YOUR BUSINESS AUTHORITY
Springfield, MO
Every president of Missouri’s public universities and community colleges has expressed support for this project, which will provide $350 million in one-time funds to build and renovate buildings, laboratories and classrooms at institutions across all of Missouri. At Missouri State University, every project waiting for this funding involves a renovation of an existing facility – seven facilities on three campuses.
Under the governor’s proposal, these funds would be transferred by the Missouri Higher Education Loan Authority, through the Missouri Development Finance Board, and will be derived largely from selling small portions of the MOHELA portfolio that consist of loans to non-Missouri students attending non-Missouri institutions. Several states have taken similar actions with no negative impact on students and no increase in taxes.
Six-year drought
Independent analyses have repeatedly confirmed that the MOHELA transfer is legal (in fact, MOHELA has transferred money in the past); it will not jeopardize current or future borrowers, especially Missouri residents; and many of the projects will save money by upgrading outdated, energy-inefficient buildings.
The main reason for higher education’s support for this initiative is obvious: Your public institutions have gone six years without any capital funding from the state. As a result, Missouri risks losing any competitive edge it once had, and must have if it is to be a state that grows the well-educated population necessary for economic strength and social vitality in the 21st century.
Three reasons
What has been overlooked in the debates is why the Lewis and Clark Initiative matters to all Missourians. Why should a legislator without a public university in his or her district support Lewis and Clark? Why should the average citizen without a child or relative in college care one way or the other about its fate? Let me offer three reasons.
First, the economy is becoming increasingly competitive, not only worldwide, but nationally. In this competition, some states will flourish; others will flounder. States will either soar or fail based largely on their abilities to develop the human potential necessary to take complex jobs and make constant innovation. In today’s job market, a college degree is basically equivalent to a high school diploma in the middle of the 20th century.
Students make decisions about what colleges to attend for many reasons, but a primary factor is the adequacy of the physical facilities where they will train. Missouri cannot afford to lose its human potential to Iowa, Kansas and Oklahoma simply because they build facilities that our students can’t find in Missouri. Every one of us will pay too high a price for the exodus of that talent.
Second, the immediate economic impact of the Lewis and Clark projects is enormous, as well as sustained. Estimates are that it will create almost 5,000 jobs annually across the state at an average salary of $45,000. In 12 years, it is projected that every Lewis and Clark dollar will return more than $18 in new economic activity – a total of $6.7 billion. What a difference that would make to every taxpayer.
Finally, if you care about the quality of your health care; if you care about the safety of the bridge you cross on your way to work; if you care about the preparation of your children’s teachers; and if you care about the adequacy of your public safety – then you should care about Lewis and Clark. Because without proper facilities, universities and community colleges will not be able to attract or properly educate the physicians, nurses, engineers, school teachers and law enforcement officers that are essential to each of these areas.
Missourians understand that “you reap what you sow.” I trust they also understand that an investment now in better educational facilities through Lewis and Clark will reap rewards for all Missourians for years to come.
Michael T. Nietzel is president of Missouri State University.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
Banker pleads guilty to fraud scheme
Longtime employee sues Ozarks Tech, alleges retaliation
Cavender’s opens hat shop in southeast Springfield
Caterpillar to acquire John Fabick Tractor Co.
Eric Schmitt introduces Modern Skies Act
Springfield airport to cut the ribbon on $35M in construction projects