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Archive for Tuesday, May 19, 2009

KTEC statement: Taylor Steps Down as President and CEO of Kansas Technology Enterprise Corporation

May 19, 2009

Editor's Note: This is a release from the Kansas Technology Enterprise Corporation regarding the resignation of Tracy Taylor.

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— The Kansas Technology Enterprise Corporation (KTEC) Board of Directors announced today that Tracy Taylor is stepping down as KTEC’s President and chief executive officer (CEO). KTEC will name an interim CEO and conduct a national search for a permanent leader of the organization. The Board has asked Taylor to remain until June 30th, which is the end of the fiscal year for KTEC.

“Taylor has provided tremendous leadership for KTEC for more than seven years,” said Linda Reinhardt, Chair of the KTEC Board of Directors. “He truly understands the needs of technology entrepreneurs and has aggressively moved the state forward to capture opportunities in software and information technology, biosciences, advanced manufacturing, aviation and cleantech. Kansas is much better off for his leadership and contribution.”

Taylor has served as KTEC's President and CEO since March of 2002. Prior to that post, he served as a director of the board for six years. He is most noted for leading KTEC’s creation of the Kansas Bioscience Initiative, the KTEC PIPELINE, and the Kansas Angel Tax Credit Program – all begun under his leadership and tenure.

“Tracy Taylor has served the KTEC honorably and capably with solid leadership that always focused on the best interests of technology-based economic development in Kansas,” said Ted Haggart, KTEC Board member, Lawrence.

“Taylor’s willingness to step aside demonstrates true leadership,” said Tom Lauerman, Co-Founder of GeoAccess and KTEC Board member. “He has guided our technology agenda in Kansas to this point, and now he departs to ensure this work continues. I was honored to serve with him on the board.”

“Tracy is a true Kansas success story – and is driven to help others achieve similar success,” said Robert Murdock, President of Osage Resources, Hutchinson. “He’s as happy driving around Western Kansas working with energy entrepreneurs in his boots as he is in a Fortune 500 boardroom. It’s rare to find a Kansan that gave up the private sector success he had to help Kansas entrepreneurs succeed.  We’ve been lucky to have him on our side.”

Since 1987 KTEC funding has:

• KTEC has helped Kansas companies create and retain 16,700 technology jobs.

•  Created $1.95 billion in new sales revenues.

• Generated an additional $456 million in private investment in Kansas.

KTEC in FY2008 alone:

• KTEC has helped Kansas companies create and retain 933 technology jobs.

• Produced $207.26 million in new revenues and $46.17 million in private equity investment.

• Kansas has received $3.6 of private investment and $7.9 of federal investment for every $1 of KTEC funding produced $100.64 million in federal leverage.

About KTEC: KTEC is a private/public partnership established by Kansas to promote technology based economic development. KTEC assists Kansas entrepreneurs and technology companies by supporting the development and commercialization of new technologies through a statewide network designed and built to support researchers, entrepreneurs, and technology companies through each phase of the technology life cycle. The ultimate goal of the program is to create rapid growth companies and higher paying jobs. To learn more about KTEC, visit: www.ktec.com

About Tracy Taylor: Taylor provided the leadership role in KTEC’s creation of the Kansas Economic Growth Act (KEGA) in 2004, which includes the bioscience initiative and the Center for Entrepreneurship. The bioscience initiative is expected to generate more than $580 million over the next 10 years, without a tax increase.

Taylor has focused on insuring Kansas is at the forefront of technology oriented economic development by creating a number of innovative programs at KTEC. An example is Taylor's contribution to the formation of the KTEC PIPELINE program, which identifies Kansas' top technology entrepreneurs and supports their leadership development.

Taylor's extensive corporate and entrepreneurial experience has been integral to the success of KTEC. After his initial position in corporate finance at Ford Motor Company, in Dearborn, Michigan, Taylor joined United Telecom in 1982 to work on the company's mergers and acquisitions. Less than two years later, Taylor was selected to a 12-person team that developed a business plan for what eventually became the Sprint Corporation. As Sprint grew into a Fortune 100 company, Taylor played a leadership role in the management side serving as the Treasurer of US Sprint. He later was selected as Vice President of Administration for all of Sprint. Taylor led the regional site selection for Sprint's World Headquarters in Overland Park, Kansas, which covers over 300 acres and holds more than 16,000 employees.

Taylor, born and raised in western Kansas, graduated from Bethany College and received his master's degree in business administration from the University of Kansas. Taylor's experience in business, entrepreneurial endeavors and technology-oriented business growth place him in a position to contribute to a wide variety of boards and organizations.

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