Monday, April 28, 2008
Editorial: A sound investment in higher education
Virginia's $1.46 billion investment in its universities and colleges is well timed. It will pay dividends immediately and far into the future.
From the RoundTable blog
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Rare is the moment when Virginians can look to Richmond and be proud of every single lawmaker. It's been a long time coming, but just such an auspicious occasion occurred last week when all lawmakers agreed to a $1.46 billion bond package that, for the most part, will be spent bettering the state's universities and community colleges.
Our region stands to benefit substantially with $59 million in construction funds to build in Roanoke a new medical school that is a joint venture between Virginia Tech and Carilion. Other projects include a $22.7 million science and technology building for Virginia Western Community College, $34.2 million for a new school of business at Radford University, and smaller amounts for projects at Virginia Military Institute, New River Community College and Patrick Henry Community College.
Even in flush financial times it is hard to find agreement among the factions in Richmond for spending programs. For this bond package to achieve approval in lean times shows a spirit of cooperation and dogged determination by members, some of whom met weekly, to gain consensus.
Del. Lacey Putney, the elder independent from Bedford, sponsored the legislation. He deserves special kudos for his statesmanship in not only negotiating the bond package but in finding a way to get the money to campuses quickly.
The compromise bill is not as large as Gov. Kaine's initial $1.65 billion proposal, and it is far more modest than what either the House, at $1.8 billion, or the Senate, at $2.2 billion, had wanted. But it represents a substantial investment in higher education, and it should help spur the economy by pumping money into the sluggish construction industry.
Lawmakers could have balked at the bond package and attempted to wait until revenue strengthened. With enrollment in Virginia's public schools expected to increase by 51,000 students in the next decade, the commonwealth needs to increase capacity. It also needed to look at investments that will pay dividends by bringing research dollars into Virginia. The new medical school fits that bill and will help Tech attempt to become one of the top research universities in the nation.
Now, if only lawmakers could see the value of investing in the state's other vital infrastructure -- transportation -- there would be real cause for celebration.
