(Salem, OR) — Governor Kitzhaber today announced his recommendations for $242 million in state-repaid bonds for the Oregon University System and Community College capital projects, part of the Governor’s overall $1 billion investment in Oregon infrastructure. The final list was determined by the Governor, in consultation with Oregon’s colleges and universities, to help ensure they have the capacity necessary to attain the state’s 40-40-20 goals. Including campus paid debt, private donations and grants, the total capital investment in Oregon higher education system would be more than $632 million.
“We are proposing $242 million of state-repaid bonds as part of our broader commitment to reinvest in Oregon’s core infrastructure,” said Governor Kitzhaber. “With projects like new student housing, classrooms and workforce training centers at campuses across the state, we are putting Oregonians back to work and providing our post-secondary students the facilities they need to succeed.”
The capital projects contained within the Governor’s budget match $242 million of state-repaid bonds with $390 million in bonds repaid by the campuses. Additional funding will be provided by the colleges and universities from grants, private sector donations, and other local revenues. These dollars will go to projects in every corner of the state, including Oregon State University’s new Cascades Campus in Bend, a career technical center at Klamath Community College, a health and science building at Rogue Community College, an animal Science Education center at Blue Mountain Community College, and an expansion of University of Oregon’s Erb Memorial Union.
There are a number of other significant investment opportunities should the Legislature choose to allocate additional debt capacity for higher education including PSU’s Peter W. Stott Center and the University of Oregon’s Research Library expansion.
View the complete list of recommended higher education construction projects (PDF)
In 2011, the State of Oregon set its ambitious education goal known as “40-40-20.” 40-40-20 states that by 2025, Oregon will have the equivalent of a 100 percent high school completion rate, with:
• 40 percent of adults earning a bachelor's degree or higher
• 40 percent of adults earning an associate degree or credential
• 20 percent of adults earning a high school diploma or equivalent
Tim Raphael, 503-689-6117
Amy Wojcicki, 503-689-5324