10.03.10

Perry’s web of money – donors get $16 million in state funding

Posted in Around The State, Money In Politics at 2:38 pm by wcnews

Via the DMN, Perry’s tech fund aided firms with ties to his donors.

When Gov. Rick Perry announces that a company will get money from the Texas Emerging Technology Fund, he often describes it as an important investment in the state’s future.

An investigation by The Dallas Morning News found that more than $16 million from the Emerging Technology Fund has been awarded to companies with investors or officers who are large campaign donors to Perry.

Here’s a little on who got the money and what Perry received from them.

The News found that tech fund money has been awarded to companies with which at least eight significant Perry donors are affiliated. Among them:

•$2.75 million to Terrabon Inc., a Houston company. Its backers have included Phil Adams, a college friend of Perry’s who has given his campaign at least $314,000.

•$1.75 million to Gradalis Inc., a Carrollton firm. Among its investors has been Dr. James R. Leininger, who has contributed more than $264,000 to Perry’s campaigns.

•$1.5 million to ThromboVision Inc., a Houston company. One of its investors was Charles W. Tate, who has donated more than $424,000 to Perry.

•$4.5 million to Convergen Lifesciences Inc. of Austin. The company was founded by David G. Nance, a former Perry appointee who has given the governor $80,000.

•$2 million to Seno Medical Instruments Inc. of San Antonio. Its investors have included Southwest Business Corp. and its subsidiaries, whose chairman, Charles Amato, gave Perry more than $32,000.

•$975,000 to Carbon Nanotechnologies Inc. of Houston. At the time of the award, one investor was William A. McMinn, who has contributed $152,000 to Perry.

Here’s a cool graphic that shows how the money flowed [PDF].

Leave a Comment

You must be logged in to post a comment.