Post by Bornthrilla on Jan 7, 2009 8:41:04 GMT -5
State fast-tracks bonds for A&T, UNCG
Wednesday, January 7
By Joe Killian
The Council of State on Tuesday fast-tracked the sale of $744.2 million in bonds to help pay for new projects and renovations at state institutions, including UNCG and N.C. A&T.
The council, made up of the governor and other statewide elected officials, voted to speed up the sale of the bonds already approved by the legislature. According to Gov. Mike Easley’s office, about $65 million will be issued this spring, another $258 million will come in the fall and the rest will follow in later years.
Members of the council said it was important to begin construction projects to generate jobs and stimulate the state’s economy.
“This stimulus package will help keep North Carolinians on the job even in the face of the troubled national economy,” Easley said in a statement Tuesday. “I continue to urge the new president and Congress to pass a federal economic stimulus package as soon as possible so we can get to work on more projects to keep us moving ahead.”
The governor cited estimates that every $1 million spent on construction projects creates 36 new jobs and predicted the bond funding will help create 26,000 new jobs. Each dollar spent on a construction project infuses $2.28 into North Carolina’s economy, the governor’s office said.
UNCG Chancellor Linda Brady said building a new school of education will create 1,300 jobs.
“It’s really tremendous news for us and for Greensboro,” Brady said of the bond decision. “We’re literally out of classroom and office space, and this will allow us to create a new home for the school of education at the core of the campus.”
Among the 29 projects funded by the bonds:
* $42.7 million to UNCG for the education building.
* $20.5 million to A&T for a general classroom building and another $2.4 million for horse barns and the Upper Piedmont Research Station.
* $12.9 million to the UNC School of the Arts in Winston-Salem for a film school production design building and another $11.1 million for a storage building.
* $10 million to the UNC General Administration for land acquisition.
Andy Perkins, assistant vice chancellor for facilities at A&T, applauded the council’s decision .
“We’ve designed these projects and we’re ready to proceed on them,” Perkins said. “We knew we were entering into some difficult financial times, but this decision means that we can continue to serve our students and university community and keep providing work for North Carolina workers and contractors.”
Contact Joe Killian at 883-4422, Ext. 228, or joe.killian@news-record.com
Wednesday, January 7
By Joe Killian
The Council of State on Tuesday fast-tracked the sale of $744.2 million in bonds to help pay for new projects and renovations at state institutions, including UNCG and N.C. A&T.
The council, made up of the governor and other statewide elected officials, voted to speed up the sale of the bonds already approved by the legislature. According to Gov. Mike Easley’s office, about $65 million will be issued this spring, another $258 million will come in the fall and the rest will follow in later years.
Members of the council said it was important to begin construction projects to generate jobs and stimulate the state’s economy.
“This stimulus package will help keep North Carolinians on the job even in the face of the troubled national economy,” Easley said in a statement Tuesday. “I continue to urge the new president and Congress to pass a federal economic stimulus package as soon as possible so we can get to work on more projects to keep us moving ahead.”
The governor cited estimates that every $1 million spent on construction projects creates 36 new jobs and predicted the bond funding will help create 26,000 new jobs. Each dollar spent on a construction project infuses $2.28 into North Carolina’s economy, the governor’s office said.
UNCG Chancellor Linda Brady said building a new school of education will create 1,300 jobs.
“It’s really tremendous news for us and for Greensboro,” Brady said of the bond decision. “We’re literally out of classroom and office space, and this will allow us to create a new home for the school of education at the core of the campus.”
Among the 29 projects funded by the bonds:
* $42.7 million to UNCG for the education building.
* $20.5 million to A&T for a general classroom building and another $2.4 million for horse barns and the Upper Piedmont Research Station.
* $12.9 million to the UNC School of the Arts in Winston-Salem for a film school production design building and another $11.1 million for a storage building.
* $10 million to the UNC General Administration for land acquisition.
Andy Perkins, assistant vice chancellor for facilities at A&T, applauded the council’s decision .
“We’ve designed these projects and we’re ready to proceed on them,” Perkins said. “We knew we were entering into some difficult financial times, but this decision means that we can continue to serve our students and university community and keep providing work for North Carolina workers and contractors.”
Contact Joe Killian at 883-4422, Ext. 228, or joe.killian@news-record.com
