The Florida Board of Governors, which oversees the state’s 11 public universities, announced Thursday a new initiative designed to use the resources of the State University System to transform the Florida economy.

Gov. Charlie Crist endorsed the New Florida Initiative and announced that his 2010-11 budget included $100 million in new recurring funding for the State University System, the first step in this long-term economic plan. Gov. Crist offered his support in remarks to the Board of Governors during its meeting in Tampa.

To read more about the initiative, click here.