DeCenzo | Urge your South Carolina senators to support bond bill for higher education
Coastal Carolina University unites with fellow South Carolina public colleges and universities to support the $236.7 million bond bill that is headed to the Senate floor for debate. The bill, approved by the Senate Finance Committee under the leadership of Sen. Hugh Leatherman, is a wise investment in higher education infrastructure, workforce development and our National Guard armories.
According to a recent study reported by the Economic Policy Institute (EPI), an independent think tank researching how trends and policies impact working people in the United States, a well-educated workforce is the key to state prosperity. The research shows that one of the smartest ways states strengthen their economies and their ability to grow and attract high-wage employers is through investing in education and increasing the number of well-educated workers. EPI concludes, “Productivity rises with investments in infrastructure and workers, with investments in education that raise educational achievement providing a major boost. Thus, investing in education is a core contribution states can make to the well-being of their residents and the national economy overall.”
I applaud Governor Nikki Haley’s leadership and diligence in her ongoing efforts to attract industry to the Palmetto State. Successful economic development and industrial recruitment often hinge on the accessibility of quality educational institutions. Many of our employers and those we hope to attract require highly educated and precisely skilled employees, able to think critically and perform at high levels of technical competence. Higher education shoulders this important responsibility, consistently delivering state-of-the-art educational programs that employers demand and students need to compete in this rapidly changing world.
By approving this bond bill, state lawmakers harness the real power of South Carolina’s people while strengthening our economy. When citizens can attain the most forward-thinking and innovative learning opportunities right here, their stock goes up in the job market. High tech employers want to join us and pay our people well. The state’s budget becomes even stronger. Everyone wins.
Between 1968 and 2001, investing in South Carolina’s physical assets through constructing, upgrading and maintaining infrastructure, including higher education campuses and facilities, was standard procedure, and the benefits of that investment were evident.
Not since then has our state legislature passed a general obligations bond bill for capital improvements. Now is the right time to set a progressive pace for economic growth by passing this bond bill, which will provide $131 million for universities, $91 million for technical colleges and $15 million for National Guard armories. South Carolina has achieved and maintained an exceptional AAA credit rating for more than four decades, outperforming the rest of the nation alongside only four other states. This accomplishment positions our state perfectly for this opportunity, making funds available relatively at low borrowing costs.
Coastal Carolina University and Horry-Georgetown Technical College are uncommonly blessed in that our citizens support higher education through a local sales tax, and we thank our supporters for this bold and forward-thinking commitment. Most other institutions don’t have the advantage of a local tax, and the bond bill will help address essential construction and repairs of facilities across the state.
Senator Leatherman has made the point: there is simply not enough revenue in the general fund to meet South Carolina’s needs. Please contact your state representatives and ask them to support this smart investment in South Carolina’s future
The writer is president of Coastal Carolina University.
This story was originally published May 7, 2015 at 12:01 PM with the headline "DeCenzo | Urge your South Carolina senators to support bond bill for higher education."