$200 Million Bond Approved for College Projects in Tuesday's Election
November 7, 2012
RALEIGH, N.C. - Wake Tech Community College is grateful – and it shows! College staff and administrators took to the streets with “thank you” signs during morning rush hour today, thanking Wake County voters for overwhelmingly approving a $200 million bond in Tuesday’s election. The referendum passed by 73%, and college officials posted a video on YouTube to further extend their appreciation.
Approval for the bond makes it possible for Wake Tech to keep pace with county population growth and record demand for education and training services. With bond funds, Wake Tech will construct three new buildings on the Northern Wake Tech Campus, start construction on a new RTP Campus in Morrisville, expand the Public Safety Education Campus, and make repairs and renovations on the Main Campus. These projects will allow Wake Tech to serve an additional 24,000 students.
“This is a truly thrilling vote of confidence from our community,” says Wake Tech President Dr. Stephen Scott, “and one that inspires us to work even harder and reach higher. These vital resources will help us expand and enhance, deliver more and better education and training programs, and continue to honor our commitment to a stronger economy and greater quality of life throughout the region.”
Wake Tech’s building plan totals $210.2 million; Wake County will supply $10.2 million from existing cash resources to go with the $200 million in bond funds. No tax increases are required. The planned projects are expected to generate as many as 2,000 jobs in the construction industry.
Wake County’s population is growing by 20,000 new residents each year, and Wake Tech serves approximately 1 in every 8 Wake County adults. Enrollment at the college has increased more than 55% over the past five years, and is expected to increase another 50% over the next five. Every semester, more than 5,400 students are on waiting lists for classes that are full.
Voters overwhelmingly approved bond referenda for Wake Tech in 2004 and 2007. Those funds enabled the college to start construction on the 127-acre Northern Wake Campus, which opened in the fall of 2007. To date, four of the 10 classroom buildings planned for that site have been built. Wake Tech has now purchased 94 acres near I-40 and 540 for its RTP Campus, to better serve the needs of students and businesses in the western part of the county.