Gov. Rick Perry on Thursday announced a $4.5 million investment of taxpayer dollars in a friend's company more than two months after the award became a campaign issue.
Perry acknowledged the investment in Convergen LifeSciences Inc., a company that is led by David Nance, an Austin entrepreneur . Nance has donated money to Perry's campaigns, and the governor has appointed him to state advisory boards.
The grant is the second-largest awarded to an individual company from the Texas Emerging Technology Fund, managed by the governor's office. The state gave Convergen half the money on Aug. 13, the day the contract was signed, after Convergen either ignored or sidestepped lower reviewing panels.
Thursday's announcement came on the last business day of the year, just days before the governor's office must file with the Legislature a report on the Emerging Technology Fund.
Nance, who has declined to comment in the past, could not be reached Thursday.
http://www.statesman.com/business/perry-announces-4-5-million-grant-to-convergen-1154942.html?printArticle=y
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