership called Nebraska Innovation Campus.

The bill also calls for the Nebraska State Fair to relocate to Grand Island, despite the best efforts of Lincoln officials to keep the State Fair in our Capital City.

We believe LB1116 creates a tremendous opportunity for the city of Lincoln and state of Nebraska, because it allows the University of Nebraska-Lincoln to move forward with Nebraska Innovation Campus. The vision of University of Nebraska President J.B. Milliken and UNL Chancellor Harvey Perlman has resulted in one of the most exciting opportunities ever presented to our state.

Innovation Campus will bring together cutting-edge research conducted by UNL faculty, partnering in many cases with private businesses to advance the development of new products for our world. The combination of federal research dollars and private companies making significant capital investments will bring substantial revenue to Lincoln and Nebraska. We anticipate a number of start-up businesses will spring from the wealth of ideas generated on this campus, creating many good-paying jobs to fuel our economy.

We have seen successful examples of this approach in other states, including North Carolina State University’s Centennial Campus, a research corridor that has stimulated tremendous economic development and vitality.

Everyone involved in this effort — Lincoln’s mayor, the Lancaster County Board, Lincoln Chamber of Commerce, 2015 Vision and several other groups — felt strongly the State Fair should remain in our city. Lincoln and the State Fair have been excellent partners for many years, and we worked very hard to promote an ideal new home for the State Fair on property owned by the university near 84th Street and Havelock Avenue.

The property offered everything the State Fair needed. It could use existing modern buildings developed by the Lancaster County Agriculture Society. There was plenty of space for a new midway, livestock facilities and a new racetrack that would ensure thoroughbred horse racing remains strong in Nebraska. And we had a financing package that we felt would create a vibrant and exciting State Fair in our community without incurring any new or additional taxes.

Throughout this legislative process, Lincoln Mayor Chris Beutler has shown significant leadership on behalf of the community. We applaud his efforts to mediate and bring everyone together to find a solution that would keep the State Fair in Lincoln. In reality, the State Fair is an institution that belongs to the entire state. If the Legislature and governor ultimately decide that Grand Island should host the State Fair, we will accept and support that decision.

We want to thank Chairman Phil Erdman and the members of the Agriculture Committee for advancing LB1116 to the floor and working with us on this important issue. We appreciate the support for Innovation Campus expressed by Gov. Dave Heineman. We also want to thank Legislative Speaker Mike Flood for ensuring this issue will quickly come before the full body of the Legislature, and we encourage senators to vote in support of LB1116.

We believe making the State Fair Park property available for Nebraska Innovation Campus is an once-in-a-lifetime opportunity for Lincoln and Nebraska.

Tonn Ostergard is a member of Vision 2015 and president and chief executive officer of Crete Carrier Corp. of Lincoln.